New Fortress Energy (NASDAQ:NFE) Trading 4.9% Higher

New Fortress Energy Inc. (NASDAQ:NFE)’s share price rose 4.9% on Wednesday . The company traded as high as $13.76 and last traded at $13.74. Approximately 1,596,329 shares changed hands during trading, a decline of 21% from the average daily volume of 2,015,580 shares. The stock had previously closed at $13.10.

Wall Street Analysts Forecast Growth

NFE has been the topic of a number of recent analyst reports. Barclays dropped their price objective on New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft lowered their target price on New Fortress Energy from $26.00 to $21.00 and set a “hold” rating for the company in a report on Monday. Finally, Stifel Nicolaus cut their price target on New Fortress Energy from $40.00 to $17.00 and set a “buy” rating on the stock in a report on Monday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, New Fortress Energy presently has an average rating of “Hold” and an average price target of $29.00.

New Fortress Energy Trading Up 6.6 %

The company has a quick ratio of 0.54, a current ratio of 0.66 and a debt-to-equity ratio of 3.74. The company has a market capitalization of $2.86 billion, a P/E ratio of 6.37 and a beta of 1.49. The firm’s 50-day moving average price is $20.49 and its 200 day moving average price is $26.34.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings data on Friday, August 9th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.50). New Fortress Energy had a return on equity of 31.34% and a net margin of 17.90%. The company had revenue of $428.00 million during the quarter, compared to analysts’ expectations of $465.52 million. During the same period last year, the company earned $0.58 earnings per share. The business’s revenue for the quarter was down 23.7% compared to the same quarter last year. As a group, equities research analysts predict that New Fortress Energy Inc. will post 2.03 earnings per share for the current year.

New Fortress Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders 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 yield of 2.87%. New Fortress Energy’s dividend payout ratio is presently 18.18%.

Institutional Investors Weigh In On New Fortress Energy

Several institutional investors have recently made changes to their positions in NFE. Raymond James Financial Services Advisors Inc. bought a new position in shares of New Fortress Energy in the fourth quarter valued at approximately $210,000. Mackenzie Financial Corp purchased a new position in shares of New Fortress Energy during the 4th quarter valued at $3,021,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of New Fortress Energy by 5.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,081 shares of the company’s stock valued at $531,000 after purchasing an additional 716 shares in the last quarter. Linden Thomas Advisory Services LLC increased its holdings in shares of New Fortress Energy by 3.2% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 50,217 shares of the company’s stock worth $1,895,000 after purchasing an additional 1,560 shares during the period. Finally, O Brien Greene & Co. Inc raised its position in shares of New Fortress Energy by 10.4% in the fourth quarter. O Brien Greene & Co. Inc now owns 15,015 shares of the company’s stock worth $567,000 after buying an additional 1,420 shares in the last quarter. Hedge funds and other institutional investors own 58.61% of the company’s stock.

New Fortress Energy Company Profile

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.