|Bid||0.00 x 1800|
|Ask||0.00 x 900|
|Day's Range||42.49 - 44.94|
|52 Week Range||11.48 - 65.90|
|Beta (5Y Monthly)||1.74|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 03, 2021 - May 07, 2021|
|Forward Dividend & Yield||0.40 (0.95%)|
|Ex-Dividend Date||Mar 25, 2021|
|1y Target Est||62.30|
Energy infrastructure company New Fortress Energy has signed a Memorandum of Understanding (MOU) to supply natural gas to a subsidiary of Norsk Hydro. The agreement with the Alunorte Alumina Refinery in Brazil will last for a period of 15 years. Under the MOU New Fortress Energy will deliver a minimum agreed-upon volume of natural gas from its Barcarena LNG terminal. New Fortress Energy (NFE) Chairman and CEO Wes Edens said, “We look forward to this long-term partnership and are pleased to assist Hydro with the transition of the Alunorte refinery to utilizing a cleaner and more affordable supply of energy.” Hydro is converting part of its steam generation and purification process from fuel to natural gas which is expected to decrease emissions by about 20%. (See New Fortress Energy stock analysis on TipRanks) New Fortress Energy expects the Barcarena terminal completion and natural gas supply to start in 2022. Last month, Stifel Nicolaus analyst Benjamin Nolan reiterated a Buy rating on the stock and raised the price target to $58 (29.9% upside potential) from $50. Noting the opportunity in Fast LNG for the company, Nolan said it enables New Fortress to build a fixed price LNG source in half the time versus its competitors. Consensus on the Street is that New Fortress Energy is a Moderate Buy based on 2 Buys and 2 Holds. The average analyst price target of $54.75 implies upside potential of 22.6%. Shares have gained about 316.2% over the past year. Related News: BancorpSouth To Merge With Cadence; Shares Drop 5.5% FDA Approves New Drug Application For Axcella’s AXA1125; Shares Pop 10% Orbcomm To Be Acquired By GI Partners For $1.1B; Shares Pop 52% More recent articles from Smarter Analyst: Colony Capital Sells Stake In 2 Office Properties For $351M SunOpta Snaps Up Dream And WestSoy For $33 Million Shaw Communications’ 2Q EPS and Revenue Beat Estimates AutoCanada Announces Add-On Offering Of C$100M Senior Notes
LEAWOOD, KS / ACCESSWIRE / April 15, 2021 / TortoiseEcofin today announced that Golar LNG Partners LP (NASDAQ:GMLP) will be removed from the Tortoise MLP Index® (TMLP) as a result of the approved merger with New Fortress Energy Inc (NASDAQ:NFE). Due to the merger, GMLP will be removed from the index at market open on Monday, April 19, 2021.
New Fortress Energy Inc. (NASDAQ: NFE) ("NFE" or the "Company") announced today that it has signed a Memorandum of Understanding ("MOU") with a subsidiary of Norsk Hydro ("Hydro") to supply natural gas to the Alunorte Alumina Refinery in Pará, Brazil for a term of 15 years.