Analysts Set New Fortress Energy Inc. (NASDAQ:NFE) Target Price at $19.77

New Fortress Energy Inc. (NASDAQ:NFE) has been assigned an average recommendation of “Hold” from the six brokerages that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $19.77.

A number of brokerages have issued reports on NFE. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating and issued a $7.60 target price (down from $21.00) on shares of New Fortress Energy in a research report on Tuesday, October 1st. Morgan Stanley downgraded shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $35.00 to $15.00 in a research note on Thursday, October 3rd. Stifel Nicolaus dropped their target price on shares of New Fortress Energy from $40.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Barclays reduced their price target on shares of New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. Finally, BTIG Research lowered their price objective on New Fortress Energy from $35.00 to $15.00 and set a “buy” rating for the company in a report on Friday, September 13th.

New Fortress Energy Price Performance

NFE opened at $9.65 on Tuesday. New Fortress Energy has a twelve month low of $8.20 and a twelve month high of $40.04. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 4.35 and a beta of 1.51. The company has a current ratio of 0.72, a quick ratio of 0.63 and a debt-to-equity ratio of 4.38. The company has a fifty day simple moving average of $11.62 and a 200 day simple moving average of $19.99.

New Fortress Energy (NASDAQ:NFE) last announced its earnings results on Friday, August 9th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.50). New Fortress Energy had a net margin of 10.19% and a return on equity of 18.80%. The business had revenue of $428.00 million for the quarter, compared to analyst estimates of $465.52 million. During the same quarter in the prior year, the business earned $0.58 earnings per share. The firm’s revenue was down 23.7% on a year-over-year basis. Equities research analysts expect that New Fortress Energy will post 0.41 EPS for the current fiscal year.

New Fortress Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend was Friday, September 13th. New Fortress Energy’s dividend payout ratio (DPR) is presently 18.18%.

Insider Buying and Selling

In related news, CEO Wesley R. Edens acquired 5,793,742 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was purchased at an average cost of $8.63 per share, for a total transaction of $49,999,993.46. Following the purchase, the chief executive officer now directly owns 35,721,915 shares in the company, valued at $308,280,126.45. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 37.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NFE. X Square Capital LLC raised its stake in shares of New Fortress Energy by 0.6% during the second quarter. X Square Capital LLC now owns 137,396 shares of the company’s stock valued at $3,020,000 after purchasing an additional 781 shares in the last quarter. Maryland State Retirement & Pension System boosted its holdings in shares of New Fortress Energy by 1.5% in the first quarter. Maryland State Retirement & Pension System now owns 59,765 shares of the company’s stock valued at $1,828,000 after acquiring an additional 888 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in shares of New Fortress Energy by 4.8% during the second quarter. Commonwealth Equity Services LLC now owns 21,719 shares of the company’s stock valued at $477,000 after acquiring an additional 999 shares during the period. Tidal Investments LLC raised its holdings in New Fortress Energy by 10.9% during the first quarter. Tidal Investments LLC now owns 10,297 shares of the company’s stock worth $315,000 after purchasing an additional 1,009 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in New Fortress Energy by 4.9% in the second quarter. The Manufacturers Life Insurance Company now owns 21,784 shares of the company’s stock worth $479,000 after purchasing an additional 1,024 shares during the period. Institutional investors 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.