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 |
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
New Fortress Energy Inc. (NASDAQ:NFE) ("NFE" or the "Company") today reported its financial results for the first quarter of 2024. Summary Highlights Adjusted EBITDA(1) of $340 million in the first quarter of 2024 Net income of $57 million in the first quarter of 2024 Adjusted EPS(2) of $0.67 on a fully diluted basis in the first quarter of 2024 EPS of $0.26 on a fully diluted basis in the first quarter of 2024 Funds from Operations per share(3) of $0.92 on a fully diluted basis in the first quarter of 2024 Illustrative Adjusted EBITDA Goal(4) of ~$2 billion in the full year 2024 "This has been a tremendous quarter for the company with a number of significant mileston
New Fortress Energy Inc. (NASDAQ:NFE) (the "Company") plans to announce its financial results for the first quarter 2024 prior to 8:00 A.M. Eastern Time on Wednesday, May 8th, 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 Wednesday, May 8th, 2024 at 8:00 A.M. Eastern Time. The conference call may be accessed by dialing (888) 256-1007 (toll-free from within the U.S.) or +1-323-701-0225 (from outside of the U.S.) fifteen minutes prior to the scheduled start of the call; please reference "NFE First Quarter 2024 Earnings Call" or co
New Fortress Energy Inc. (NASDAQ:NFE) (the "Company") announced today that management will host a conference call on Monday, March 25, 2024, at 11:00 am Eastern Time to discuss the Company's transformative transactions in Puerto Rico and Brazil. The conference call may be accessed by dialing (888) 224-1005 (toll-free from within the U.S.) or +1-323-701-0225 (from outside of the U.S.); please reference "NFE Company Update" or conference code 9397787. A simultaneous webcast of the conference call will be available to the public on a listen-only basis at www.newfortressenergy.com under the Investors section within "Events & Presentations." Please allow time prior to the call to visit the s
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, 2023. Summary Highlights Adjusted EBITDA(1) of $388 million in the fourth quarter of 2023 and $1.3 billion in the full year 2023 Net income of $215 million in the fourth quarter of 2023 and $549 million in the full year 2023 Adjusted EPS(2) of $1.01 on a fully diluted basis in the fourth quarter of 2023 and $2.75 in the full year 2023 EPS of $1.06 on a fully diluted basis in the fourth quarter of 2023 and $2.65 in the full year 2023 Funds from Operations per share(3) of $1.36 on a fully diluted basis in the fourth qua
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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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New Fortress Energy Inc. (NASDAQ:NFE) ("NFE" or the "Company") has executed a 10 year charter agreement for the Energos Eskimo, a 160,000 m3 floating storage and regasification unit, with the Egyptian Natural Gas Holding Company ("EGAS"). The Eskimo will be deployed to EGAS' LNG import terminal located at Ain Sokhna, Egypt and is expected to begin operations in the summer of 2025. About New Fortress Energy Inc. New Fortress Energy Inc. (NASDAQ:NFE) is a global energy infrastructure company founded to address energy poverty and accelerate the world's transition to reliable, affordable, and clean energy. The Company owns and operates natural gas and liquefied natural gas (LNG) infrastruct
New Fortress Energy Inc. (NASDAQ:NFE) ("NFE" or the "Company") is pleased to announce the completion of the private exchange of $1.5 billion new senior secured notes for more than two-thirds of each of the Company's outstanding senior secured notes maturing in 2026 and 2029. This transaction is the second and final step of the Company's $2.7 billion issuance of new senior secured notes due 2029. The $2.7 billion of new senior secured notes will trade as a single class. About New Fortress Energy Inc. New Fortress Energy Inc. (NASDAQ:NFE) is a global energy infrastructure company founded to address energy poverty and accelerate the world's transition to reliable, affordable, and clean ene
New Fortress Energy Inc. (NASDAQ:NFE) ("NFE" or the "Company") is pleased to announce the completion of the first step of the Company's $2.7 billion issuance of new senior secured notes due 2029 (the "Transaction"). The Transaction will be completed in two steps; the first step completed was the funding of $1.2 billion new senior secured notes. The second step will be an issuance and private exchange of $1.5 billion new senior secured notes expected to close during the first week of December for a total of $2.7 billion new notes issued that mature in November 2029. As a result of the Transaction, the Company will achieve three key objectives: Refinancing $2.4 billion of our existing
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
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
Golar LNG Partners LP, an indirect subsidiary of New Fortress Energy Inc. (NASDAQ:NFE), has declared a cash distribution of $0.546875 per unit of 8.75% Series A Cumulative Redeemable Preferred Units for the period from August 15, 2024 through November 14, 2024. This will be payable on November 15, 2024 to all Series A preferred unitholders of record as of November 8, 2024. About New Fortress Energy Inc. New Fortress Energy Inc. (NASDAQ:NFE) is a global energy infrastructure company founded to address energy poverty and accelerate the world's transition to reliable, affordable, and clean energy. The Company owns and operates natural gas and liquefied natural gas (LNG) infrastructure and an
New Fortress Energy Inc. (NASDAQ:NFE) ("NFE" or the "Company") is pleased to announce that its initial Fast LNG unit has completed its third cargo loading today. The cargo has been loaded onto the BW Pavilion and is setting sail for NFE's operation in Puerto Rico. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241025910713/en/BV Pavilion sails away with Fast LNG's third cargo (Photo: Business Wire) The unit is producing at or above its nameplate capacity of 1.4 MTPA. "We are excited that we have achieved full nameplate performance and believe there is room for further production gains as we continue to fine tune our facility. No
New Fortress Energy Inc. (NASDAQ:NFE) ("NFE" or the "Company") is pleased to announce that its board of directors has agreed to appoint Andrew Dete, Managing Director, to the role of President of NFE, joining the senior management team of Chairman and CEO Wes Edens, General Counsel Cameron MacDougall and Chief Financial Officer Chris Guinta. "Andrew has been fundamental to NFE's commercial growth and development over the past few years, and we are proud to formally appoint Andrew to the role of President as we see him as an integral part of NFE's future" says Wes Edens. About New Fortress Energy Inc. New Fortress Energy Inc. (NASDAQ:NFE) is a global energy infrastructure company founded
New Fortress Energy Inc. (NASDAQ:NFE) ("NFE" or the "Company") today announced two transformative debt and equity transactions totaling approximately $3 billion upon completion. Today, the Company issued 46,349,942 shares of its Class A common stock at a public offering price of $8.63 per share, for a total offering of $400 million. Wes Edens, Chairman and CEO of New Fortress Energy, purchased 5,793,742 shares, totaling ~$50 million of the offering, at the public offering price. Additionally, on October 1, 2024, the Company entered into a Transaction Support Agreement (the "Agreement") with certain of its existing noteholders. Pursuant to the Agreement, the Company is expected to consumma
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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