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

Shares of New Fortress Energy Inc. (NASDAQ:NFE) have earned a consensus recommendation of “Hold” from the seven research firms that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $39.29.

A number of equities analysts have recently commented on NFE shares. Stifel Nicolaus reduced their price objective on shares of 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. 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.

Institutional Investors Weigh In On New Fortress Energy

Several hedge funds have recently bought and sold shares of NFE. Capital World Investors lifted its position in New Fortress Energy by 8.3% during 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 during the last quarter. Vanguard Group Inc. lifted its position in New Fortress Energy by 41.4% during the third quarter. Vanguard Group Inc. now owns 8,481,836 shares of the company’s stock worth $278,035,000 after acquiring an additional 2,482,627 shares during the last quarter. William Blair Investment Management LLC lifted its position in New Fortress Energy by 12.0% during the third quarter. William Blair Investment Management LLC now owns 6,275,847 shares of the company’s stock worth $205,722,000 after acquiring an additional 674,685 shares during the last quarter. Federated Hermes Inc. lifted its position in New Fortress Energy by 10.8% during the third quarter. Federated Hermes Inc. now owns 4,401,700 shares of the company’s stock worth $144,288,000 after acquiring an additional 427,300 shares during the last quarter. Finally, Primecap Management Co. CA lifted its position in New Fortress Energy by 553.0% during the fourth quarter. Primecap Management Co. CA now owns 3,438,300 shares of the company’s stock worth $129,727,000 after acquiring an additional 2,911,800 shares during the last quarter. 58.61% of the stock is currently owned by institutional investors and hedge funds.

New Fortress Energy Trading Down 0.5 %

New Fortress Energy stock opened at $28.06 on Friday. The firm has a 50-day moving average of $30.95 and a 200-day moving average of $33.28. New Fortress Energy has a one year low of $25.06 and a one year high of $40.04. The company has a debt-to-equity ratio of 3.66, a current ratio of 0.57 and a quick ratio of 0.51. The company has a market cap of $5.75 billion, a price-to-earnings ratio of 10.59 and a beta of 1.53.

New Fortress Energy (NASDAQ:NFE) last posted its quarterly earnings data on Thursday, February 29th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.08. New Fortress Energy had a net margin of 22.70% and a return on equity of 36.16%. The company had revenue of $758.60 million during the quarter, compared to the consensus estimate of $647.54 million. During the same period in the prior year, the business posted $0.87 EPS. The company’s quarterly revenue was up 38.8% on a year-over-year basis. On average, equities analysts expect that New Fortress Energy will post 3.73 earnings per share for the current fiscal year.

New Fortress Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors 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 annualized dividend and a yield of 1.43%. New Fortress Energy’s dividend payout ratio (DPR) is currently 15.09%.

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.