New Fortress Energy (NASDAQ:NFE) Price Target Lowered to $33.00 at Deutsche Bank Aktiengesellschaft

New Fortress Energy (NASDAQ:NFE - Get Free Report) had its price target decreased by Deutsche Bank Aktiengesellschaft from $35.00 to $33.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a "hold" rating on the stock. Deutsche Bank Aktiengesellschaft's target price would suggest a potential upside of 20.09% from the company's current price.

A number of other research analysts have also weighed in on NFE. Barclays cut their price objective on New Fortress Energy from $32.00 to $27.00 and set an "equal weight" rating for the company in a research report on Monday. Stifel Nicolaus cut their price target on New Fortress Energy from $45.00 to $43.00 and set a "buy" rating for the company in a report on Thursday. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, New Fortress Energy currently has an average rating of "Hold" and an average target price of $38.00.

New Fortress Energy Price Performance

Shares of NASDAQ:NFE traded up $0.99 during trading on Thursday, hitting $27.48. 1,708,721 shares of the company's stock were exchanged, compared to its average volume of 1,358,324. The business's 50-day simple moving average is $29.61 and its 200 day simple moving average is $32.81. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 10.37 and a beta of 1.56. New Fortress Energy has a 52-week low of $25.06 and a 52-week 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.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.60 by $0.07. New Fortress Energy had a net margin of 22.70% and a return on equity of 36.16%. The business had revenue of $690.30 million during the quarter, compared to analyst estimates of $602.41 million. During the same period last year, the firm posted $0.90 EPS. The company's revenue was up 19.2% on a year-over-year basis. As a group, equities analysts predict that New Fortress Energy will post 2.97 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Mackenzie Financial Corp bought a new stake in shares of New Fortress Energy during the 4th quarter worth approximately $3,021,000. Citigroup Inc. lifted its position in shares of New Fortress Energy by 9.7% during the third quarter. Citigroup Inc. now owns 12,341 shares of the company's stock worth $405,000 after purchasing an additional 1,092 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of New Fortress Energy by 41.4% during the third quarter. Vanguard Group Inc. now owns 8,481,836 shares of the company's stock valued at $278,035,000 after purchasing an additional 2,482,627 shares during the period. Callodine Capital Management LP grew its holdings in shares of New Fortress Energy by 40.5% in the third quarter. Callodine Capital Management LP now owns 316,120 shares of the company's stock worth $10,362,000 after purchasing an additional 91,120 shares during the last quarter. Finally, Crestwood Advisors Group LLC purchased a new position in New Fortress Energy in the 3rd quarter worth about $1,147,000. Institutional investors own 58.61% of the company's stock.

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.