Latest news with #NewFortressEnergy
Yahoo
3 days ago
- Business
- Yahoo
Why New Fortress Energy Stock Is Plummeting Today
Key Points New Fortress Energy is no longer discussing terms for a potential energy deal with Puerto Rico. The deal was said to be worth approximately $20 billion, but New Fortress reportedly wasn't willing to accept some amended contract terms. New Fortress' high debt load means that landing the deal or other major new contracts is of high importance. 10 stocks we like better than New Fortress Energy › New Fortress Energy (NASDAQ: NFE) stock is getting hit with big sell-offs in Friday's trading. The company's share price was down 10.4% as of 2:30 p.m. ET. Meanwhile, the S&P 500 and the Nasdaq Composite were both up 0.4%. Bloomberg reported earlier this week that Puerto Rico had pulled out of negotiations with New Fortress Energy for a liquefied natural gas (LNG) deal. Investors had viewed landing the contract as a potential financial lifeline for the debt-laden energy company, and shareholders are selling out of the stock now that a deal could be off the table. New Fortress stock sinks following LNG contract news New Fortress Energy stock skyrocketed at the end of last month following reports that the company was on track to win a 15-year LNG contract with Puerto Rico worth roughly $20 billion. Unfortunately, it now looks like the deal may not go through. New Fortress was reportedly unwilling to accept amended contract terms, and Puerto Rico's officials have reportedly walked away from negotiations. With today's sell-off, the stock is now down 75.5% across this year's trading. What's next for New Fortress Energy? While the latest updates on the Puerto Rican LNG deal are far from promising, there's still a chance that the two sides will be able to come together and reach an agreement. Missing out on the deal would be a big loss for New Fortress. Puerto Rico's negotiators reportedly had concerns that the deal would give Fortress Energy an LNG monopoly, but it's possible that the company could wind up accepting conditions that had been proposed to alleviate the issue. With the company's debt load raising bankruptcy concerns, incentives could align for New Fortress to make concessions in order to secure the deal and shore up a new revenue source. Should you invest $1,000 in New Fortress Energy right now? Before you buy stock in New Fortress Energy, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and New Fortress Energy wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $636,774!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,064,942!* Now, it's worth noting Stock Advisor's total average return is 1,040% — a market-crushing outperformance compared to 182% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why New Fortress Energy Stock Is Plummeting Today was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
- Yahoo
Here is Why New Fortress Energy (NFE) Surged This Week
The share price of New Fortress Energy Inc. (NASDAQ:NFE) surged by 8.61% between July 15 and July 22, 2025, putting it among the Energy Stocks that Gained the Most This Week. A cutaway view of a modern energy infrastructure and its power generation facilities. New Fortress Energy Inc. (NASDAQ:NFE) owns and operates natural gas and LNG infrastructure and an integrated fleet of ships and logistics assets to rapidly deliver turnkey energy solutions to global markets. New Fortress Energy Inc. (NASDAQ:NFE) surged last week following reports that the company has executed a 5-year agreement for the deployment of the Energos Winter, a 138,250 m3 FSRU, with the Egyptian Natural Gas Holding Company. Chris Guinta, CFO of New Fortress Energy Inc. (NASDAQ:NFE), stated: 'We are pleased to reinforce our relationship with EGAS by way of our deployment of a second FSRU to Egypt. This deal enhances NFE's goals of providing reliable and cost-effective energy across the globe' This development builds on the long-term contract New Fortress Energy Inc. (NASDAQ:NFE) secured last month to supply LNG to five power plants in Puerto Rico, ensuring the company with a stable revenue stream for the next decade and a half and reinforcing investor confidence. However, despite the recent uptick, New Fortress Energy Inc. (NASDAQ:NFE) has fallen by more than 70% since the beginning of 2025. While we acknowledge the potential of NFE as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Best Nuclear Energy Stocks to Buy Right Now and The 5 Energy Stocks Billionaires are Quietly Piling Into. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
- Yahoo
Puerto Rico Abandons $20 Billion LNG Deal
