New Fortress Energy (NASDAQ:NFE) Price Target Cut to $15.00

New Fortress Energy (NASDAQ:NFE) had its price target lowered by BTIG Research from $35.00 to $15.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other analysts have also recently weighed in on the company. Barclays dropped their price objective on New Fortress Energy from $27.00 to $19.00 and set an equal weight rating for the company in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of New Fortress Energy from $26.00 to $21.00 and set a hold rating on the stock in a research note on Monday, August 12th. Finally, Stifel Nicolaus lowered their target price on shares of New Fortress Energy from $40.00 to $17.00 and set a buy rating for the company in a report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus target price of $23.40.

New Fortress Energy Price Performance

Shares of NFE stock opened at $12.16 on Friday. The stock’s fifty day moving average is $15.99 and its 200-day moving average is $22.93. The company has a debt-to-equity ratio of 4.38, a quick ratio of 0.63 and a current ratio of 0.72. The stock has a market capitalization of $2.49 billion, a PE ratio of 5.53 and a beta of 1.53. New Fortress Energy has a 52 week low of $9.44 and a 52 week high of $40.04.

New Fortress Energy (NASDAQ:NFE) last announced its earnings results on Friday, August 9th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.50). The business had revenue of $428.00 million for the quarter, compared to the consensus estimate of $465.52 million. New Fortress Energy had a return on equity of 18.80% and a net margin of 10.19%. New Fortress Energy’s revenue for the quarter was down 23.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.58 EPS. Equities research analysts expect that New Fortress Energy will post 0.58 EPS for the current fiscal year.

New Fortress Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.29%. New Fortress Energy’s dividend payout ratio is 18.18%.

Institutional Trading of New Fortress Energy

A number of large investors have recently made changes to their positions in NFE. Primecap Management Co. CA raised its stake in New Fortress Energy by 73.9% during the 2nd quarter. Primecap Management Co. CA now owns 8,026,130 shares of the company’s stock worth $176,414,000 after buying an additional 3,410,630 shares during the period. William Blair Investment Management LLC raised its stake in New Fortress Energy by 31.0% during the 1st quarter. William Blair Investment Management LLC now owns 8,916,242 shares of the company’s stock worth $272,748,000 after buying an additional 2,111,360 shares during the period. M&G Plc acquired a new stake in New Fortress Energy during the 1st quarter worth $51,569,000. Capital World Investors raised its stake in New Fortress Energy by 8.3% during the 4th quarter. Capital World Investors now owns 14,964,622 shares of the company’s stock worth $564,615,000 after buying an additional 1,152,125 shares during the period. Finally, Kailix Advisors LLC raised its stake in New Fortress Energy by 83.6% during the 1st quarter. Kailix Advisors LLC now owns 1,969,453 shares of the company’s stock worth $60,246,000 after buying an additional 896,671 shares during the period. 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.