Barclays Trims New Fortress Energy (NASDAQ:NFE) Target Price to $27.00

New Fortress Energy (NASDAQ:NFE) had its price objective reduced by Barclays from $32.00 to $27.00 in a report released on Monday, Benzinga reports. They currently have an equal weight rating on the stock.

NFE has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft restated a hold rating and issued a $35.00 price target (down previously from $40.00) on shares of New Fortress Energy in a research note on Monday, March 4th. Stifel Nicolaus lowered their price target on New Fortress Energy from $49.00 to $45.00 and set a buy rating on the stock in a report on Friday, March 1st. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $38.57.

New Fortress Energy Price Performance

Shares of NASDAQ:NFE opened at $26.49 on Monday. New Fortress Energy has a 1-year low of $25.06 and a 1-year high of $40.04. The business has a fifty day moving average price of $29.61 and a 200-day moving average price of $32.81. The company has a market capitalization of $5.43 billion, a PE ratio of 10.00 and a beta of 1.56. The company has a debt-to-equity ratio of 3.66, a current ratio of 0.57 and a quick ratio of 0.51.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings data on Thursday, February 29th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.08. New Fortress Energy had a net margin of 22.70% and a return on equity of 36.16%. The business had revenue of $758.60 million during the quarter, compared to analyst estimates of $647.54 million. During the same period last year, the business earned $0.87 EPS. New Fortress Energy’s revenue was up 38.8% compared to the same quarter last year. As a group, equities analysts expect that New Fortress Energy will post 2.97 EPS for the current fiscal year.

New Fortress Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Friday, March 15th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.40 annualized dividend and a dividend yield of 1.51%. New Fortress Energy’s dividend payout ratio (DPR) is 15.09%.

Institutional Trading of New Fortress Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Commonwealth Equity Services LLC raised its position in shares of New Fortress Energy by 28.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 23,294 shares of the company’s stock valued at $764,000 after purchasing an additional 5,100 shares during the period. Xponance Inc. lifted its position in shares of New Fortress Energy by 13.8% in the third quarter. Xponance Inc. now owns 8,841 shares of the company’s stock valued at $290,000 after acquiring an additional 1,070 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of New Fortress Energy by 69.7% in the third quarter. Bank of New York Mellon Corp now owns 301,329 shares of the company’s stock worth $9,878,000 after acquiring an additional 123,815 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of New Fortress Energy by 24.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,365 shares of the company’s stock worth $438,000 after purchasing an additional 2,591 shares in the last quarter. Finally, Castleview Partners LLC raised its stake in New Fortress Energy by 39.6% during the 3rd quarter. Castleview Partners LLC now owns 5,148 shares of the company’s stock valued at $169,000 after purchasing an additional 1,459 shares during the period. Hedge funds and other 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.