New Fortress Energy (NASDAQ:NFE) Price Target Cut to $27.00 by Analysts at Barclays

New Fortress Energy (NASDAQ:NFE) had its price target reduced by equities researchers at Barclays from $32.00 to $27.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective points to a potential upside of 3.37% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $35.00 price target (down previously from $40.00) on shares of New Fortress Energy in a report on Monday, March 4th. Stifel Nicolaus reduced their target price on New Fortress Energy from $49.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, March 1st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $38.57.

New Fortress Energy Trading Down 0.2 %

New Fortress Energy stock opened at $26.12 on Monday. 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 market cap of $5.36 billion, a PE ratio of 9.86 and a beta of 1.56. The stock’s 50 day simple moving average is $29.72 and its two-hundred day simple moving average is $32.86. New Fortress Energy has a 12 month low of $25.06 and a 12 month high of $40.04.

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings results on Thursday, February 29th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.08. The firm had revenue of $758.60 million for the quarter, compared to the consensus estimate of $647.54 million. New Fortress Energy had a net margin of 22.70% and a return on equity of 36.16%. The firm’s quarterly revenue was up 38.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.87 earnings per share. Analysts anticipate that New Fortress Energy will post 2.97 earnings per share for the current year.

Institutional Trading of New Fortress Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. increased its position in New Fortress Energy by 563.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,387 shares of the company’s stock worth $42,000 after purchasing an additional 1,178 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of New Fortress Energy in the 1st quarter valued at approximately $95,000. Van ECK Associates Corp raised its position in shares of New Fortress Energy by 15.3% during the 3rd quarter. Van ECK Associates Corp now owns 3,623 shares of the company’s stock valued at $119,000 after buying an additional 482 shares during the period. Kapitalo Investimentos Ltda acquired a new position in New Fortress Energy in the fourth quarter valued at approximately $119,000. Finally, ORG Partners LLC grew its position in New Fortress Energy by 14.3% in the third quarter. ORG Partners LLC now owns 4,206 shares of the company’s stock worth $138,000 after acquiring an additional 526 shares during the period. 58.61% of the stock is owned by institutional investors and hedge funds.

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.