New Fortress Energy Inc. (NASDAQ: NFE) stock jumped 1.65% on Tuesday to $36.93 against a previous-day closing price of $36.33. With 1.46 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.65 million shares. During the session, the Utilities – Regulated Gas company that operates in wider Utilities sector, reached to the highest price of $37.06 whereas the lowest price it dropped to was $35.87. The 52-week range on NFE shows that it touched its highest point at $63.06 and its lowest point at $19.17 during that stretch. It currently has a 1-year price target of $69.44. With its current market cap of 7.34 billion, NFE has annualized dividend of $6.00 while the current yield stands at 16.25%. Beta for the stock currently stands at 1.64.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NFE was down-trending over the past week, with a drop of -0.70%, but this was down by -15.72% over a month. Three-month performance dropped to -27.20% while six-month performance fell -18.08%. The stock gained 80.15% in the past year, while it has lost -12.94% so far this year. A look at the trailing 12-month EPS for NFE yields 1.30 with Next year EPS estimates of 5.72. For the next quarter, that number is 0.76. This implies an EPS growth rate of 128.20% for this year and 215.77% for next year.
Float and Shares Shorts:
At present, 209.63 million NFE shares are outstanding with a float of 97.43 million shares on hand for trading. On Oct 13, 2022, short shares totaled 5.48 million, which was 2.64% higher than short shares on Sep 14, 2022. In addition to Mr. Wesley Robert Edens as the firm’s Founder, Chairman & CEO, Mr. Christopher S. Guinta serves as its Chief Financial Officer.
Through their ownership of 48.98% of NFE’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 81.55% of NFE, in contrast to 20.03% held by mutual funds. Shares owned by individuals account for 15.71%. As the largest shareholder in NFE with 12.24% of the stake, Great Mountain Partners LLC holds 25,559,846 shares worth 25,559,846. A second-largest stockholder of NFE, Capital Research & Management Co, holds 11,348,833 shares, controlling over 5.44% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in NFE, holding 4,642,163 shares or 2.22% stake. With a 1.97% stake in NFE, the American Funds Small Cap World Fu is the largest stakeholder. A total of 4,116,300 shares are owned by the mutual fund manager. The American Funds Growth Fund of Ame, which owns about 1.64% of NFE stock, is the second-largest Mutual Fund holder. It holds 3,417,776 shares valued at 144.98 million. American Funds New World Fund holds 1.43% of the stake in NFE, owning 2,994,095 shares worth 127.01 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NFE since 8 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 3 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With NFE analysts setting a high price target of $95.00 and a low target of $53.00, the average target price over the next 12 months is $71.29. Based on these targets, NFE could surge 157.24% to reach the target high and rise by 43.51% to reach the target low. Reaching the average price target will result in a growth of 93.04% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. NFE will report FY 2022 earnings on 02/27/2024. Analysts have provided yearly estimates in a range of $2.65 being high and $1.04 being low. For NFE, this leads to a yearly average estimate of $1.83. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. New Fortress Energy Inc. surprised analysts by -$0.47 when it reported $0.29 EPS against a consensus estimate of $0.76. The surprise factor in the prior quarter was -$1.34. Based on analyst estimates, the high estimate for the next quarter is $1.11 and the low estimate is $0.83. The average estimate for the next quarter is thus $0.93.
Dividends & Yield:
In terms of dividends, NFE has a current ratio of $3.4, which is $3.4 over the trailing 12-months. Dividend yield is another indicator that appeals to many investors, and NFE currently yields $9.21. In the past year, NFE’s dividend yield has been $9.21. Accordingly, NFE has a current buyback yield of $0.0. This was $0.0 for the TTM.
Summary of Insider Activity:
Insiders traded NFE stock several times over the past three months with 5 Buys and 1 Sells. In these transactions, 143,486 shares were bought while 6,900,000 shares were sold. The number of buy transactions has increased to 11 while that of sell transactions has risen to 16 over the past year. The total number of shares bought during that period was 352,785 while 8,095,517 shares were sold.