|Over a week ago|
New Fortress Energy price target raised to $26 from $16 at Citi » 06:3408/0508/05/20
Citi analyst Ryan Levine…
Citi analyst Ryan Levine raised the firm's price target on New Fortress Energy to $26 from $16 and keeps a Buy rating on the shares. The analyst sees a "de-risked" and improved business outlook. New Fortress hhs added many tools to attract incremental investors including recent the C-Corp conversion, an upcoming 40c and growing dividend and new strategic initiatives, Levine tells investors in a research note.
New Fortress Energy reports Q2 EPS (32c), consensus (30c) » 06:0308/0308/03/20
Reports Q2 revenue…
Reports Q2 revenue $94.6M, consensus $130.56M. Average daily volumes sold in Q2 2020 were approximately 978,000 gallons per day which is a 223,000 increase from Q1 2020
Scotiabank starts New Fortress Energy at Outperform with $25 price target » 09:0807/2207/22/20
As previously reported,…
As previously reported, Scotiabank analyst Alonso Guerra-Garcia initiated coverage of New Fortress Energy with an Outperform rating and $25 price target. He sees 2020 and 2021 as "catalyst rich" years for the company, which is focused on converting emerging market end users to cleaner-burning, low-cost LNG. He cites ramping terminal volumes, targeted cost savings, and potential new agreements. He also sees significant upside potential from converting additional commitments, reducing capital costs, and accelerating speed to market, Guerra-Garcia added.
New Fortress Energy initiated with an Outperform at Scotiabank » 05:2507/2207/22/20
Scotiabank initiated coverage of New Fortress Energy with an Outperform rating and $25 price target.
Seven new option listings and eight option delistings on July 20th » 08:3007/2007/20/20
ALTG, FUV, KC, NFE, SOS, TIGR, CRC, EYES, GURE, JRJC, POWL, SRRA, XRF
New option listings for…
New option listings for July 20th include Alta Equipment Group Inc (ALTG), California Resources Corporation (CRCQQ), Arcimoto Inc (FUV), Kingsoft Cloud Holdings Ltd (ADS) (KC), New Fortress Energy LLC (Class A Stock) (NFE), SOS Limited (Class A ADS) (SOS), and UP Fintech Holding Ltd (Class A ADR) (TIGR). Option delistings effective July 20th include California Resources Corporation New (CRC), Second Sight (EYES), Gulf Resources (GURE), China Finance Online (JRJC), LSC Communications Inc (LKSDQ), Powell (POWL), Sierra Oncology (SRRA), and China Rapid Finance Limited (Class A ADS) (XRF).
New Fortress Energy participates in a conference call with Morgan Stanley » 09:5107/1607/16/20
Morgan Stanley Integrated…
Morgan Stanley Integrated Oil, E&P and Midstream Analyst and Founder & CEO Edens discuss the energy transition from oil to LNG to green hydrogen on a conference call to be held July 16 at 11 am hosted by Morgan Stanley.
|Over a month ago|
New Fortress Energy agrees to terminate Centrica LNG obligation for $105M » 09:2507/0607/06/20
New Fortress Energy…
New Fortress Energy announced that the company entered into an agreement with Centrica LNG to terminate New Fortress's obligation to purchase any additional LNG from Centrica for the remainder of 2020 in exchange for a payment of $105M. As a result, New Fortress will now be able to purchase LNG in the open market at prices that are lower than the price previously agreed to with Centrica. As a result of facilities commencing operations in Puerto Rico in addition to Jamaica, New Fortress has made progress toward achieving committed volumes of over $400M on an annualized basis during the third quarter of 2020. The company expects annualized cash SG&A and annualized cash interest payments to be approximately $80M and $80M, respectively, during the same period. In addition, the company is currently advancing projects in both Mexico and Nicaragua, with the goal of substantially completing these projects by the end of 2020. Once fully operational, New Fortress aims for these projects to contribute an additional approximately $150M toward the company's illustrative annualized operating margin goal from committed volumes.
New Fortress Energy announces conversion of Class B common stock » 17:2506/0906/09/20
New Fortress Energy…
New Fortress Energy announced that on June 10 all outstanding shares of Class B common stock will be converted into Class A common shares, which are the publicly traded shares of the Company. After the conversion, New Fortress will have a single class of Class A common shares in an effort to simplify the share structure and create greater transparency for all shareholders. The conversion is expected to significantly reduce the Company's future tax distribution obligations, which will enable New Fortress to invest those funds into the development of new projects that the Company expects will increase its returns for all stockholders, enhance its liquidity, improve its credit profile and lower its cost of capital.
|Over a quarter ago|
New Fortress Energy reports Q1 EPS (30c), consensus (18c) » 05:2005/0505/05/20
Reports Q1 revenue…
Reports Q1 revenue $69.8M, consensus $82.24M. "Record volumes were achieved in Q1 and for the first time exceeded 1,650,000 gallons per day in April 2020; Average daily volumes sold in Q1 2020 were in excess of 750,000 gallons per day which is a 200,000 increase from Q4 2019; Gallons per day volumes are expected to be between 1,500,000 and 2,500,000 on average for the remainder of 2020; As development projects reach full commercial operations, the company expects Operating Margin to expand as asset utilization is enhanced."
New Fortress Energy files to sell 145.05M Class A shares for holders 17:0003/0503/05/20