Brokerages Set New Fortress Energy Inc. (NASDAQ:NFE) Target Price at $26.67

New Fortress Energy Inc. (NASDAQ:NFE) has earned a consensus recommendation of “Hold” from the five brokerages that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $23.40.

Several research firms have recently issued reports on NFE. BTIG Research dropped their price target on shares of New Fortress Energy from $35.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Deutsche Bank Aktiengesellschaft lowered their target price on New Fortress Energy from $26.00 to $21.00 and set a “hold” rating for the company in a research report on Monday, August 12th. Barclays decreased their price target on New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Finally, Stifel Nicolaus cut their price objective on New Fortress Energy from $40.00 to $17.00 and set a “buy” rating on the stock in a research note on Monday, August 12th.

Institutional Investors Weigh In On New Fortress Energy

Several large investors have recently added to or reduced their stakes in the business. X Square Capital LLC boosted its holdings in shares of New Fortress Energy by 0.6% during the 2nd quarter. X Square Capital LLC now owns 137,396 shares of the company’s stock worth $3,020,000 after buying an additional 781 shares in the last quarter. Maryland State Retirement & Pension System boosted its stake in New Fortress Energy by 1.5% during the first quarter. Maryland State Retirement & Pension System now owns 59,765 shares of the company’s stock worth $1,828,000 after acquiring an additional 888 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in New Fortress Energy by 4.8% in the second quarter. Commonwealth Equity Services LLC now owns 21,719 shares of the company’s stock worth $477,000 after purchasing an additional 999 shares during the period. Tidal Investments LLC increased its stake in New Fortress Energy by 10.9% in the first quarter. Tidal Investments LLC now owns 10,297 shares of the company’s stock valued at $315,000 after purchasing an additional 1,009 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake 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 valued at $479,000 after purchasing an additional 1,024 shares in the last quarter. Institutional investors and hedge funds own 58.61% of the company’s stock.

New Fortress Energy Stock Down 0.3 %

Shares of NASDAQ:NFE opened at $10.60 on Friday. New Fortress Energy has a 52-week low of $9.44 and a 52-week high of $40.04. The company has a market capitalization of $2.17 billion, a PE ratio of 4.82 and a beta of 1.53. The company has a debt-to-equity ratio of 4.38, a quick ratio of 0.63 and a current ratio of 0.72. The company has a fifty day moving average of $15.45 and a 200-day moving average of $22.60.

New Fortress Energy (NASDAQ:NFE) last released its quarterly 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). The firm had revenue of $428.00 million for the quarter, compared to the consensus estimate of $465.52 million. New Fortress Energy had a return on equity of 18.80% and a net margin of 10.19%. The business’s revenue for the quarter was down 23.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.58 earnings per share. On average, equities analysts predict that New Fortress Energy will post 0.58 EPS for the current fiscal year.

New Fortress Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Friday, September 13th. New Fortress Energy’s dividend payout ratio is 18.18%.

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.