New Fortress Energy Inc. (NASDAQ:NFE – Get Free Report)’s share price fell 7.2% during trading on Tuesday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $33.00 to $26.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. New Fortress Energy traded as low as $23.72 and last traded at $23.80. 867,867 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 1,693,862 shares. The stock had previously closed at $25.64.
NFE has been the subject of a number of other research reports. Stifel Nicolaus lowered their target price on New Fortress Energy from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Barclays lowered their target price on New Fortress Energy from $32.00 to $27.00 and set an “equal weight” rating for the company in a research note on Monday, May 6th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.00.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of NFE. Primecap Management Co. CA lifted its holdings in New Fortress Energy by 553.0% during the 4th quarter. Primecap Management Co. CA now owns 3,438,300 shares of the company’s stock worth $129,727,000 after buying an additional 2,911,800 shares during the last quarter. Vanguard Group Inc. lifted its holdings in New Fortress Energy by 41.4% during the 3rd quarter. Vanguard Group Inc. now owns 8,481,836 shares of the company’s stock worth $278,035,000 after buying an additional 2,482,627 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in shares of New Fortress Energy by 31.0% in the 1st quarter. William Blair Investment Management LLC now owns 8,916,242 shares of the company’s stock worth $272,748,000 after purchasing an additional 2,111,360 shares during the last quarter. M&G Plc bought a new stake in shares of New Fortress Energy in the 1st quarter worth approximately $51,569,000. Finally, Capital World Investors lifted its holdings in shares of New Fortress Energy by 8.3% in the 4th quarter. Capital World Investors now owns 14,964,622 shares of the company’s stock worth $564,615,000 after purchasing an additional 1,152,125 shares during the last quarter. Institutional investors own 58.61% of the company’s stock.
New Fortress Energy Trading Down 14.8 %
The firm has a market cap of $4.48 billion, a P/E ratio of 10.32 and a beta of 1.49. The company has a debt-to-equity ratio of 3.74, a quick ratio of 0.54 and a current ratio of 0.66. The firm has a fifty day moving average of $23.07 and a 200-day moving average of $28.25.
New Fortress Energy (NASDAQ:NFE – Get Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.07. The business had revenue of $690.30 million for the quarter, compared to the consensus estimate of $602.41 million. New Fortress Energy had a return on equity of 31.34% and a net margin of 17.90%. The business’s revenue was up 19.2% on a year-over-year basis. During the same quarter last year, the business posted $0.90 EPS. Equities research analysts forecast that New Fortress Energy Inc. will post 1.99 earnings per share for the current year.
New Fortress Energy Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Saturday, June 15th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.83%. The ex-dividend date was Friday, June 14th. New Fortress Energy’s dividend payout ratio (DPR) 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.