New Fortress Energy (NASDAQ:NFE) Price Target Lowered to $33.00 at Deutsche Bank Aktiengesellschaft

New Fortress Energy (NASDAQ:NFE) had its price objective cut by stock analysts at Deutsche Bank Aktiengesellschaft from $35.00 to $33.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential upside of 20.48% from the stock’s current price.

NFE has been the topic of a number of other research reports. Barclays cut their target price on New Fortress Energy from $32.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Monday. Stifel Nicolaus reduced their price objective on New Fortress Energy from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, New Fortress Energy presently has a consensus rating of “Hold” and a consensus target price of $38.00.

New Fortress Energy Stock Up 3.4 %

Shares of NFE stock traded up $0.90 during trading hours on Thursday, reaching $27.39. The company had a trading volume of 942,441 shares, compared to its average volume of 1,349,493. The business has a fifty day simple moving average of $29.61 and a 200-day simple moving average of $32.81. New Fortress Energy has a 12 month low of $25.06 and a 12 month high of $40.04. The company has a market cap of $5.62 billion, a price-to-earnings ratio of 10.34 and a beta of 1.56. The company has a debt-to-equity ratio of 3.66, a current ratio of 0.57 and a quick ratio of 0.51.

New Fortress Energy (NASDAQ:NFE) last announced its earnings results on Wednesday, May 8th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.60 by $0.07. New Fortress Energy had a net margin of 22.70% and a return on equity of 36.16%. The company had revenue of $690.30 million during the quarter, compared to the consensus estimate of $602.41 million. During the same quarter in the prior year, the company posted $0.90 earnings per share. The firm’s revenue for the quarter was up 19.2% on a year-over-year basis. On average, research analysts expect that New Fortress Energy will post 2.97 earnings per share for the current fiscal year.

Institutional Trading of New Fortress Energy

A number of institutional investors have recently modified their holdings of NFE. Capital World Investors lifted its holdings in shares of New Fortress Energy by 8.3% in the fourth quarter. Capital World Investors now owns 14,964,622 shares of the company’s stock worth $564,615,000 after buying an additional 1,152,125 shares in the last quarter. William Blair Investment Management LLC grew its position in shares of New Fortress Energy by 31.0% during the 1st quarter. William Blair Investment Management LLC now owns 8,916,242 shares of the company’s stock valued at $272,748,000 after purchasing an additional 2,111,360 shares in the last quarter. Vanguard Group Inc. raised its position in shares of New Fortress Energy by 41.4% in the third quarter. Vanguard Group Inc. now owns 8,481,836 shares of the company’s stock worth $278,035,000 after buying an additional 2,482,627 shares in the last quarter. Federated Hermes Inc. boosted its stake 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 valued at $144,288,000 after buying an additional 427,300 shares during the period. Finally, Primecap Management Co. CA grew its position 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 worth $129,727,000 after acquiring an additional 2,911,800 shares during the last quarter. 58.61% of the stock is currently owned by hedge funds and other institutional investors.

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.