New Fortress Energy Inc. (NASDAQ:NFE) Declares Quarterly Dividend of $0.10

New Fortress Energy Inc. (NASDAQ:NFE) announced a quarterly dividend on Thursday, May 9th, Wall Street Journal reports. Investors of record on Saturday, June 15th will be given a dividend of 0.10 per share on Thursday, June 27th. This represents a $0.40 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Friday, June 14th.

New Fortress Energy has raised its dividend payment by an average of 157.1% per year over the last three years. New Fortress Energy has a payout ratio of 9.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect New Fortress Energy to earn $4.04 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 9.9%.

New Fortress Energy Stock Performance

Shares of NASDAQ:NFE traded up $0.99 during midday trading on Thursday, hitting $27.48. The company’s stock had a trading volume of 1,689,947 shares, compared to its average volume of 1,358,142. New Fortress Energy has a fifty-two week low of $25.06 and a fifty-two week high of $40.04. The company has a debt-to-equity ratio of 3.66, a quick ratio of 0.51 and a current ratio of 0.57. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of 10.34 and a beta of 1.56. The stock’s 50 day simple moving average is $29.61 and its 200 day simple moving average is $32.81.

New Fortress Energy (NASDAQ:NFE) last released its earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. The business had revenue of $690.30 million for the quarter, compared to the consensus estimate of $602.41 million. New Fortress Energy had a return on equity of 36.16% and a net margin of 22.70%. The firm’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period last year, the business earned $0.90 earnings per share. As a group, research analysts anticipate that New Fortress Energy will post 2.97 earnings per share for the current year.

Analysts Set New Price Targets

NFE has been the subject of several research reports. Stifel Nicolaus lowered their price objective on shares of New Fortress Energy from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft lowered their target price on shares of New Fortress Energy from $35.00 to $33.00 and set a “hold” rating for the company in a report on Thursday. Finally, Barclays reduced their price target on New Fortress Energy from $32.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Monday. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $38.00.

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.