New Fortress Energy (NASDAQ:NFE - Free Report) had its price objective decreased by Stifel Nicolaus from $16.00 to $14.00 in a report issued on Tuesday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.
A number of other research firms have also recently issued reports on NFE. Morgan Stanley decreased their price target on shares of New Fortress Energy from $15.00 to $14.00 and set an "equal weight" rating for the company in a report on Tuesday, March 4th. Citigroup lowered their price target on New Fortress Energy from $34.00 to $8.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft set a $8.00 price target on New Fortress Energy in a research note on Wednesday, March 12th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $13.00.
Get Our Latest Stock Report on NFE
New Fortress Energy Stock Down 6.0 %
NASDAQ:NFE traded down $0.35 during midday trading on Tuesday, reaching $5.52. 5,058,905 shares of the stock traded hands, compared to its average volume of 4,904,848. The stock has a market capitalization of $1.51 billion, a PE ratio of 6.07 and a beta of 1.52. New Fortress Energy has a 12-month low of $4.72 and a 12-month high of $29.11. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38. The business has a 50-day moving average of $8.36 and a two-hundred day moving average of $10.72.
New Fortress Energy (NASDAQ:NFE - Get Free Report) last posted 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 firm had revenue of $679.00 million for the quarter, compared to the consensus estimate of $613.24 million. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. On average, equities analysts forecast that New Fortress Energy will post 0.36 earnings per share for the current fiscal year.
Insider Activity at New Fortress Energy
In related news, CFO Christopher S. Guinta purchased 5,000 shares of New Fortress Energy stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average cost of $8.57 per share, for a total transaction of $42,850.00. Following the completion of the transaction, the chief financial officer now owns 206,653 shares in the company, valued at $1,771,016.21. The trade was a 2.48 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 37.10% of the stock is currently owned by insiders.
Institutional Investors Weigh In On New Fortress Energy
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Allworth Financial LP grew its position in New Fortress Energy by 2,156.0% during the fourth quarter. Allworth Financial LP now owns 2,053 shares of the company's stock valued at $32,000 after buying an additional 1,962 shares during the period. GAMMA Investing LLC boosted its stake in shares of New Fortress Energy by 148.5% during the 4th 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. Quarry LP acquired a new stake in shares of New Fortress Energy during the 4th quarter valued at about $64,000. US Bancorp DE increased its stake in shares of New Fortress Energy by 31.5% in the 4th quarter. US Bancorp DE now owns 4,696 shares of the company's stock valued at $71,000 after purchasing an additional 1,126 shares in the last quarter. Finally, Hardin Capital Partners LLC acquired a new position in New Fortress Energy in the 1st quarter worth about $83,000. Institutional investors and hedge funds own 58.61% of the company's stock.
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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