New Fortress Energy Inc. (NASDAQ:NFE) Given Consensus Recommendation of “Hold” by Brokerages

Shares of New Fortress Energy Inc. (NASDAQ:NFE) have been given an average recommendation of “Hold” by the six brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $19.77.

Several equities research analysts have recently commented on NFE shares. Stifel Nicolaus decreased their price objective on New Fortress Energy from $40.00 to $17.00 and set a “buy” rating for the company in a report on Monday, August 12th. BTIG Research dropped their price target on New Fortress Energy from $35.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, September 13th. Morgan Stanley lowered shares of New Fortress Energy from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $35.00 to $15.00 in a research report on Thursday, October 3rd. Barclays dropped their price objective on shares of New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft restated a “sell” rating and issued a $7.60 target price (down previously from $21.00) on shares of New Fortress Energy in a research note on Tuesday, October 1st.

New Fortress Energy Price Performance

Shares of NASDAQ:NFE opened at $8.00 on Friday. The company has a debt-to-equity ratio of 4.38, a current ratio of 0.72 and a quick ratio of 0.63. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 6.78 and a beta of 1.51. New Fortress Energy has a one year low of $7.82 and a one year high of $40.04. The firm has a 50 day simple moving average of $10.13 and a 200 day simple moving average of $18.09.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings results on Friday, August 9th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.50). The firm had revenue of $428.00 million during the quarter, compared to analyst estimates of $465.52 million. New Fortress Energy had a return on equity of 18.80% and a net margin of 10.19%. The firm’s revenue for the quarter was down 23.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.58 EPS. Research analysts predict that New Fortress Energy will post 0.52 earnings per share for the current fiscal year.

New Fortress Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 5.00%. The ex-dividend date was Friday, September 13th. New Fortress Energy’s dividend payout ratio (DPR) is 33.90%.

Insider Buying and Selling

In related news, CEO Wesley R. Edens acquired 5,793,742 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was acquired at an average cost of $8.63 per share, for a total transaction of $49,999,993.46. Following the acquisition, the chief executive officer now owns 35,721,915 shares of the company’s stock, valued at $308,280,126.45. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 37.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. X Square Capital LLC increased its stake in shares of New Fortress Energy by 0.6% in the second quarter. X Square Capital LLC now owns 137,396 shares of the company’s stock worth $3,020,000 after purchasing an additional 781 shares in the last quarter. Maryland State Retirement & Pension System raised its position in shares of New Fortress Energy by 1.5% in the 1st quarter. Maryland State Retirement & Pension System now owns 59,765 shares of the company’s stock worth $1,828,000 after acquiring an additional 888 shares in the last quarter. Commonwealth Equity Services LLC grew its position in shares of New Fortress Energy by 4.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 21,719 shares of the company’s stock worth $477,000 after buying an additional 999 shares during the last quarter. Tidal Investments LLC increased its position in shares of New Fortress Energy by 10.9% during the first quarter. Tidal Investments LLC now owns 10,297 shares of the company’s stock worth $315,000 after purchasing an additional 1,009 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of New Fortress Energy by 4.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,784 shares of the company’s stock valued at $479,000 after acquiring an additional 1,024 shares during the period. 58.61% of the stock is owned by hedge funds and other institutional investors.

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.