New Fortress Energy (NASDAQ:NFE – Get Rating)‘s stock had its “buy” rating reissued by Citigroup in a research report issued on Thursday, The Fly reports. They currently have a $56.00 price target on the stock. Citigroup’s price target points to a potential upside of 36.42% from the stock’s current price.
Other equities analysts have also recently issued reports about the stock. TheStreet upgraded shares of New Fortress Energy from a “c” rating to a “b-” rating in a report on Thursday, May 5th. Stifel Nicolaus boosted their price target on shares of New Fortress Energy from $45.00 to $68.00 and gave the company a “buy” rating in a report on Monday, April 4th. Finally, Credit Suisse Group upped their price objective on shares of New Fortress Energy from $40.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, April 7th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $50.50.
NASDAQ NFE opened at $41.05 on Thursday. New Fortress Energy has a twelve month low of $19.17 and a twelve month high of $52.37. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.95 and a current ratio of 1.05. The stock has a market cap of $8.49 billion, a price-to-earnings ratio of 23.19 and a beta of 1.58. The firm’s 50 day moving average price is $42.81 and its two-hundred day moving average price is $34.96.
New Fortress Energy (NASDAQ:NFE – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The company reported $1.13 EPS for the quarter, beating the consensus estimate of $0.65 by $0.48. New Fortress Energy had a net margin of 22.19% and a return on equity of 23.65%. The business had revenue of $505.10 million for the quarter, compared to analysts’ expectations of $505.85 million. During the same period in the previous year, the company posted ($0.21) EPS. On average, research analysts forecast that New Fortress Energy will post 2.66 EPS for the current fiscal year.
In other news, major shareholder Nfe Smrs Holdings Llc sold 300,000 shares of the company’s stock in a transaction dated Tuesday, April 19th. The shares were sold at an average price of $45.28, for a total transaction of $13,584,000.00. Following the completion of the transaction, the insider now owns 32,459,846 shares of the company’s stock, valued at $1,469,781,826.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 48.80% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Signaturefd LLC acquired a new position in New Fortress Energy in the first quarter worth about $31,000. Krane Funds Advisors LLC acquired a new position in New Fortress Energy in the first quarter worth about $31,000. Van ECK Associates Corp raised its position in New Fortress Energy by 160.2% in the first quarter. Van ECK Associates Corp now owns 955 shares of the company’s stock worth $41,000 after purchasing an additional 588 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in New Fortress Energy by 41.1% during the first quarter. BNP Paribas Arbitrage SA now owns 1,084 shares of the company’s stock worth $46,000 after buying an additional 316 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in New Fortress Energy during the first quarter worth about $59,000. 49.35% of the stock is owned by hedge funds and other institutional investors.
New Fortress Energy Company Profile (Get Rating)
New Fortress Energy Inc operates as an integrated gas-to-power 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.
Recommended Stories
Receive News & Ratings for New Fortress Energy Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for New Fortress Energy and related companies with MarketBeat.com’s FREE daily email newsletter.
Source: defenseworld.net
