New Fortress Energy Inc. (NASDAQ:NFE) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of New Fortress Energy Inc. (NASDAQ:NFE) have been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $50.33.

A number of analysts have recently weighed in on NFE shares. Bank of America downgraded shares of New Fortress Energy from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $59.00 to $31.00 in a research report on Thursday, June 8th. Morgan Stanley decreased their price target on shares of New Fortress Energy from $48.00 to $44.00 and set an “overweight” rating for the company in a research report on Wednesday, August 9th. Barclays decreased their price target on shares of New Fortress Energy from $34.00 to $32.00 and set an “equal weight” rating for the company in a research report on Monday, July 31st. Finally, TheStreet raised shares of New Fortress Energy from a “c” rating to a “b-” rating in a report on Wednesday, August 9th.

Institutional Investors Weigh In On New Fortress Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. Portside Wealth Group LLC bought a new stake in New Fortress Energy in the second quarter valued at $1,673,000. VisionPoint Advisory Group LLC bought a new stake in New Fortress Energy in the second quarter valued at $896,000. California State Teachers Retirement System raised its stake in shares of New Fortress Energy by 32.2% during the second quarter. California State Teachers Retirement System now owns 75,763 shares of the company’s stock valued at $2,029,000 after purchasing an additional 18,459 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of New Fortress Energy by 133.4% during the second quarter. Alliancebernstein L.P. now owns 39,358 shares of the company’s stock valued at $1,054,000 after purchasing an additional 22,493 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of New Fortress Energy by 34.8% during the second quarter. Wells Fargo & Company MN now owns 472,698 shares of the company’s stock valued at $12,659,000 after purchasing an additional 121,967 shares in the last quarter. 50.16% of the stock is currently owned by institutional investors.

New Fortress Energy Stock Up 3.0 %

Shares of NASDAQ:NFE opened at $31.96 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 3.27. New Fortress Energy has a 52-week low of $25.06 and a 52-week high of $60.97. The company has a 50 day moving average of $28.32 and a two-hundred day moving average of $29.73. The company has a market capitalization of $6.55 billion, a price-to-earnings ratio of 17.00, a price-to-earnings-growth ratio of 0.28 and a beta of 1.58.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. New Fortress Energy had a net margin of 16.35% and a return on equity of 35.70%. The business had revenue of $561.35 million during the quarter, compared to the consensus estimate of $573.60 million. During the same quarter last year, the company earned $0.69 earnings per share. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. As a group, analysts forecast that New Fortress Energy will post 3.73 earnings per share for the current fiscal year.

New Fortress Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 27th. Shareholders of record on Wednesday, September 13th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Tuesday, September 12th. New Fortress Energy’s payout ratio is 21.28%.

About New Fortress Energy

New Fortress Energy Inc operates as an integrated gas-to-power energy infrastructure company that provides energy and development services to end-users worldwide. The company operates in two segments, Terminals and Infrastructure, and Ships. The Terminals and Infrastructure segment engages in the natural gas procurement and liquefaction; and shipping, logistics, facilities and conversion, or development of natural gas-fired power generation.