Morgan Stanley Cuts New Fortress Energy (NASDAQ:NFE) Price Target to $14.00

New Fortress Energy (NASDAQ:NFE) had its price objective reduced by Morgan Stanley from $15.00 to $14.00 in a research note issued to investors on Tuesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

NFE has been the subject of a number of other reports. Stifel Nicolaus raised their price target on New Fortress Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Deutsche Bank Aktiengesellschaft upgraded New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price target for the company in a report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $15.60.

New Fortress Energy Stock Down 6.3 %

Shares of NASDAQ:NFE opened at $9.69 on Tuesday. The company has a market cap of $2.64 billion, a PE ratio of 10.65 and a beta of 1.58. New Fortress Energy has a 52 week low of $7.82 and a 52 week high of $34.40. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38. The firm has a 50 day simple moving average of $13.48 and a 200 day simple moving average of $11.58.

New Fortress Energy (NASDAQ:NFE) last issued its earnings results on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.07. The company had revenue of $679.00 million for the quarter, compared to the consensus estimate of $613.24 million. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. As a group, research analysts expect that New Fortress Energy will post 0.36 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NFE. Capital World Investors lifted its holdings in New Fortress Energy by 87.9% during the 4th quarter. Capital World Investors now owns 19,925,022 shares of the company’s stock valued at $301,266,000 after purchasing an additional 9,319,985 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in shares of New Fortress Energy by 40.8% in the 4th quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company’s stock worth $235,374,000 after acquiring an additional 4,509,177 shares in the last quarter. Primecap Management Co. CA grew its position in New Fortress Energy by 13.6% during the 4th quarter. Primecap Management Co. CA now owns 13,096,998 shares of the company’s stock worth $198,027,000 after acquiring an additional 1,564,893 shares during the last quarter. Vanguard Group Inc. increased its holdings in New Fortress Energy by 31.8% during the 4th quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company’s stock valued at $171,147,000 after purchasing an additional 2,728,191 shares in the last quarter. Finally, Hood River Capital Management LLC acquired a new position in New Fortress Energy in the fourth quarter worth $155,023,000. 58.61% of the stock is owned by institutional investors.

New Fortress Energy Company Profile

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.