New Fortress Energy LLC (NASDAQ:NFE) Receives Average Rating of "Hold" from Brokerages

Key Points

• New Fortress Energy LLC has received an average consensus rating of "Hold" from eight analysts, with five recommending hold and three recommending buy.
• The company's stock has a 12-month price objective averaging $7.8750 according to analysts.
• New Fortress Energy recently saw significant changes in institutional investment, with Osaic Holdings Inc. increasing its position by 244.7% in the second quarter.

New Fortress Energy LLC (NASDAQ:NFE - Get Free Report) has received a consensus rating of "Hold" from the nine research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $7.8750.

Several analysts have weighed in on the company. New Street Research set a $8.50 price objective on New Fortress Energy in a report on Monday, June 30th. BTIG Research cut shares of New Fortress Energy from a "buy" rating to a "neutral" rating in a research report on Thursday, June 26th. Johnson Rice lowered shares of New Fortress Energy from a "buy" rating to a "hold" rating and cut their price objective for the company from $7.00 to $4.00 in a report on Wednesday, August 13th. Morgan Stanley set a $4.00 target price on shares of New Fortress Energy and gave the stock an "equal weight" rating in a report on Tuesday, May 27th. Finally, Capital One Financial reiterated an "underweight" rating on shares of New Fortress Energy in a research report on Monday.

New Fortress Energy Price Performance

Shares of NFE traded down $0.06 during mid-day trading on Friday, reaching $1.35. The company had a trading volume of 8,701,443 shares, compared to its average volume of 9,337,999. The company has a debt-to-equity ratio of 4.77, a current ratio of 1.00 and a quick ratio of 0.95. The company has a market capitalization of $368.80 million, a P/E ratio of -0.35 and a beta of 0.99. New Fortress Energy has a twelve month low of $1.26 and a twelve month high of $16.66. The company's 50-day moving average is $3.08 and its 200-day moving average is $4.92.

New Fortress Energy (NASDAQ:NFE - Get Free Report) last released its quarterly earnings results on Friday, September 5th. The company reported ($0.84) EPS for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.55). The firm had revenue of $432.29 million during the quarter, compared to analyst estimates of $480.47 million. New Fortress Energy had a negative net margin of 48.94% and a negative return on equity of 21.18%. New Fortress Energy's quarterly revenue was down 29.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.41) earnings per share. On average, equities analysts anticipate that New Fortress Energy will post 0.36 EPS for the current year.

Hedge Funds Weigh In On New Fortress Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of New Fortress Energy by 22.6% in the first quarter. Vanguard Group Inc. now owns 13,879,490 shares of the company's stock valued at $115,339,000 after acquiring an additional 2,560,242 shares during the period. American Assets Investment Management LLC increased its stake in shares of New Fortress Energy by 888.8% in the first quarter. American Assets Investment Management LLC now owns 1,859,106 shares of the company's stock valued at $15,449,000 after buying an additional 1,671,094 shares during the period. Norges Bank bought a new stake in shares of New Fortress Energy in the 2nd quarter valued at $5,278,000. Geode Capital Management LLC raised its position in shares of New Fortress Energy by 71.2% in the 2nd quarter. Geode Capital Management LLC now owns 3,661,857 shares of the company's stock worth $12,159,000 after acquiring an additional 1,522,324 shares in the last quarter. Finally, Shay Capital LLC boosted its stake in New Fortress Energy by 7,990.2% during the 2nd quarter. Shay Capital LLC now owns 1,525,000 shares of the company's stock valued at $5,063,000 after purchasing an additional 1,506,150 shares during the last quarter. 58.61% of the stock is owned by institutional investors.

New Fortress Energy Company Profile

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.