Stifel Nicolaus Has Lowered Expectations for New Fortress Energy (NASDAQ:NFE) Stock Price

New Fortress Energy (NASDAQ:NFE) had its target price cut by equities research analysts at Stifel Nicolaus from $23.00 to $19.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 104.92% from the stock’s previous close.

Several other analysts have also recently issued reports on the company. Morgan Stanley decreased their price objective on New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday. Deutsche Bank Aktiengesellschaft raised shares of New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 target price on the stock in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.60.

New Fortress Energy Price Performance

NFE stock traded up $0.23 during midday trading on Tuesday, hitting $9.27. The company’s stock had a trading volume of 3,924,708 shares, compared to its average volume of 4,297,371. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of 10.16 and a beta of 1.49. The company has a quick ratio of 0.35, a current ratio of 0.38 and a debt-to-equity ratio of 4.06. New Fortress Energy has a 12 month low of $7.82 and a 12 month high of $34.40. The company has a 50 day moving average of $13.75 and a two-hundred day moving average of $11.63.

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

Hedge Funds Weigh In On New Fortress Energy

Institutional investors have recently bought and sold shares of the business. Capital World Investors boosted its position in New Fortress Energy by 87.9% during the 4th quarter. Capital World Investors now owns 19,925,022 shares of the company’s stock valued at $301,266,000 after acquiring an additional 9,319,985 shares in the last quarter. William Blair Investment Management LLC lifted its stake in shares of New Fortress Energy by 40.8% during the 4th quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company’s stock worth $235,374,000 after purchasing an additional 4,509,177 shares during the last quarter. Primecap Management Co. CA boosted its position in New Fortress Energy by 13.6% during the fourth quarter. Primecap Management Co. CA now owns 13,096,998 shares of the company’s stock valued at $198,027,000 after purchasing an additional 1,564,893 shares in the last quarter. Vanguard Group Inc. grew its stake in New Fortress Energy by 31.8% in the fourth quarter. Vanguard Group Inc. now owns 11,319,248 shares of the company’s stock valued at $171,147,000 after purchasing an additional 2,728,191 shares during the last quarter. Finally, Hood River Capital Management LLC purchased a new position in New Fortress Energy in the fourth quarter valued at about $155,023,000. 58.61% of the stock is owned by hedge funds and other institutional investors.

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.