Stifel Nicolaus analyst Benjamin Nolan maintained a Buy rating on New Fortress Energy (NFE – Research Report) on January 1 and set a price target of $49.00. The company’s shares closed yesterday at $37.21.
According to TipRanks, Nolan is a top 100 analyst with an average return of 19.1% and a 66.86% success rate. Nolan covers the Industrials sector, focusing on stocks such as Chart Industries, Eagle Bulk Shipping, and Capital Product.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for New Fortress Energy with a $43.60 average price target, a 17.17% upside from current levels. In a report released on January 1, BTIG also maintained a Buy rating on the stock with a $48.00 price target.
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Based on New Fortress Energy’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $514.46 million and a net profit of $61.22 million. In comparison, last year the company earned a revenue of $731.93 million and had a net profit of $61.85 million
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New Fortress Energy (NFE) Company Description:
New Fortress Energy LLC engages in the provision of energy infrastructure and development services. It specializes in the fields of power, infrastructure, transportation and liquefied natural gas (LNG). Its LNG production and delivery model includes liquefaction, logistics, shipping and terminals. The company was founded by Wesley Robert Edens in 2014 and is headquartered in New York, NY.
Read More on NFE:
- New Fortress Energy adds 1.6GW capacity reserve contract
- New Fortress Energy initiated with an Equalweight at Capital One
- New Fortress Energy price target raised to $46 from $40 at Stifel
- New Fortress Energy reports Q3 adjusted EPS 30c, consensus 43c
- New Fortress Energy charters Petrobras’ FSRU Energos Winter starting December 20
