Fintel reports that on September 14, 2023, Citigroup maintained coverage of New Fortress Energy Inc - (NASDAQ:NFE) with a Buy recommendation.
Analyst Price Forecast Suggests 43.91% Upside
As of August 31, 2023, the average one-year price target for New Fortress Energy Inc - is 46.35. The forecasts range from a low of 32.32 to a high of $64.05. The average price target represents an increase of 43.91% from its latest reported closing price of 32.21.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for New Fortress Energy Inc - is 3,973MM, an increase of 64.26%. The projected annual non-GAAP EPS is 5.43.
New Fortress Energy Inc - Declares $0.10 Dividend
On August 7, 2023 the company declared a regular quarterly dividend of $0.10 per share ($0.40 annualized). Shareholders of record as of September 13, 2023 will receive the payment on September 27, 2023. Previously, the company paid $0.10 per share.
At the current share price of $32.21 / share, the stock's dividend yield is 1.24%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.19%, the lowest has been 0.67%, and the highest has been 14.82%. The standard deviation of yields is 3.84 (n=193).
The current dividend yield is 0.51 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 1.76. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 7.50%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 504 funds or institutions reporting positions in New Fortress Energy Inc -. This is an increase of 2 owner(s) or 0.40% in the last quarter. Average portfolio weight of all funds dedicated to NFE is 0.59%, a decrease of 11.54%. Total shares owned by institutions increased in the last three months by 6.07% to 130,154K shares. 
The put/call ratio of NFE is 1.00, indicating a bullish outlook.
What are Other Shareholders Doing?
Great Mountain Partners holds 25,560K shares representing 12.47% ownership of the company. No change in the last quarter.
Fortress Investment Group holds 13,399K shares representing 6.54% ownership of the company. No change in the last quarter.
Capital World Investors holds 10,783K shares representing 5.26% ownership of the company. In it's prior filing, the firm reported owning 10,787K shares, representing a decrease of 0.04%. The firm decreased its portfolio allocation in NFE by 15.36% over the last quarter.
William Blair Investment Management holds 5,601K shares representing 2.73% ownership of the company. In it's prior filing, the firm reported owning 3,372K shares, representing an increase of 39.81%. The firm increased its portfolio allocation in NFE by 39.12% over the last quarter.
SMCWX - SMALLCAP WORLD FUND INC holds 4,116K shares representing 2.01% ownership of the company. No change in the last quarter.
New Fortress Energy Background Information
(This description is provided by the company.)
New Fortress Energy Inc. is a global energy infrastructure company founded to help accelerate the world's transition to clean energy. The company funds, builds and operates natural gas infrastructure and logistics to rapidly deliver fully integrated, turnkey energy solutions that enable economic growth, enhance environmental stewardship and transform local industries and communities.
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