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

New Fortress Energy (NASDAQ:NFE) had its price objective trimmed by Barclays from $32.00 to $27.00 in a report issued on Monday, Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other brokerages also recently issued reports on NFE. Deutsche Bank Aktiengesellschaft reaffirmed a hold rating and issued a $35.00 price target (down from $40.00) on shares of New Fortress Energy in a research report on Monday, March 4th. Stifel Nicolaus dropped their price target on New Fortress Energy from $49.00 to $45.00 and set a buy rating on the stock in a research report on Friday, March 1st. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $38.57.

New Fortress Energy Stock Performance

NFE stock opened at $26.49 on Monday. The firm has a 50 day simple moving average of $29.61 and a 200 day simple moving average of $32.81. New Fortress Energy has a 52 week low of $25.06 and a 52 week high of $40.04. The stock has a market cap of $5.43 billion, a P/E ratio of 10.00 and a beta of 1.56. 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 (NASDAQ:NFE) last released its quarterly earnings data on Thursday, February 29th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.08. The firm had revenue of $758.60 million during the quarter, compared to analysts’ expectations of $647.54 million. New Fortress Energy had a return on equity of 36.16% and a net margin of 22.70%. The business’s revenue for the quarter was up 38.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.87 earnings per share. Research analysts anticipate that New Fortress Energy will post 2.97 earnings per share for the current fiscal year.

New Fortress Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Friday, March 15th were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.51%. New Fortress Energy’s dividend payout ratio is 15.09%.

Institutional Trading of New Fortress Energy

A number of large investors have recently made changes to their positions in NFE. William Blair Investment Management LLC increased its stake in New Fortress Energy by 31.0% during the 1st quarter. William Blair Investment Management LLC now owns 8,916,242 shares of the company’s stock worth $272,748,000 after purchasing an additional 2,111,360 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of New Fortress Energy during the first quarter worth $95,000. Sei Investments Co. raised its holdings in shares of New Fortress Energy by 2.8% during the first quarter. Sei Investments Co. now owns 47,887 shares of the company’s stock worth $1,465,000 after acquiring an additional 1,326 shares during the period. Quantbot Technologies LP bought a new stake in New Fortress Energy in the 1st quarter valued at $292,000. Finally, Wellington Shields & Co. LLC boosted its stake in New Fortress Energy by 34.1% in the 1st quarter. Wellington Shields & Co. LLC now owns 6,066 shares of the company’s stock worth $186,000 after purchasing an additional 1,544 shares during the period. 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.