Stifel Nicolaus Lowers New Fortress Energy (NASDAQ:NFE) Price Target to $43.00

New Fortress Energy (NASDAQ:NFE) had its target price cut by stock analysts at Stifel Nicolaus from $45.00 to $43.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 60.51% from the company’s current price.

A number of other brokerages have also issued reports on NFE. Barclays cut their target price on shares of New Fortress Energy from $32.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Monday. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $35.00 price objective (down previously from $40.00) on shares of New Fortress Energy in a research note on Monday, March 4th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $38.29.

New Fortress Energy Stock Up 1.1 %

Shares of New Fortress Energy stock traded up $0.30 during trading on Thursday, reaching $26.79. The company had a trading volume of 75,942 shares, compared to its average volume of 1,340,049. The company has a market cap of $5.49 billion, a price-to-earnings ratio of 10.11 and a beta of 1.56. The firm’s fifty day moving average is $29.61 and its 200-day moving average is $32.81. The company has a debt-to-equity ratio of 3.66, a quick ratio of 0.51 and a current ratio of 0.57. New Fortress Energy has a fifty-two week low of $25.06 and a fifty-two week high of $40.04.

New Fortress Energy (NASDAQ:NFE) last issued its earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. The business had revenue of $690.30 million for the quarter, compared to analyst estimates of $602.41 million. New Fortress Energy had a net margin of 22.70% and a return on equity of 36.16%. The company’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.90 EPS. On average, analysts anticipate that New Fortress Energy will post 2.97 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NFE. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of New Fortress Energy by 563.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,387 shares of the company’s stock valued at $42,000 after acquiring an additional 1,178 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of New Fortress Energy in the first quarter valued at approximately $95,000. Van ECK Associates Corp boosted its holdings in shares of New Fortress Energy by 15.3% in the third quarter. Van ECK Associates Corp now owns 3,623 shares of the company’s stock valued at $119,000 after acquiring an additional 482 shares in the last quarter. Kapitalo Investimentos Ltda bought a new position in shares of New Fortress Energy in the fourth quarter valued at approximately $119,000. Finally, ORG Partners LLC boosted its holdings in shares of New Fortress Energy by 14.3% in the third quarter. ORG Partners LLC now owns 4,206 shares of the company’s stock valued at $138,000 after acquiring an additional 526 shares in the last quarter. 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.