Brokerages Set New Fortress Energy Inc. (NASDAQ:NFE) Price Target at $13.83

New Fortress Energy Inc. (NASDAQ:NFE) has been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $13.83.

Several equities research analysts have recently issued reports on NFE shares. Stifel Nicolaus lowered their price objective on shares of New Fortress Energy from $23.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft set a $8.00 price objective on shares of New Fortress Energy in a report on Wednesday, March 12th. Morgan Stanley cut their price objective on shares of New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 4th. Finally, Citigroup lowered their price target on New Fortress Energy from $34.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th.

Insider Buying and Selling

In other news, CFO Christopher S. Guinta bought 5,000 shares of New Fortress Energy stock in a transaction dated Thursday, March 13th. The shares were bought at an average price of $8.57 per share, for a total transaction of $42,850.00. Following the purchase, the chief financial officer now owns 206,653 shares of the company’s stock, valued at approximately $1,771,016.21. This trade represents a 2.48 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 37.10% of the company’s stock.

Hedge Funds Weigh In On New Fortress Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NFE. JPMorgan Chase & Co. raised its stake in shares of New Fortress Energy by 2.0% in the fourth quarter. JPMorgan Chase & Co. now owns 48,250 shares of the company’s stock valued at $730,000 after acquiring an additional 935 shares during the last quarter. US Bancorp DE raised its position in New Fortress Energy by 31.5% in the 4th quarter. US Bancorp DE now owns 4,696 shares of the company’s stock valued at $71,000 after purchasing an additional 1,126 shares during the last quarter. Allworth Financial LP boosted its stake in New Fortress Energy by 2,156.0% in the fourth quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock worth $32,000 after purchasing an additional 1,962 shares in the last quarter. GAMMA Investing LLC boosted its stake in New Fortress Energy by 148.5% in the fourth quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock worth $60,000 after purchasing an additional 2,370 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of New Fortress Energy by 3.0% during the fourth quarter. Deutsche Bank AG now owns 85,206 shares of the company’s stock worth $1,288,000 after purchasing an additional 2,463 shares during the last quarter. 58.61% of the stock is currently owned by institutional investors and hedge funds.

New Fortress Energy Price Performance

NASDAQ NFE opened at $4.98 on Wednesday. The company has a market cap of $1.36 billion, a P/E ratio of 5.47 and a beta of 1.52. New Fortress Energy has a 1 year low of $4.80 and a 1 year high of $29.11. The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06. The company has a fifty day simple moving average of $9.44 and a 200 day simple moving average of $10.94.

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

About New Fortress Energy

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.