Excelerate Energy (NYSE:EE) Price Target Raised to $26.00

Excelerate Energy (NYSE:EE) had its target price raised by Barclays from $22.00 to $26.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts have also recently commented on the stock. Wells Fargo & Company cut shares of Excelerate Energy from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $20.00 to $19.00 in a research report on Friday, August 30th. Stephens raised their target price on Excelerate Energy from $21.00 to $28.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Northland Securities lifted their target price on Excelerate Energy from $23.00 to $25.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Excelerate Energy presently has an average rating of “Moderate Buy” and a consensus target price of $23.57.

Excelerate Energy Price Performance

Shares of EE opened at $23.48 on Monday. The business has a 50-day moving average of $20.84 and a 200-day moving average of $18.95. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.43 and a quick ratio of 3.43. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of 23.25 and a beta of 1.32. Excelerate Energy has a 1 year low of $13.38 and a 1 year high of $24.12.

Excelerate Energy (NYSE:EE) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.26 earnings per share (EPS) 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 firm had revenue of $183.33 million for the quarter, compared to the consensus estimate of $259.14 million. During the same quarter in the previous year, the business posted $0.23 EPS. As a group, equities research analysts anticipate that Excelerate Energy will post 1.14 earnings per share for the current year.

Excelerate Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st were issued a $0.025 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.10 annualized dividend and a yield of 0.43%. Excelerate Energy’s payout ratio is currently 9.90%.

Hedge Funds Weigh In On Excelerate Energy

A number of large investors have recently modified their holdings of the company. Viking Fund Management LLC raised its holdings in Excelerate Energy by 40.0% during the first quarter. Viking Fund Management LLC now owns 140,000 shares of the company’s stock worth $2,243,000 after buying an additional 40,000 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Excelerate Energy during the first quarter worth about $118,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Excelerate Energy in the 1st quarter worth about $886,000. Scout Investments Inc. lifted its position in Excelerate Energy by 1.1% in the 1st quarter. Scout Investments Inc. now owns 253,480 shares of the company’s stock valued at $4,020,000 after acquiring an additional 2,673 shares in the last quarter. Finally, BOKF NA boosted its stake in Excelerate Energy by 5.8% during the 1st quarter. BOKF NA now owns 12,700 shares of the company’s stock valued at $201,000 after purchasing an additional 700 shares during the last quarter. 21.79% of the stock is currently owned by institutional investors.

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.