New Fortress Energy Inc. (NASDAQ:NFE – Get Free Report) announced a quarterly dividend on Thursday, August 8th, Zacks reports. Investors of record on Friday, September 13th will be given a dividend of 0.10 per share on Friday, September 27th. This represents a $0.40 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Friday, September 13th.
New Fortress Energy has raised its dividend by an average of 157.1% per year over the last three years. New Fortress Energy has a payout ratio of 16.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect New Fortress Energy to earn $2.67 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 15.0%.
New Fortress Energy Stock Performance
NFE stock traded down $4.02 during trading on Friday, hitting $13.00. The company had a trading volume of 20,064,432 shares, compared to its average volume of 1,947,755. New Fortress Energy has a 1-year low of $12.63 and a 1-year high of $40.04. The firm has a 50-day moving average price of $21.17 and a 200-day moving average price of $26.85. The company has a quick ratio of 0.54, a current ratio of 0.66 and a debt-to-equity ratio of 3.74. The firm has a market cap of $2.67 billion, a PE ratio of 5.91 and a beta of 1.49.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of New Fortress Energy from $33.00 to $26.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Stifel Nicolaus dropped their price objective on shares of 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. Finally, Barclays reduced their target price on New Fortress Energy from $27.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $35.20.
Check Out Our Latest Research Report on NFE
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.
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