New Fortress Energy Inc. operates as an integrated gas-to-power infrastructure company, provides energy and development services to end-users worldwide. The company engages in the natural gas procurement and liquefaction; and shipping, logistics, facilities and conversion, or development of natural gas-fired power generation. It also supplies LNG. The company operates LNG storage and regasification facility at the Port of Montego Bay, Jamaica; marine LNG storage and regasification facility in Old Harbour, Jamaica; and landed micro-fuel handling facility in San Juan, Puerto Rico, as well as Miami facility. New Fortress Energy Inc. was founded in 1998 and is based in New York, New York.
IPO Year: 2019
Exchange: NASDAQ
Website: newfortressenergy.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 12/4/2024 | $11.00 | Sell → Hold | Deutsche Bank |
| 10/3/2024 | $35.00 → $15.00 | Overweight → Equal-Weight | Morgan Stanley |
| 10/1/2024 | $21.00 → $7.60 | Hold → Sell | Deutsche Bank |
| 3/4/2024 | $40.00 → $35.00 | Buy → Hold | Deutsche Bank |
| 12/19/2023 | Equal Weight | CapitalOne | |
| 6/8/2023 | $59.00 → $31.00 | Buy → Neutral | BofA Securities |
| 4/10/2023 | $60.00 | Buy | Deutsche Bank |
| 2/1/2023 | $67.00 | Buy | BofA Securities |
| 1/31/2023 | $50.00 | Neutral → Buy | BTIG Research |
| 10/19/2022 | $65.00 | Buy | Jefferies |
Excelerate Energy, Inc. (NYSE:EE) ("Excelerate" or the "Company") today announced that Excelerate Energy Limited Partnership (the "Issuer"), a subsidiary of Excelerate, has priced its offering (the "Offering") of $800 million in aggregate principal amount of 8.000% unsecured senior notes due 2030 (the "2030 Notes"). The 2030 Notes will mature on May 15, 2030 and will be issued at par. The Offering is expected to close on May 5, 2025, subject to customary closing conditions. The Offering was upsized to $800 million in aggregate principal amount of 2030 Notes from the original offering size of $700 million in aggregate principal amount of 2030 Notes. Excelerate intends to use the net proceeds
Excelerate Energy, Inc. (NYSE:EE) ("Excelerate" or the "Company") today announced that Excelerate Energy Limited Partnership (the "Issuer"), a subsidiary of Excelerate, has commenced an offering (the "Offering") of $700 million in aggregate principal amount of unsecured senior notes due 2030 (the "2030 Notes"). Excelerate intends to use the net proceeds from the Offering, together with the net proceeds from the equity offering previously consummated by the Company and cash on hand, to (i) fund the consideration payable by the Company in the previously-announced pending acquisition of New Fortress Energy, Inc.'s (NASDAQ:NFE) business in Jamaica for $1.055 billion, subject to certain adjustme
Excelerate Energy, Inc. (NYSE:EE) ("Excelerate" or the "Company") today announced the pricing of its previously announced underwritten registered public offering of 6,956,522 shares of Class A common stock at a public offering price per share of $26.50. The size of the offering increased from the previously announced $150,000,000 of shares of common stock to $184,347,833 of shares of the company's common stock, which represents the gross proceeds of the offering before the underwriting discount and estimated offering expenses. Additionally, the Company has granted the underwriters a 30-day option to purchase up to an additional 1,043,478 shares of its Class A common stock at the public offe
Excelerate Energy, Inc. (NYSE:EE) ("Excelerate" or the "Company") announced that it has commenced an underwritten public offering of $150 million of shares of its Class A common stock. In connection with this offering, the Company expects to grant the underwriters a 30-day option to purchase up to $22.5 million of additional shares of Class A common stock at the public offering price, less the underwriting discounts and commissions. The offering is subject to market and other conditions, and there can be no assurances as to whether or when the offering may be completed, or as to the actual size or terms of the offering. The Company intends to use the net proceeds from this offering, togeth
