New Fortress Energy Inc. (NASDAQ:NFE) Receives Consensus Rating of "Moderate Buy" from Brokerages

New Fortress Energy Inc. (NASDAQ:NFE - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the six brokerages that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $10.17.

Several research firms recently issued reports on NFE. BTIG Research set a $8.00 price objective on New Fortress Energy and gave the company a "buy" rating in a research report on Thursday, May 15th. Citigroup lowered their price objective on New Fortress Energy from $34.00 to $8.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Morgan Stanley set a $4.00 price objective on New Fortress Energy and gave the company an "equal weight" rating in a research report on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft set a $8.00 price target on New Fortress Energy in a report on Wednesday, March 12th. Finally, Stifel Nicolaus lowered their price target on New Fortress Energy from $16.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd.

Insider Activity

In related news, CFO Christopher S. Guinta acquired 5,000 shares of New Fortress Energy stock in a transaction dated Thursday, March 13th. The stock was purchased at an average cost of $8.57 per share, for a total transaction of $42,850.00. Following the purchase, the chief financial officer now directly owns 206,653 shares of the company's stock, valued at approximately $1,771,016.21. This trade represents a 2.48% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 29.40% of the company's stock.

Institutional Investors Weigh In On New Fortress Energy

Several hedge funds and other institutional investors have recently modified their holdings of NFE. Hood River Capital Management LLC purchased a new stake in shares of New Fortress Energy in the 4th quarter worth $155,023,000. Capital World Investors increased its stake in shares of New Fortress Energy by 87.9% in the 4th quarter. Capital World Investors now owns 19,925,022 shares of the company's stock worth $301,266,000 after purchasing an additional 9,319,985 shares in the last quarter. William Blair Investment Management LLC increased its stake in shares of New Fortress Energy by 40.8% in the 4th quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company's stock worth $235,374,000 after purchasing an additional 4,509,177 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of New Fortress Energy by 31.8% in the 4th quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company's stock worth $171,147,000 after purchasing an additional 2,728,191 shares in the last quarter. Finally, American Assets Investment Management LLC increased its stake in New Fortress Energy by 888.8% in the 1st quarter. American Assets Investment Management LLC now owns 1,859,106 shares of the company's stock worth $15,449,000 after buying an additional 1,671,094 shares in the last quarter. 58.61% of the stock is currently owned by hedge funds and other institutional investors.

New Fortress Energy Stock Up 2.4%

NFE stock traded up $0.06 during midday trading on Thursday, hitting $2.55. The company's stock had a trading volume of 5,868,832 shares, compared to its average volume of 6,016,707. The company has a market cap of $698.12 million, a PE ratio of 2.80 and a beta of 1.45. New Fortress Energy has a 12 month low of $2.26 and a 12 month high of $26.22. 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's 50-day moving average is $5.31 and its 200-day moving average is $9.91.

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

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.