Stifel Nicolaus Lowers New Fortress Energy (NASDAQ:NFE) Price Target to $17.00

New Fortress Energy (NASDAQ:NFE) had its target price dropped by analysts at Stifel Nicolaus from $40.00 to $17.00 in a report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target indicates a potential upside of 29.77% from the company’s previous close.

Several other equities research analysts have also issued reports on NFE. Barclays dropped their target price on shares of New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft cut their target price on shares of New Fortress Energy from $33.00 to $26.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $29.00.

New Fortress Energy Trading Down 7.2 %

Shares of NFE stock opened at $13.10 on Monday. The company has a market capitalization of $2.69 billion, a PE ratio of 5.95 and a beta of 1.49. New Fortress Energy has a 52-week low of $12.63 and a 52-week high of $40.04. The business’s fifty day moving average is $20.71 and its 200 day moving average is $26.48. The company has a debt-to-equity ratio of 3.74, a quick ratio of 0.54 and a current ratio of 0.66.

New Fortress Energy (NASDAQ:NFE) last announced its earnings results on Friday, August 9th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.50). The business had revenue of $428.00 million during the quarter, compared to the consensus estimate of $465.52 million. New Fortress Energy had a return on equity of 31.34% and a net margin of 17.90%. New Fortress Energy’s revenue was down 23.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.58 earnings per share. On average, equities research analysts anticipate that New Fortress Energy will post 2.03 EPS for the current fiscal year.

Hedge Funds Weigh In On New Fortress Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of New Fortress Energy by 5.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,081 shares of the company’s stock valued at $531,000 after purchasing an additional 716 shares during the period. Maryland State Retirement & Pension System boosted its position in New Fortress Energy by 1.3% during the 4th quarter. Maryland State Retirement & Pension System now owns 58,877 shares of the company’s stock valued at $2,221,000 after buying an additional 736 shares during the period. X Square Capital LLC grew its holdings in New Fortress Energy by 0.6% in the 2nd quarter. X Square Capital LLC now owns 137,396 shares of the company’s stock worth $3,020,000 after acquiring an additional 781 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of New Fortress Energy by 4.8% in the second quarter. Commonwealth Equity Services LLC now owns 21,719 shares of the company’s stock valued at $477,000 after acquiring an additional 999 shares during the period. Finally, Tidal Investments LLC raised its stake in shares of New Fortress Energy by 10.9% during the first quarter. Tidal Investments LLC now owns 10,297 shares of the company’s stock valued at $315,000 after acquiring an additional 1,009 shares during the last quarter. 58.61% of the stock is currently owned by 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.