Addition of Complementary, Fully Integrated Downstream LNG and Power Platform Establishes Excelerate as the Key Provider of "Last-Mile" LNG Infrastructure in a Desirable Atlantic Basin Natural Gas Market Assets and Operations Generate Stable Cash Flows Supported by Attractive Long-Term Contracts with High-Quality Counterparties and Pipeline of Potential Growth Opportunities Acquisition Is Immediately Accretive to Earnings per Share and Enhances Operating Cash Flow Excelerate Energy, Inc. (NYSE:EE) ("Excelerate" or the "Company") today announced that it has entered into a definitive agreement with New Fortress Energy Inc. ("NFE") (NASDAQ:NFE) under which Excelerate will acquire NFE's busi
New Fortress Energy Inc. (NASDAQ:NFE) ("NFE") announced today that it has finalized a transaction with Excelerate Energy, Inc. (NYSE:EE) ("Excelerate") to sell its assets and operations in Jamaica for $1.055 billion. Proceeds from the transaction will be used to reduce NFE's corporate debt and for general corporate purposes. This transaction is expected to close in the second quarter of 2025 and marks a key step in NFE's strategy to optimize its asset portfolio and enhance financial flexibility. The transaction includes the sale of NFE's LNG import terminal in Montego Bay, offshore floating storage and regasification terminal in Old Harbour, and 150 MW Combined Heat and Power Plant in Clar
New Fortress Energy Inc. (NASDAQ:NFE) ("NFE") announced that it has amended the extension of its 80 TBtu islandwide gas supply contract with the Puerto Rico Electric Power Authority ("PREPA") to a term of 100 days. Previously, we announced that the islandwide gas supply contract was to be extended for one year. The revised 100-day extension provides a bridge period to facilitate an open request for proposals ("RFP") for updated terms and duration of the gas supply contract. "The 100-day extension allows an adequate period for an RFP for a new gas contract with appropriate duration and terms to best serve Puerto Rico's energy security needs at the lowest possible cost," said Wes Edens, Cha
New Fortress Energy Inc. (NASDAQ:NFE) ("NFE" or the "Company") today reported its financial results for the fourth quarter and for the year ended December 31, 2024. Summary Highlights Adjusted EBITDA(1) of $313 million in the fourth quarter of 2024 and $950 million in the full year 2024 Net loss of $224 million in the fourth quarter of 2024 and $242 million in the full year 2024, driven primarily by costs incurred with refinancing our debt including a Q4 loss on extinguishment of debt of $260 million. Adjusted Net Income(3) of $29 million in the fourth quarter of 2024 and $101 million for the full year 2024 Adjusted EPS(2) of $0.13 on a fully diluted basis in the fourth quarte
New Fortress Energy Inc. (NASDAQ:NFE) ("NFE") today announced a one-year extension of its 80 TBtu islandwide gas supply contract with the Puerto Rico Electric Power Authority ("PREPA"). Additionally, the 10-year Operation and Maintenance Agreement between Genera, NFE's subsidiary, and PREPA will be modified to eliminate future incentive payments in exchange for a $110 million payment. NFE worked closely with Puerto Rico Governor Jenniffer Gonzalez-Colon, the Puerto Rico Energy Bureau ("PREB"), the Puerto Rico Public-Private Partnerships Authority ("P3A"), and PREPA to streamline the incentive structure and fully aligns NFE and Puerto Rico with a single goal: to deliver reliable, clean power
