Excelerate Energy (NYSE:EE) Hits New 12-Month High at $22.31

Excelerate Energy, Inc. (NYSE:EE) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $22.31 and last traded at $22.31, with a volume of 222 shares. The stock had previously closed at $22.11.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wells Fargo & Company downgraded Excelerate Energy from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $20.00 to $19.00 in a research note on Friday, August 30th. Northland Securities lifted their price target on shares of Excelerate Energy from $23.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. Finally, Stephens restated an “overweight” rating and issued a $21.00 price objective on shares of Excelerate Energy in a research note on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Excelerate Energy currently has an average rating of “Hold” and an average price target of $22.00.

Excelerate Energy Price Performance

The company has a market cap of $2.39 billion, a P/E ratio of 21.89 and a beta of 1.29. The stock has a 50-day simple moving average of $19.45 and a 200 day simple moving average of $18.05. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.43 and a current ratio of 3.43.

Excelerate Energy (NYSE:EE) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). Excelerate Energy had a return on equity of 1.68% and a net margin of 3.40%. The business had revenue of $183.33 million for the quarter, compared to analyst estimates of $259.14 million. During the same quarter in the prior year, the firm earned $0.23 EPS. On average, equities analysts expect that Excelerate Energy, Inc. will post 1.14 EPS for the current year.

Excelerate Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were given a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Wednesday, August 21st. Excelerate Energy’s dividend payout ratio (DPR) is presently 9.90%.

Hedge Funds Weigh In On Excelerate Energy

Institutional investors have recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. acquired a new position in Excelerate Energy in the first quarter worth $2,202,000. Algert Global LLC acquired a new position in Excelerate Energy during the 2nd quarter worth about $1,915,000. Massachusetts Financial Services Co. MA bought a new stake in Excelerate Energy during the 2nd quarter worth about $1,569,000. Tortoise Capital Advisors L.L.C. increased its position in Excelerate Energy by 10.1% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 814,090 shares of the company’s stock valued at $15,012,000 after acquiring an additional 74,946 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Excelerate Energy by 28.2% during the second quarter. Marshall Wace LLP now owns 338,465 shares of the company’s stock worth $6,241,000 after purchasing an additional 74,491 shares in the last quarter. 21.79% of the stock is owned by institutional investors.

Excelerate Energy Company Profile

Excelerate Energy, Inc provides flexible liquefied natural gas (LNG) solutions worldwide. The company offers regasification services, including floating storage and regasification units (FSRUs), infrastructure development, and LNG and natural gas supply, procurement, and distribution services; LNG terminal services; and natural gas supply to-power projects.