Morgan Stanley Lowers New Fortress Energy (NASDAQ:NFE) Price Target to $14.00

New Fortress Energy (NASDAQ:NFE - Get Free Report) had its price target lowered by equities research analysts at Morgan Stanley from $15.00 to $14.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's target price indicates a potential upside of 41.84% from the stock's previous close.

Other equities research analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft upgraded New Fortress Energy from a "sell" rating to a "hold" rating and set a $11.00 price target for the company in a research note on Wednesday, December 4th. Stifel Nicolaus upped their target price on New Fortress Energy from $16.00 to $17.00 and gave the company a "buy" rating in a research report on Monday, December 23rd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, New Fortress Energy currently has a consensus rating of "Hold" and a consensus price target of $15.60.

New Fortress Energy Stock Performance

NFE stock traded up $0.18 during trading hours on Tuesday, hitting $9.87. 4,056,484 shares of the stock were exchanged, compared to its average volume of 4,492,275. New Fortress Energy has a 12 month low of $7.82 and a 12 month high of $33.83. The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06. The firm has a market capitalization of $2.69 billion, a P/E ratio of 10.85 and a beta of 1.58. The company has a 50-day simple moving average of $13.39 and a two-hundred day simple moving average of $11.56.

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New Fortress Energy (NASDAQ:NFE - Get Free Report) last released its quarterly earnings results on Monday, March 3rd. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.07. The business had revenue of $679.00 million for the quarter, compared to analyst estimates of $613.24 million. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. On average, analysts forecast that New Fortress Energy will post 0.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. KBC Group NV increased its stake in shares of New Fortress Energy by 116.9% in the 3rd quarter. KBC Group NV now owns 3,436 shares of the company's stock valued at $31,000 after purchasing an additional 1,852 shares during the last quarter. US Bancorp DE boosted its stake in New Fortress Energy by 344.6% in the third quarter. US Bancorp DE now owns 3,570 shares of the company's stock valued at $32,000 after buying an additional 2,767 shares in the last quarter. Allworth Financial LP grew its position in New Fortress Energy by 2,156.0% in the fourth quarter. Allworth Financial LP now owns 2,053 shares of the company's stock valued at $32,000 after acquiring an additional 1,962 shares during the last quarter. GAMMA Investing LLC raised its stake in New Fortress Energy by 148.5% during the fourth quarter. GAMMA Investing LLC now owns 3,966 shares of the company's stock worth $60,000 after acquiring an additional 2,370 shares in the last quarter. Finally, Quarry LP bought a new position in shares of New Fortress Energy in the fourth quarter worth about $64,000. 58.61% of the stock is currently owned by institutional investors and hedge funds.

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.