New Fortress Energy LLC (NASDAQ:NFE) Receives Average Recommendation of “Buy” from Analysts

Shares of New Fortress Energy LLC (NASDAQ:NFE) have been assigned an average recommendation of “Buy” from the ten ratings firms that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $22.33.

Several brokerages recently commented on NFE. Citigroup upped their target price on New Fortress Energy from $18.00 to $22.00 and gave the company a “buy” rating in a report on Monday, September 30th. Zacks Investment Research cut New Fortress Energy from a “buy” rating to a “hold” rating in a report on Saturday, November 16th. Barclays set a $18.00 target price on New Fortress Energy and gave the company a “hold” rating in a report on Tuesday, October 15th. Morgan Stanley reiterated an “overweight” rating and issued a $25.00 target price on shares of New Fortress Energy in a report on Friday, September 20th. Finally, BTIG Research initiated coverage on New Fortress Energy in a report on Tuesday, October 1st. They set a “buy” rating and a $30.00 price target on the stock.

Shares of NASDAQ:NFE traded up $0.37 during midday trading on Wednesday, hitting $15.70. 139,300 shares of the stock were exchanged, compared to its average volume of 156,689. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.48 and a current ratio of 0.53. The business’s 50-day moving average price is $16.38 and its 200 day moving average price is $14.36. New Fortress Energy has a 12 month low of $8.90 and a 12 month high of $19.50.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings results on Monday, November 11th. The company reported ($0.30) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.07). The firm had revenue of $49.66 million for the quarter, compared to the consensus estimate of $40.41 million. New Fortress Energy had a negative return on equity of 14.58% and a negative net margin of 40.60%. Equities research analysts anticipate that New Fortress Energy will post -1.29 earnings per share for the current year.

In other news, Director Katherine Wanner bought 1,800 shares of the stock in a transaction dated Wednesday, November 13th. The shares were bought at an average cost of $15.52 per share, with a total value of $27,936.00.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NFE. Ladenburg Thalmann Financial Services Inc. bought a new position in New Fortress Energy in the 2nd quarter valued at $30,000. Morgan Stanley grew its stake in New Fortress Energy by 51.7% in the 2nd quarter. Morgan Stanley now owns 3,754 shares of the company’s stock valued at $44,000 after purchasing an additional 1,280 shares during the period. Wells Fargo & Company MN bought a new position in New Fortress Energy in the 2nd quarter valued at $123,000. TD Asset Management Inc. bought a new position in New Fortress Energy in the 2nd quarter valued at $275,000. Finally, Endurance Wealth Management Inc. bought a new position in New Fortress Energy in the 2nd quarter valued at $304,000. 7.30% of the stock is owned by institutional investors and hedge funds.

About New Fortress Energy

New Fortress Energy LLC operates as an integrated gas-to-power company. The company's activities include natural gas procurement and liquefaction; provision of logistics and shipping services; development and operation of terminals; and conversion or development of natural gas-fired generation. It intends to serve power, transportation, and industrial users of natural gas and LNG.

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Analyst Recommendations for New Fortress Energy (NASDAQ:NFE)

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