New Fortress Energy (NASDAQ:NFE) Price Target Cut to $14.00 by Analysts at Morgan Stanley

New Fortress Energy (NASDAQ:NFE) had its price objective reduced by analysts at Morgan Stanley from $15.00 to $14.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 35.40% from the stock’s current price.

Several other brokerages also recently weighed in on NFE. Stifel Nicolaus raised their price target on New Fortress Energy from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Deutsche Bank Aktiengesellschaft raised New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 target price for the company in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $15.60.

New Fortress Energy Price Performance

Shares of NASDAQ NFE opened at $10.34 on Tuesday. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38. The company has a market cap of $2.82 billion, a PE ratio of 11.36 and a beta of 1.58. The business has a 50-day simple moving average of $13.57 and a two-hundred day simple moving average of $11.59. New Fortress Energy has a fifty-two week low of $7.82 and a fifty-two week high of $34.40.

New Fortress Energy (NASDAQ:NFE) last issued its quarterly earnings results on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.07. The business had revenue of $679.00 million during the quarter, compared to the consensus estimate of $613.24 million. New Fortress Energy had a return on equity of 15.60% and a net margin of 7.84%. As a group, equities analysts expect that New Fortress Energy will post 0.36 EPS for the current fiscal year.

Institutional Investors Weigh In On New Fortress Energy

Institutional investors and hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio raised its position in New Fortress Energy by 16.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 27,425 shares of the company’s stock valued at $415,000 after acquiring an additional 3,778 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in New Fortress Energy by 40.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 197,427 shares of the company’s stock valued at $2,985,000 after acquiring an additional 56,760 shares in the last quarter. Waverly Advisors LLC purchased a new position in New Fortress Energy during the fourth quarter valued at approximately $242,000. Two Sigma Investments LP raised its position in New Fortress Energy by 186.9% during the fourth quarter. Two Sigma Investments LP now owns 170,852 shares of the company’s stock valued at $2,583,000 after acquiring an additional 111,300 shares in the last quarter. Finally, Shay Capital LLC purchased a new position in New Fortress Energy during the fourth quarter valued at approximately $16,866,000. Institutional investors and hedge funds 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.