Deutsche Bank Aktiengesellschaft Trims New Fortress Energy (NASDAQ:NFE) Target Price to $26.00

New Fortress Energy (NASDAQ:NFE) had its price objective lowered by research analysts at Deutsche Bank Aktiengesellschaft from $33.00 to $26.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price indicates a potential upside of 14.49% from the stock’s previous close.

Several other equities research analysts have also commented on the company. 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, May 9th. Barclays reduced their price objective on New Fortress Energy from $32.00 to $27.00 and set an “equal weight” rating for the company in a research note on Monday, May 6th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.00.

New Fortress Energy Stock Down 11.4 %

NASDAQ NFE traded down $2.93 during mid-day trading on Tuesday, reaching $22.71. The stock had a trading volume of 1,992,589 shares, compared to its average volume of 1,702,896. New Fortress Energy has a 1 year low of $19.02 and a 1 year high of $40.04. The stock has a market cap of $4.66 billion, a PE ratio of 10.32 and a beta of 1.49. The company has a fifty day moving average price of $23.07 and a 200 day moving average price of $28.25. The company has a debt-to-equity ratio of 3.74, a current ratio of 0.66 and a quick ratio of 0.54.

New Fortress Energy (NASDAQ:NFE) last announced its earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. The business had revenue of $690.30 million during the quarter, compared to analyst estimates of $602.41 million. New Fortress Energy had a net margin of 17.90% and a return on equity of 31.34%. The company’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.90 EPS. On average, research analysts expect that New Fortress Energy will post 1.99 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NFE. Primecap Management Co. CA grew its position in shares of New Fortress Energy by 553.0% during the fourth quarter. Primecap Management Co. CA now owns 3,438,300 shares of the company’s stock valued at $129,727,000 after purchasing an additional 2,911,800 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of New Fortress Energy by 41.4% in the 3rd quarter. Vanguard Group Inc. now owns 8,481,836 shares of the company’s stock valued at $278,035,000 after acquiring an additional 2,482,627 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in shares of New Fortress Energy by 31.0% in 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 acquiring an additional 2,111,360 shares during the last quarter. M&G Plc bought a new position in shares of New Fortress Energy in the 1st quarter valued at about $51,569,000. Finally, Capital World Investors lifted its stake in 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 purchasing an additional 1,152,125 shares during the last quarter. Hedge funds and other institutional investors own 58.61% of the company’s stock.

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.