Shares of New Fortress Energy Inc. (NASDAQ:NFE - Get Free Report) hit a new 52-week low during trading on Tuesday . The company traded as low as $19.96 and last traded at $20.08, with a volume of 727882 shares changing hands. The stock had previously closed at $20.40.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the stock. Stifel Nicolaus dropped their target price on shares of New Fortress Energy from $45.00 to $43.00 and set a "buy" rating on the stock in a report on Thursday, May 9th. Barclays dropped their price target on shares of New Fortress Energy from $32.00 to $27.00 and set an "equal weight" rating on the stock in a research note on Monday, May 6th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of New Fortress Energy from $35.00 to $33.00 and set a "hold" rating on the stock in a research note on Thursday, May 9th. 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 MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $39.17.
Check Out Our Latest Research Report on New Fortress Energy
New Fortress Energy Stock Down 2.1 %
The company has a current ratio of 0.66, a quick ratio of 0.54 and a debt-to-equity ratio of 3.74. The firm has a market cap of $4.10 billion, a P/E ratio of 9.08 and a beta of 1.49. The company's 50 day simple moving average is $24.46 and its 200-day simple moving average is $29.80.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last posted its earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.07. The business had revenue of $690.30 million for the quarter, compared to analysts' expectations of $602.41 million. New Fortress Energy had a net margin of 17.90% and a return on equity of 31.34%. The business's revenue for the quarter was up 19.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 EPS. Research analysts forecast that New Fortress Energy Inc. will post 1.99 earnings per share for the current fiscal year.
New Fortress Energy Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Saturday, June 15th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.00%. The ex-dividend date was Friday, June 14th. New Fortress Energy's dividend payout ratio is currently 18.18%.
Institutional Investors Weigh In On New Fortress Energy
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Virtu Financial LLC purchased a new stake in shares of New Fortress Energy during the 1st quarter valued at about $1,036,000. Comerica Bank increased its holdings in New Fortress Energy by 1,775.9% in the 1st quarter. Comerica Bank now owns 27,445 shares of the company's stock worth $840,000 after acquiring an additional 25,982 shares in the last quarter. Tidal Investments LLC increased its holdings in New Fortress Energy by 10.9% in the 1st quarter. Tidal Investments LLC now owns 10,297 shares of the company's stock worth $315,000 after acquiring an additional 1,009 shares in the last quarter. Janus Henderson Group PLC grew its holdings in New Fortress Energy by 187.5% during the 1st quarter. Janus Henderson Group PLC now owns 88,668 shares of the company's stock valued at $2,712,000 after buying an additional 57,823 shares in the last quarter. Finally, Bayesian Capital Management LP grew its holdings in New Fortress Energy by 42.1% during the 1st quarter. Bayesian Capital Management LP now owns 32,422 shares of the company's stock valued at $992,000 after buying an additional 9,600 shares in the last quarter. Hedge funds and other institutional investors own 58.61% of the company's stock.
About New Fortress Energy
(
Get Free Report)
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.
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