New Fortress Energy Inc Class A
NFE: XNAS (USA)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| $57.00 | Pjsjb | Ffdsxxqg |
New Fortress Energy Earnings: The Pivot to Deleveraging Makes Sense
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In its third quarter. New Fortress Energy highlighted a series of encouraging developments focusing on a new push of investment in its terminal infrastructure and deleveraging as well as updating on its contracting status, with 90% of its 2024 volumes secured and guiding volume increases for 2024 and 2025. Even so, we have slightly reduced our fair value estimate from $30 to $29 per share because we expect reduced total volumes delivered in 2023 and to reflect increased capital spending activity. Our no-moat rating is unchanged.