Stifel Nicolaus Analyst Maintains Buy Rating on New Fortress Energy with $49.00 Price Target
August 15, 2023
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New Fortress Energy ($NASDAQ:NFE) (NFE) is a leading energy infrastructure company that is transforming the supply and delivery of energy on a global scale. The stock closed at $27.88 on Wednesday, and Benjamin Nolan, an analyst from Stifel Nicolaus, has just recommended a Buy rating on New Fortress Energy with a price target of $49.00. Nolan believes that the company is well positioned for future growth and that their rich portfolio of assets and projects will be beneficial in driving long-term returns for investors. He also noted that the company has been making significant investments in renewable energy sources, such as natural gas, and that these investments could prove to be very profitable in the future.
NFE has made a number of strategic acquisitions in recent years, including the purchase of GE Power, which has helped them to expand their portfolio of products and services. They have also taken steps to increase their presence in emerging markets such as India and Africa, which could further strengthen their competitive position. With the stock currently trading at $27.88, this presents an attractive upside opportunity for investors.
Share Price
The stock opened at $27.9 and closed at $28.1, up by 0.6% from the prior closing price of 27.9. This indicates that the stock is trending up and that investors have a positive outlook for the company. New Fortress Energy has been making steady progress in its operations and is continuing to expand its presence in different markets across the globe. With a strong financial position and strong fundamentals, the energy company is well-positioned to continue to grow and deliver value to shareholders.
Moreover, New Fortress Energy is well-positioned to benefit from the increasing demand for natural gas and renewable energy sources. As such, Stifel Nicolaus analyst Michael Kay believes the stock is undervalued and can reach the $49.00 price target in the near future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for NFE. More…
| Total Revenues | Net Income | Net Margin |
| 2.42k | 395.43 | 17.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for NFE. More…
| Operations | Investing | Financing |
| 688.05 | -1.01k | 317.89 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for NFE. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 9.14k | 7.58k | 6.86 |
Key Ratios Snapshot
Some of the financial key ratios for NFE are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 103.1% | – | 30.0% |
| FCF Margin | ROE | ROA |
| -62.4% | 33.5% | 5.0% |
Analysis
At GoodWhale, we provide comprehensive analysis of NEW FORTRESS ENERGY. Our Risk Rating tool indicates that this is a medium risk investment in terms of financial and business aspects. We have detected two risk warnings in the balance sheet and cashflow statement, so be sure to register with us to check it out. Our analysis covers a range of topics, such as liquidity, cash flow, debt levels, leverage ratios and more. We also provide our users with a detailed overview of the company, including its mission, vision, goals, performance, and any other fundamental information that can help inform your decision-making. With GoodWhale, you can be sure that you’re getting the most detailed, accurate analysis of NEW FORTRESS ENERGY’s fundamentals. More…
Peers
Its competitors are Osaka Gas Co Ltd, Atmos Energy Corp, and Bestsun Energy Co Ltd.
– Osaka Gas Co Ltd ($TSE:9532)
Osaka Gas Co Ltd is a Japanese company that provides natural gas and related services. The company has a market cap of 904.03B as of 2022 and a Return on Equity of 4.85%. The company is involved in the exploration, production, and distribution of natural gas. It also owns and operates a gas pipeline network. The company serves residential, commercial, and industrial customers in Japan.
– Atmos Energy Corp ($NYSE:ATO)
Atmos Energy Corporation is a publicly traded natural gas company headquartered in Dallas, Texas, and is the largest natural-gas-only distributor in the United States, serving over three million customers in eight states. The company supplies gas to residential, commercial and industrial customers through its utilities. Atmos Energy’s primary business is the regulated natural gas distribution business, which it conducts through its subsidiaries in eight states.
– Bestsun Energy Co Ltd ($SHSE:600681)
Bestsun Energy Co Ltd is a solar energy company with a market cap of 5.94B as of 2022. The company has a Return on Equity of 11.71%. The company specializes in the design, manufacture, and sale of solar photovoltaic products.
Summary
New Fortress Energy (NFE) is an attractive investment opportunity according to Stifel Nicolaus analyst Benjamin Nolan. Nolan has maintained a Buy rating on the stock with a price target of $49.00, which is nearly double its current market value of $27.88. This suggests significant upside potential for those looking to take a position in NFE. The company is focused on clean, renewable energy and is aiming to support the global transition away from fossil fuels.
Its unique business model includes investments in energy infrastructure, natural gas liquefaction, and logistics capabilities, positioning it as a potential leader in the sector. Investors looking for exposure to the fast-growing clean energy space should consider NFE.
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