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

New Fortress Energy Inc. (NASDAQ:NFE) has received a consensus recommendation of “Hold” from the seven brokerages that are covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $38.57.

A number of brokerages recently weighed in on NFE. Stifel Nicolaus dropped their target price on shares of New Fortress Energy from $49.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, March 1st. Barclays dropped their price objective on shares of New Fortress Energy from $32.00 to $27.00 and set an “equal weight” rating for the company in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $35.00 target price (down from $40.00) on shares of New Fortress Energy in a report on Monday, March 4th.

New Fortress Energy Stock Performance

NASDAQ NFE opened at $26.49 on Thursday. The company has a quick ratio of 0.51, a current ratio of 0.57 and a debt-to-equity ratio of 3.66. New Fortress Energy has a twelve month low of $25.06 and a twelve month high of $40.04. The business has a 50-day moving average price of $29.61 and a 200-day moving average price of $32.81. The firm has a market cap of $5.43 billion, a price-to-earnings ratio of 10.00 and a beta of 1.56.

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

New Fortress Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Friday, March 15th were paid a $0.10 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.51%. New Fortress Energy’s payout ratio is currently 15.09%.

Institutional Trading of New Fortress Energy

A number of large investors have recently made changes to their positions in NFE. Capital World Investors grew its position in New Fortress Energy by 8.3% in the fourth quarter. Capital World Investors now owns 14,964,622 shares of the company’s stock worth $564,615,000 after acquiring an additional 1,152,125 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in shares of New Fortress Energy by 31.0% in the 1st quarter. William Blair Investment Management LLC now owns 8,916,242 shares of the company’s stock worth $272,748,000 after purchasing an additional 2,111,360 shares during the period. Vanguard Group Inc. increased its position in shares of New Fortress Energy by 41.4% during the 3rd quarter. Vanguard Group Inc. now owns 8,481,836 shares of the company’s stock valued at $278,035,000 after purchasing an additional 2,482,627 shares during the last quarter. Federated Hermes Inc. increased its position in shares of New Fortress Energy by 10.8% during the 3rd quarter. Federated Hermes Inc. now owns 4,401,700 shares of the company’s stock valued at $144,288,000 after purchasing an additional 427,300 shares during the last quarter. Finally, Primecap Management Co. CA raised its holdings in New Fortress Energy by 553.0% during the 4th quarter. Primecap Management Co. CA now owns 3,438,300 shares of the company’s stock valued at $129,727,000 after buying an additional 2,911,800 shares during the period. 58.61% of the stock is currently owned by institutional investors.

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.