In yesterday’s Wall Street session, New Fortress Energy Inc. (NASDAQ:NFE) shares traded at $27.40, up 6.08% from the previous session.
10 analysts cover New Fortress Energy Inc. (NASDAQ:NFE), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $61.00 and a low of $31.00, we find $51.00. Given the previous closing price of $25.83, this indicates a potential upside of 97.44 percent. NFE stock price is now -4.10% away from the 50-day moving average and -27.51% away from the 200-day moving average. The market capitalization of the company currently stands at $5.30B.
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The stock has received a hold rating from 2 analysts and a buy rating from 7. Brokers who have rated the stock have averaged $50.60 as their price target over the next twelve months.
With the price target reduced from $59 to $31, BofA Securities Downgraded its rating from Buy to Neutral for New Fortress Energy Inc. (NASDAQ: NFE).
In other news, Catterall Desmond Iain, Director bought 4,734 shares of the company’s stock on May 26. The stock was bought for $125,640 at an average price of $26.54. Upon completion of the transaction, the Director now directly owns 4,734 shares in the company, valued at $0.13 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 24, Director Jay Timothy W. bought 2,000 shares of the business’s stock. A total of $55,700 was incurred on buying the stock at an average price of $27.85. This leaves the insider owning 32,221 shares of the company worth $0.88 million. Insiders disposed of 7,069,308 shares of company stock worth roughly $193.7 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in NFE stock. A new stake in New Fortress Energy Inc. shares was purchased by COVALIS (GIBRALTAR) LTD during the first quarter worth $12,079,000. QUBE RESEARCH & TECHNOLOGIES LTD invested $3,204,000 in shares of NFE during the first quarter. In the first quarter, INVESTMENT MANAGEMENT OF VIRGINIA LLC acquired a new stake in New Fortress Energy Inc. valued at approximately $2,837,000. ADVANCED PORTFOLIO MANAGEMENT, LLC acquired a new stake in NFE for approximately $2,740,000. CALLODINE CAPITAL MANAGEMENT, LP purchased a new stake in NFE valued at around $1,918,000 in the second quarter. In total, there are 363 active investors with 48.20% ownership of the company’s stock.
On Friday morning New Fortress Energy Inc. (NASDAQ: NFE) stock kicked off with the opening price of $25.83. During the past 12 months, New Fortress Energy Inc. has had a low of $25.06 and a high of $63.06. As of last week, the company has a debt-to-equity ratio of 4.08, a current ratio of 0.80, and a quick ratio of 0.80. The fifty day moving average price for NFE is $28.53 and a two-hundred day moving average price translates $37.69 for the stock.
The latest earnings results from New Fortress Energy Inc. (NASDAQ: NFE) was released for Mar, 2023. According to the Utilities – Regulated Gas Company, earnings per share came in at $0.9, beating analysts’ expectations of $0.82 by 0.08. This compares to $1.13 EPS in the same period last year. The net profit margin was 4.40% and return on equity was 6.70% for NFE. The company reported revenue of $579.13 million for the quarter, compared to $505.12 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 14.65 percent. For the current quarter, analysts expect NFE to generate $666.24M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/28/2023. Investors who held shares on 06/15/2023 were paid a $0.10 dividend. On an annualized basis, this represents a $0.20 dividend and a 0.73% percent yield. There was an ex-dividend date of 06/14/2023 for this dividend. In terms of dividend payout ratio, NFE is presently at 58.60%.
New Fortress Energy Inc.(NFE) 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. The Ships segment offers floating storage and regasification units (FRSU), and liquefied natural gas (LNG) carriers which are leased to customers under long-term or spot arrangements. The company operates LNG storage and regasification facility at the Port of Montego Bay, Jamaica; marine LNG storage and regasification facility in Old Harbour, Jamaica; landed micro-fuel handling facility in San Juan, Puerto Rico; FRSU in Sergipe, Brazil; and LNG receiving facility in La Paz, Mexico, as well as Miami facility. New Fortress Energy Inc. was founded in 1998 and is based in New York, New York.