New Fortress Energy Inc. (NASDAQ:NFE) (the "Company") plans to announce its financial results for the fourth quarter 2024 after 4:00 P.M. Eastern Time on Monday, March 3rd, 2025. A copy of the press release and an earnings supplement will be posted to the Investors section of the Company's website, www.newfortressenergy.com. In addition, management will host a conference call on Monday, March 3rd, 2025 at 5:00 P.M. Eastern Time. The conference call may be accessed by dialing (888) 394-8218 (toll-free from within the U.S.) or +1 (323) 994-2093 (from outside of the U.S.) fifteen minutes prior to the scheduled start of the call; please reference "NFE Fourth-Quarter 2024 Earnings Call" or con
AUSTIN, Texas, Nov. 21, 2024 /PRNewswire/ -- Pennybacker Capital Management, LLC (Pennybacker), a leading real assets investment manager, today announced it has completed the acquisition of the small-scale Florida-based liquefied natural gas production and distribution business (Miami LNG business) from New Fortress Energy Inc. (NASDAQ:NFE). The Miami LNG business is a strategically located small-scale liquefaction operation, equipped with one liquefaction train that produces up to approximately 8,300 MMBtu per day of LNG, optimized for truck and rail logistics to enable efficient and flexible distribution for its customers. The Miami LNG business serves the hospitality, industrial, transpo
January 13, 2021 – Golar LNG Partners LP (Nasdaq: GMLP) (“GMLP”) today announced that it has entered into an agreement and plan of merger with New Fortress Energy Inc. (Nasdaq: NFE) (“NFE”). Under the merger agreement, NFE has agreed to acquire all of the outstanding common units and general partner units of GMLP for $3.55 per unit in cash for a total purchase price of $251 million equity value. In connection with the transaction, GMLP’s incentive distribution rights will be cancelled. The Series A preferred units of GMLP will remain outstanding. The consideration to be received by GMLP common unitholders represents a 27% premium to the closing price of GMLP’s common units of $2.79/unit o
January 13, 2021 – Golar LNG Limited (Nasdaq: GLNG) (“GLNG”) today announced that it and Stonepeak Infrastructure Fund II Cayman (G) Ltd., a fund managed by Stonepeak Infrastructure Partners (“Stonepeak”) have entered into a definitive agreement and plan of merger to sell 100% of Hygo Energy Transition Ltd. (“Hygo”) to New Fortress Energy Inc. (Nasdaq: NFE) (“NFE”). Hygo, a gas to power and downstream LNG distribution company, is owned 50% by each of GLNG and by funds and other entities managed by Stonepeak. Under the terms of the merger agreement, NFE will acquire all of the outstanding shares of Hygo for 31.4 million shares of NFE Class A common stock and $580 million in cash. The transa
NEW YORK--(BUSINESS WIRE)--New Fortress Energy Inc. (Nasdaq: NFE) (“NFE”) today announced that it has signed a Memorandum of Understanding (“MOU”) with Petrobras Distribuidora S.A. (“BR”) and CCETC Brasil Holding Ltda. (“CCETC”) to acquire 288MW of 15-year power purchase agreements (“PPAs”) and intends to develop an LNG terminal and gas-fired power plant at the Suape Port in Brazil. “The Suape Port provides an ideal location for NFE to bring clean and affordable energy to a rapidly growing region of Brazil,” said Wes Edens, Chairman and CEO of New Fortress Energy. “Our LNG terminal and gas-fired power plant will advance the clean energy transition in the state of Pernambuco and t
NEW YORK--(BUSINESS WIRE)--New Fortress Energy Inc. (Nasdaq: NFE) (“NFE”) today announced that it has entered into definitive agreements to acquire Hygo Energy Transition Ltd. (“Hygo”), a 50-50 joint venture between Golar LNG Limited (Nasdaq: GLNG) (“GLNG”) and Stonepeak Infrastructure Fund II Cayman (G) Ltd., a fund managed by Stonepeak Infrastructure Partners (“Stonepeak”), and Golar LNG Partners, LP (Nasdaq: GMLP) (“GMLP”). “With a strong presence in Brazil and a world-class LNG shipping business, Hygo and GMLP are excellent additions to our efforts to accelerate the world’s energy transition,” said Wes Edens, Chairman and CEO of NFE. “The addition of Hygo will quickly expand
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Deutsche Bank upgraded New Fortress Energy from Sell to Hold and set a new price target of $11.00
