New Fortress Energy (NASDAQ:NFE) Price Target Cut to $27.00 by Analysts at Barclays

New Fortress Energy (NASDAQ:NFE) had its price target reduced by analysts at Barclays from $32.00 to $27.00 in a report released on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s target price would suggest a potential upside of 2.16% from the stock’s current price.

NFE has been the topic of several other research reports. Stifel Nicolaus decreased their price objective on shares of New Fortress Energy from $49.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, March 1st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $35.00 price target (down previously from $40.00) on shares of New Fortress Energy in a research note on Monday, March 4th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $38.57.

New Fortress Energy Trading Down 0.9 %

Shares of NFE stock traded down $0.23 during trading hours on Monday, hitting $26.43. 828,803 shares of the company were exchanged, compared to its average volume of 1,303,086. New Fortress Energy has a 1 year low of $25.06 and a 1 year high of $40.04. The firm has a fifty day moving average of $29.93 and a 200 day moving average of $32.95. The firm has a market cap of $5.42 billion, a PE ratio of 10.02 and a beta of 1.56. The company has a quick ratio of 0.51, a current ratio of 0.57 and a debt-to-equity ratio of 3.66.

New Fortress Energy (NASDAQ:NFE) last issued its earnings results on Thursday, February 29th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.08. The company had revenue of $758.60 million for the quarter, compared to the consensus estimate of $647.54 million. New Fortress Energy had a return on equity of 36.16% and a net margin of 22.70%. The firm’s quarterly revenue was up 38.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 EPS. Analysts expect that New Fortress Energy will post 2.97 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Capital World Investors increased its holdings in New Fortress Energy by 8.3% during the 4th quarter. Capital World Investors now owns 14,964,622 shares of the company’s stock worth $564,615,000 after purchasing an additional 1,152,125 shares during the period. Vanguard Group Inc. grew its stake in shares of New Fortress Energy by 41.4% during the 3rd quarter. Vanguard Group Inc. now owns 8,481,836 shares of the company’s stock worth $278,035,000 after purchasing an additional 2,482,627 shares during the period. William Blair Investment Management LLC boosted its stake in shares of New Fortress Energy by 12.0% during the 3rd quarter. William Blair Investment Management LLC now owns 6,275,847 shares of the company’s stock worth $205,722,000 after acquiring an additional 674,685 shares in the last quarter. Federated Hermes Inc. boosted its position in New Fortress Energy by 10.8% during the third quarter. Federated Hermes Inc. now owns 4,401,700 shares of the company’s stock worth $144,288,000 after purchasing an additional 427,300 shares in the last quarter. Finally, Primecap Management Co. CA increased its holdings in New Fortress Energy by 553.0% during the 4th quarter. Primecap Management Co. CA now owns 3,438,300 shares of the company’s stock valued at $129,727,000 after acquiring an additional 2,911,800 shares in the last quarter. 58.61% of the stock is currently owned by institutional investors and hedge funds.

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.