Puerto Rico's government has pulled the plug on contract talks with New Fortress Energy after the island's federally appointed oversight board declined to approve a proposed $20-billion LNG supply deal, upending years of negotiations and raising questions about the future shape of its energy transition. According to a report by Hart Energy, the Financial Oversight and Management Board for Puerto Rico withheld support for the contract earlier this month, citing concerns about cost, duration, and long-term fuel dependency. In response, the Puerto Rico government formally canceled negotiations with New Fortress, despite the company's dominant position in the island's LNG market. New Fortress had been in line to supply fuel for the state-owned Puerto Rico Electric Power Authority (PREPA), whose fleet includes aging oil- and gas-fired plants awaiting conversion or decommissioning. The canceled deal was expected to cover LNG imports for a period of up to 25 years, potentially extending New Fortress's role as the island's primary gas supplier well into the 2040s. The collapse of the agreement leaves a significant vacuum in Puerto Rico's energy planning. According to the U.S. Energy Information Administration (EIA), natural gas, primarily LNG, accounted for approximately 34% of the island's electricity generation in 2023, with petroleum making up the majority. Although full-year 2024 data is not yet available, analysts at the Institute for Energy Economics and Financial Analysis (IEEFA) had warned that Puerto Rico's increasing reliance on LNG contracts could entrench fossil fuel use at the expense of federally supported renewable energy goals. In parallel, the U.S. Department of Energy is preparing to disburse nearly $1 billion in solar and storage funding through the Puerto Rico Energy Resilience Fund. As of July, however, local permitting constraints and utility interconnection delays had slowed the rollout of community-scale renewable projects. The New Fortress deal had also come under scrutiny for bypassing competitive procurement rules. While the company already supplies LNG to the San Juan combined-cycle plant and EcoEléctrica's Peñuelas facility, its attempt to lock in a 25-year sole-source contract drew criticism from public interest attorneys and environmental groups. Legal scholars warned the deal could have violated key provisions of Puerto Rico's energy reform laws. For New Fortress, which has not issued any public comment on the deal's breakdown, the canceled contract represents a setback in its bid to expand LNG operations across the Caribbean. The company is still advancing its Fast LNG project in Mexico, with modular floating liquefaction units aimed at flexible export markets, including potentially Puerto Rico. While one cargo was delivered to Puerto Rico in early 2025, no current-quarter shipments have been confirmed. Without a long-term anchor contract, its foothold on the island may be more vulnerable than previously assumed. Puerto Rico's Energy Bureau has not announced whether a new solicitation process will follow. With the island's debt restructuring still underway and federal funding tied to grid modernization, the question now is whether energy planners will reframe the mix around renewables, or seek a scaled-down LNG alternative. By Charles Kennedy for More Top Reads From this article on
Bloomberg
6 days ago
- Business
- Bloomberg
New Fortress Energy Taps Houlihan for Advice Amid Bond Rout
Billionaire investor Wes Edens' New Fortress Energy Inc. has tapped Houlihan Lokey for advice in anticipation of talks with creditors to cut its debt load, according to people with knowledge of the situation who asked not to be identified because they're not authorized to speak publicly. The liquefied natural gas company has been struggling with delayed projects that have dented its cash flow, resulting in even greater pressure on its already distressed debt pile. Its stock and bonds were roiled again Wednesday after Puerto Rico said it was ending negotiations over a 15-year deal to supply the island with LNG worth an estimated $20 billion.
Reuters
6 days ago
- Business
- Reuters
Puerto Rico ends $20 billion LNG contract talks with New Fortress Energy, Bloomberg News says
July 23 (Reuters) - Puerto Rico is ending talks to negotiate a $20 billion liquefied natural gas contract with New Fortress Energy (NFE.O), opens new tab, Bloomberg News reported on Wednesday, citing a negotiator. New Fortress was unwilling to discuss changes to the contract and missed a key deadline, the report said, citing Osvaldo Linares, president of Recoms Group, the island's third-party procurement office. Shares of New Fortress fell more than 3% in afternoon trading. The stock has declined more than 75% in the past six months. The U.S. energy firm has been struggling to secure LNG for its power-generation operations on long-term agreements. The company is trying to raise cash and improve its finances by taking on partners for its primary businesses and selling some assets following its deferral of a shareholder dividend last year. Linares and New Fortress Energy did not immediately respond to Reuters requests for comment. Earlier this month, Bloomberg News reported Puerto Rico's financial watchdog had halted the supply deal over monopoly concerns. As a result of the talks ending, Puerto Rico's government is now in discussions with four other companies to provide LNG to the island under 30-day emergency contracts, Bloomberg's report said on Wednesday. Linares told Bloomberg that his agency has sent a formal communication to Puerto Rico's oversight board that negotiations had ended. The Financial Oversight and Management Board of Puerto Rico did not immediately respond to a Reuters request for comment.