Morgan Stanley downgraded New Fortress Energy from Overweight to Equal-Weight and set a new price target of $15.00 from $35.00 previously
Deutsche Bank downgraded New Fortress Energy from Hold to Sell and set a new price target of $7.60 from $21.00 previously
Deutsche Bank downgraded New Fortress Energy from Buy to Hold and set a new price target of $35.00 from $40.00 previously
CapitalOne initiated coverage of New Fortress Energy with a rating of Equal Weight
BofA Securities downgraded New Fortress Energy from Buy to Neutral and set a new price target of $31.00 from $59.00 previously
Deutsche Bank initiated coverage of New Fortress Energy with a rating of Buy and set a new price target of $60.00
BofA Securities initiated coverage of New Fortress Energy with a rating of Buy and set a new price target of $67.00
BTIG Research upgraded New Fortress Energy from Neutral to Buy and set a new price target of $50.00
Jefferies initiated coverage of New Fortress Energy with a rating of Buy and set a new price target of $65.00
Addition of Complementary, Fully Integrated Downstream LNG and Power Platform Establishes Excelerate as the Key Provider of "Last-Mile" LNG Infrastructure in a Desirable Atlantic Basin Natural Gas Market Assets and Operations Generate Stable Cash Flows Supported by Attractive Long-Term Contracts with High-Quality Counterparties and Pipeline of Potential Growth Opportunities Acquisition Is Immediately Accretive to Earnings per Share and Enhances Operating Cash Flow Excelerate Energy, Inc. (NYSE:EE) ("Excelerate" or the "Company") today announced that it has entered into a definitive agreement with New Fortress Energy Inc. ("NFE") (NASDAQ:NFE) under which Excelerate will acquire NFE's busi
New Fortress Energy Inc. (NASDAQ:NFE) ("NFE") announced today that it has finalized a transaction with Excelerate Energy, Inc. (NYSE:EE) ("Excelerate") to sell its assets and operations in Jamaica for $1.055 billion. Proceeds from the transaction will be used to reduce NFE's corporate debt and for general corporate purposes. This transaction is expected to close in the second quarter of 2025 and marks a key step in NFE's strategy to optimize its asset portfolio and enhance financial flexibility. The transaction includes the sale of NFE's LNG import terminal in Montego Bay, offshore floating storage and regasification terminal in Old Harbour, and 150 MW Combined Heat and Power Plant in Clar
New Fortress Energy Inc. (NASDAQ:NFE) ("NFE" or the "Company") today reported its financial results for the fourth quarter and for the year ended December 31, 2024. Summary Highlights Adjusted EBITDA(1) of $313 million in the fourth quarter of 2024 and $950 million in the full year 2024 Net loss of $224 million in the fourth quarter of 2024 and $242 million in the full year 2024, driven primarily by costs incurred with refinancing our debt including a Q4 loss on extinguishment of debt of $260 million. Adjusted Net Income(3) of $29 million in the fourth quarter of 2024 and $101 million for the full year 2024 Adjusted EPS(2) of $0.13 on a fully diluted basis in the fourth quarte
New Fortress Energy Inc. (NASDAQ:NFE) (the "Company") plans to announce its financial results for the fourth quarter 2024 after 4:00 P.M. Eastern Time on Monday, March 3rd, 2025. A copy of the press release and an earnings supplement will be posted to the Investors section of the Company's website, www.newfortressenergy.com. In addition, management will host a conference call on Monday, March 3rd, 2025 at 5:00 P.M. Eastern Time. The conference call may be accessed by dialing (888) 394-8218 (toll-free from within the U.S.) or +1 (323) 994-2093 (from outside of the U.S.) fifteen minutes prior to the scheduled start of the call; please reference "NFE Fourth-Quarter 2024 Earnings Call" or con
