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

Excelerate Energy, Inc. (NYSE:EE)’s stock price reached a new 52-week high during mid-day trading on Thursday after Stephens raised their price target on the stock from $28.00 to $36.00. Stephens currently has an overweight rating on the stock. Excelerate Energy traded as high as $32.05 and last traded at $31.85, with a volume of 25819 shares traded. The stock had previously closed at $31.04.

Several other equities research analysts have also issued reports on the company. Northland Securities raised their price objective on Excelerate Energy from $25.00 to $29.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Wells Fargo & Company lifted their price target on Excelerate Energy from $19.00 to $22.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. Barclays lifted their price target on Excelerate Energy from $22.00 to $26.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, Morgan Stanley lifted their price target on Excelerate Energy from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Excelerate Energy currently has an average rating of “Hold” and a consensus price target of $27.00.

Institutional Trading of Excelerate Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP lifted its holdings in shares of Excelerate Energy by 28.9% in the 3rd quarter. Quarry LP now owns 1,822 shares of the company’s stock valued at $40,000 after buying an additional 409 shares during the period. nVerses Capital LLC acquired a new position in shares of Excelerate Energy in the 2nd quarter valued at about $26,000. Rhumbline Advisers lifted its holdings in shares of Excelerate Energy by 9.6% in the 2nd quarter. Rhumbline Advisers now owns 29,243 shares of the company’s stock valued at $539,000 after buying an additional 2,553 shares during the period. Susquehanna Fundamental Investments LLC lifted its holdings in shares of Excelerate Energy by 5.2% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 58,203 shares of the company’s stock valued at $1,073,000 after buying an additional 2,900 shares during the period. Finally, Verition Fund Management LLC lifted its holdings in shares of Excelerate Energy by 27.8% in the 3rd quarter. Verition Fund Management LLC now owns 17,724 shares of the company’s stock valued at $390,000 after buying an additional 3,855 shares during the period. Institutional investors and hedge funds own 21.79% of the company’s stock.

Excelerate Energy Trading Down 2.4 %

The firm has a market cap of $3.33 billion, a price-to-earnings ratio of 31.62, a PEG ratio of 2.20 and a beta of 1.43. The company has a fifty day moving average price of $25.80 and a 200-day moving average price of $21.19. The company has a current ratio of 4.12, a quick ratio of 4.12 and a debt-to-equity ratio of 0.34.

Excelerate Energy (NYSE:EE) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.03. The business had revenue of $193.42 million during the quarter, compared to analysts’ expectations of $194.09 million. Excelerate Energy had a return on equity of 1.39% and a net margin of 3.14%. During the same quarter in the previous year, the firm posted $0.40 EPS. As a group, research analysts expect that Excelerate Energy, Inc. will post 1.23 EPS for the current year.

Excelerate Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Wednesday, November 20th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend was Wednesday, November 20th. This is a positive change from Excelerate Energy’s previous quarterly dividend of $0.03. Excelerate Energy’s payout ratio is currently 24.24%.

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.