New Fortress Energy (NFE) Given New $19.00 Price Target at JMP Securities

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New Fortress Energy (NASDAQ:NFE) had its price target dropped by stock analysts at JMP Securities from $20.00 to $19.00 in a research report issued to clients and investors on Thursday, BenzingaRatingsTable reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ price target would suggest a potential upside of 63.09% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Barclays set a $11.00 target price on shares of New Fortress Energy and gave the stock a “hold” rating in a research report on Thursday, March 28th. Evercore ISI began coverage on shares of New Fortress Energy in a research report on Monday, February 25th. They set an “outperform” rating and a $23.00 target price on the stock. Credit Suisse Group began coverage on shares of New Fortress Energy in a report on Monday, February 25th. They issued a “neutral” rating and a $17.00 price target on the stock. Citigroup began coverage on shares of New Fortress Energy in a report on Monday, February 25th. They issued a “buy” rating on the stock. Finally, Stifel Nicolaus began coverage on shares of New Fortress Energy in a report on Monday, February 25th. They issued a “buy” rating and a $27.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $19.43.

NFE opened at $11.65 on Thursday. New Fortress Energy has a 52-week low of $8.90 and a 52-week high of $16.11.

New Fortress Energy (NASDAQ:NFE) last released its quarterly earnings data on Wednesday, May 15th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.73). On average, research analysts expect that New Fortress Energy will post -0.43 earnings per share for the current fiscal year.

In related news, Director Randal A. Nardone purchased 580,000 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were purchased at an average cost of $9.85 per share, with a total value of $5,713,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Wesley R. Edens bought 592,100 shares of the stock in a transaction on Thursday, March 28th. The shares were acquired at an average price of $9.84 per share, with a total value of $5,826,264.00. The disclosure for this purchase can be found here. Insiders purchased 1,176,600 shares of company stock worth $11,590,069 over the last ninety days.

A number of hedge funds have recently added to or reduced their stakes in NFE. Morgan Stanley bought a new stake in New Fortress Energy during the first quarter valued at $29,000. SEI Investments Co bought a new stake in New Fortress Energy during the first quarter valued at $55,000. HighTower Advisors LLC bought a new stake in New Fortress Energy during the first quarter valued at $117,000. Tortoise Index Solutions LLC bought a new stake in New Fortress Energy during the first quarter valued at $257,000. Finally, Dean Capital Investments Management LLC bought a new stake in New Fortress Energy during the first quarter valued at $536,000. Hedge funds and other institutional investors own 1.01% of the company’s stock.

New Fortress Energy Company Profile

New Fortress Energy LLC operates as an integrated gas-to-power company. The company's activities include natural gas procurement and liquefaction; provision of logistics and shipping services; development and operation of terminals; and conversion or development of natural gas-fired generation. It intends to serve power, transportation, and industrial users of natural gas and LNG.

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Analyst Recommendations for New Fortress Energy (NASDAQ:NFE)

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