New Fortress Energy Inc. (NASDAQ:NFE) ("NFE" or the "Company") today reported its financial results for the third quarter of 2024. Summary Highlights Adjusted EBITDA(1) of $176 million in the third quarter of 2024 Net income of $11 million in the third quarter of 2024 Adjusted EPS(2) of $0.05 on a fully diluted basis in the third quarter of 2024 EPS of $0.03 on a fully diluted basis in the third quarter of 2024 Illustrative Adjusted EBITDA Goal(4) of $855 million in the full year 2024 "This has been a strong and steady third quarter for the company as we achieved Adjusted EBITDA of $176 million, matching our guidance of $175 million. This was largely the result of steady volume
New Fortress Energy Inc. (NASDAQ:NFE) (the "Company") plans to announce its financial results for the third quarter 2024 prior to 8:00 A.M. Eastern Time on Thursday, November 7th, 2024. A copy of the press release and an earnings supplement will be posted to the Investors section of the Company's website, www.newfortressenergy.com. In addition, management will host a conference call on Thursday, November 7th, 2024 at 8:00 A.M. Eastern Time. The conference call may be accessed by dialing (888) 204-4368 (toll-free from within the U.S.) or +1-323-994-2093 (from outside of the U.S.) fifteen minutes prior to the scheduled start of the call; please reference "NFE Third-Quarter 2024 Earnings Call
New Fortress Energy Inc. (NASDAQ:NFE) ("NFE" or the "Company") today announced that the Company has determined to delay the payment of the Company's previously declared $0.10 per share Class A common stock dividend, with a record date of September 13, 2024 (the "Dividend"), until such time as the Company has reached an agreement with its noteholders to address the Company's near-term maturities and liquidity requirements. The Company expects to reach an agreement with its noteholders in the near future, after which the Company will reevaluate the payment of the Dividend, including with respect to its amount and the timing of any potential payment. About New Fortress Energy Inc. New Fortre
New Fortress Energy Inc. (NASDAQ:NFE) ("NFE" or the "Company") today reported its financial results for the second quarter of 2024. Summary Highlights Adjusted EBITDA(1) of $120 million in the second quarter of 2024 Second quarter results do not include $107 million of contracted LNG sales during the quarter, which will be included in Adjusted EBITDA and earnings in the second half of 2024 Net loss of $87 million in the second quarter of 2024 Adjusted EPS(2) of $(0.41) on a fully diluted basis in the second quarter of 2024 EPS of $(0.44) on a fully diluted basis in the second quarter of 2024 Funds from Operations per share(3) of $(0.23) on a fully diluted basis in the se
72% of Series A Preferred Shares that Have Returned their Proxies to Date Approve of the Preferred Stock Proposal SOMERSET, N.J., July 23, 2024 (GLOBE NEWSWIRE) -- CareCloud, Inc. (the "Company") (NASDAQ:CCLD, CCLDO, CCLDP))), a leader in healthcare technology solutions for medical practices and health systems nationwide, today announced that it continues to solicit proxies from the holders (the "Series A Preferred Shareholders") of its 11% Series A Cumulative Redeemable Perpetual Preferred Stock (the "Series A Preferred Stock") to approve an amendment to the Company's Certificate of Designations, Preferences and Rights of its Series A Preferred Stock (the "Preferred Stock Proposa
New Fortress Energy Inc. (NASDAQ:NFE) (the "Company") plans to announce its financial results for the second quarter 2024 prior to 8:00 A.M. Eastern Time on Friday, August 9th, 2024. A copy of the press release and an earnings supplement will be posted to the Investors section of the Company's website, www.newfortressenergy.com. In addition, management will host a conference call on Friday, August 9th, 2024 at 8:00 A.M. Eastern Time. The conference call may be accessed by dialing (888) 224-1005 (toll-free from within the U.S.) or +1-323-794-2575 (from outside of the U.S.) fifteen minutes prior to the scheduled start of the call; please reference "NFE Second-Quarter 2024 Earnings Call" or