New Fortress Energy Inc. (NASDAQ:NFE - Get Free Report) dropped 6.9% during trading on Wednesday . The stock traded as low as $26.71 and last traded at $26.86. Approximately 1,107,352 shares were traded during trading, a decline of 20% from the average daily volume of 1,375,859 shares. The stock had previously closed at $28.86.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on NFE. Deutsche Bank Aktiengesellschaft dropped their price target on 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. Barclays dropped their target price on shares of New Fortress Energy from $32.00 to $27.00 and set an "equal weight" rating on the stock in a research report on Monday, May 6th. Finally, Stifel Nicolaus decreased their price objective on shares of 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. Four equities research 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, New Fortress Energy currently has a consensus rating of "Hold" and a consensus price target of $38.00.
Read Our Latest Report on NFE
New Fortress Energy Price Performance
The company has a debt-to-equity ratio of 3.74, a current ratio of 0.66 and a quick ratio of 0.54. The stock's 50 day moving average price is $29.12 and its two-hundred day moving average price is $32.71. The firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of 12.26 and a beta of 1.55.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last released its earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.07. New Fortress Energy had a net margin of 17.90% and a return on equity of 31.34%. The firm had revenue of $690.30 million during the quarter, compared to analyst estimates of $602.41 million. During the same quarter in the previous year, the business earned $0.90 EPS. The business's revenue was up 19.2% on a year-over-year basis. On average, equities research analysts anticipate that New Fortress Energy Inc. will post 2.37 EPS for the current year.
New Fortress Energy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Saturday, June 15th will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.40 annualized dividend and a dividend yield of 1.51%. New Fortress Energy's dividend payout ratio is 18.18%.
Institutional Trading of New Fortress Energy
Hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised its position in shares of New Fortress Energy by 5.0% during the third quarter. PNC Financial Services Group Inc. now owns 6,730 shares of the company's stock valued at $221,000 after buying an additional 319 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in New Fortress Energy by 2.8% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 14,137 shares of the company's stock valued at $463,000 after acquiring an additional 384 shares in the last quarter. Van ECK Associates Corp raised its holdings in New Fortress Energy by 15.3% in the 3rd quarter. Van ECK Associates Corp now owns 3,623 shares of the company's stock valued at $119,000 after acquiring an additional 482 shares in the last quarter. ORG Partners LLC lifted its position in shares of New Fortress Energy by 14.3% in the 3rd quarter. ORG Partners LLC now owns 4,206 shares of the company's stock worth $138,000 after acquiring an additional 526 shares during the period. Finally, Hohimer Wealth Management LLC grew its holdings in shares of New Fortress Energy by 1.3% during the 3rd quarter. Hohimer Wealth Management LLC now owns 46,651 shares of the company's stock worth $1,529,000 after purchasing an additional 589 shares in the last quarter. 58.61% of the stock is owned by institutional investors.
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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