New Fortress Energy (NASDAQ:NFE) Given New $19.00 Price Target at Stifel Nicolaus

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

Other equities research analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft raised New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 target price for the company in a research note on Wednesday, December 4th. Morgan Stanley lowered their price objective on New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $15.60.

New Fortress Energy Price Performance

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

New Fortress Energy (NASDAQ:NFE) last announced its quarterly earnings data 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. The company had revenue of $679.00 million during the quarter, compared to analysts’ expectations of $613.24 million. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. As a group, analysts expect that New Fortress Energy will post 0.36 earnings per share for the current year.

Hedge Funds Weigh In On New Fortress Energy

Several hedge funds have recently made changes to their positions in NFE. Hood River Capital Management LLC bought a new stake in New Fortress Energy in the fourth quarter valued at $155,023,000. Capital World Investors boosted its stake in shares of 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 purchasing an additional 9,319,985 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of New Fortress Energy by 40.8% during the fourth quarter. William Blair Investment Management LLC now owns 15,567,055 shares of the company’s stock valued at $235,374,000 after buying an additional 4,509,177 shares during the period. Primecap Management Co. CA raised its stake in New Fortress Energy by 43.7% in the third quarter. Primecap Management Co. CA now owns 11,532,105 shares of the company’s stock worth $104,827,000 after buying an additional 3,505,975 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings 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 worth $171,147,000 after buying an additional 2,728,191 shares during the period. 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.