Excelerate Energy (NYSE:EE) Reaches New 12-Month High on Analyst Upgrade

Excelerate Energy, Inc. (NYSE:EE) shares reached a new 52-week high on Friday after Stephens raised their price target on the stock from $21.00 to $28.00. Stephens currently has an overweight rating on the stock. Excelerate Energy traded as high as $23.61 and last traded at $23.61, with a volume of 236387 shares traded. The stock had previously closed at $22.56.

Several other equities analysts have also weighed in on the stock. Wells Fargo & Company lowered shares of Excelerate Energy from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $20.00 to $19.00 in a report on Friday, August 30th. Northland Securities boosted their target price on shares of Excelerate Energy from $23.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Excelerate Energy currently has an average rating of “Hold” and an average target price of $23.17.

Hedge Funds Weigh In On Excelerate Energy

Large investors have recently made changes to their positions in the stock. nVerses Capital LLC acquired a new position in shares of Excelerate Energy in the 2nd quarter worth approximately $26,000. Public Employees Retirement System of Ohio purchased a new stake in Excelerate Energy during the 1st quarter worth approximately $38,000. SG Americas Securities LLC purchased a new stake in Excelerate Energy during the 3rd quarter worth approximately $161,000. Allspring Global Investments Holdings LLC purchased a new stake in Excelerate Energy during the 1st quarter worth approximately $118,000. Finally, Quest Partners LLC increased its stake in Excelerate Energy by 59.9% during the 2nd quarter. Quest Partners LLC now owns 11,468 shares of the company’s stock worth $211,000 after buying an additional 4,294 shares during the period. 21.79% of the stock is currently owned by institutional investors and hedge funds.

Excelerate Energy Stock Performance

The firm’s 50 day moving average is $20.10 and its two-hundred day moving average is $18.52. The stock has a market capitalization of $2.53 billion, a PE ratio of 22.70 and a beta of 1.32. 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 announced its earnings results on Wednesday, August 7th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $259.14 million. During the same period in the previous year, the company earned $0.23 earnings per share. As a group, research analysts predict that Excelerate Energy, Inc. will post 1.14 earnings per share for the current year.

Excelerate Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st were given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date was Wednesday, August 21st. Excelerate Energy’s dividend payout ratio is presently 9.62%.

About Excelerate Energy

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.