New Fortress Energy Inc. (NASDAQ:NFE) Receives Average Rating of “Hold” from Analysts

New Fortress Energy Inc. (NASDAQ:NFE) has been assigned a consensus recommendation of “Hold” from the seven analysts that are currently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $39.29.

Several equities analysts have recently issued reports on NFE shares. Stifel Nicolaus cut their price target on New Fortress Energy from $49.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, March 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $35.00 target price (down previously from $40.00) on shares of New Fortress Energy in a research note on Monday, March 4th. Finally, Capital One Financial started coverage on shares of New Fortress Energy in a research note on Tuesday, December 19th. They set an “equal weight” rating and a $45.00 price target for the company.

New Fortress Energy Trading Down 1.9 %

NFE opened at $28.40 on Friday. New Fortress Energy has a 1-year low of $25.06 and a 1-year high of $40.04. The stock has a market capitalization of $5.82 billion, a PE ratio of 10.72 and a beta of 1.53. The company has a current ratio of 0.57, a quick ratio of 0.51 and a debt-to-equity ratio of 3.66. The firm has a 50-day moving average price of $31.35 and a two-hundred day moving average price of $33.43.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings results on Thursday, February 29th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.08. New Fortress Energy had a net margin of 22.70% and a return on equity of 36.16%. The business had revenue of $758.60 million during the quarter, compared to analyst estimates of $647.54 million. During the same quarter last year, the business posted $0.87 earnings per share. New Fortress Energy’s revenue for the quarter was up 38.8% compared to the same quarter last year. As a group, equities analysts anticipate that New Fortress Energy will post 3.73 earnings per share for the current fiscal year.

New Fortress Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Friday, March 15th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Thursday, March 14th. New Fortress Energy’s payout ratio is 15.09%.

Hedge Funds Weigh In On New Fortress Energy

Several institutional investors and hedge funds have recently made changes to their positions in NFE. Harbour Investments Inc. raised its holdings in New Fortress Energy by 1,218.3% during the 2nd quarter. Harbour Investments Inc. now owns 936 shares of the company’s stock worth $25,000 after buying an additional 865 shares during the period. American International Group Inc. lifted its position in New Fortress Energy by 49.5% in the 2nd quarter. American International Group Inc. now owns 752 shares of the company’s stock valued at $30,000 after acquiring an additional 249 shares in the last quarter. Money Concepts Capital Corp acquired a new position in New Fortress Energy in the 4th quarter worth $38,000. KBC Group NV bought a new position in New Fortress Energy during the 4th quarter worth about $39,000. Finally, BNP Paribas Arbitrage SA raised its stake in shares of New Fortress Energy by 41.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,084 shares of the company’s stock valued at $46,000 after purchasing an additional 316 shares during the period. Institutional investors and hedge funds own 58.61% of the company’s stock.

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.