Excelerate Energy (NYSE:EE) Receives Underweight Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their underweight rating on shares of Excelerate Energy (NYSE:EE) in a research report report published on Tuesday, MarketBeat reports. They currently have a $31.00 target price on the stock, up from their previous target price of $22.00.

EE has been the topic of a number of other research reports. Northland Securities raised their price target on Excelerate Energy from $29.00 to $37.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. Stephens lifted their target price on shares of Excelerate Energy from $28.00 to $36.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Morgan Stanley increased their price target on shares of Excelerate Energy from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Barclays lifted their price objective on shares of Excelerate Energy from $22.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Finally, Wells Fargo & Company increased their target price on shares of Excelerate Energy from $19.00 to $22.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $28.71.

Excelerate Energy Stock Down 0.5 %

EE stock opened at $29.44 on Tuesday. The stock has a market cap of $3.13 billion, a P/E ratio of 29.74, a PEG ratio of 2.28 and a beta of 1.42. 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 has a twelve month low of $13.38 and a twelve month high of $32.26. The company’s 50 day moving average is $29.47 and its two-hundred day moving average is $23.44.

Excelerate Energy (NYSE:EE) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The firm had revenue of $193.42 million during the quarter, compared to analysts’ expectations of $194.09 million. Excelerate Energy had a net margin of 3.14% and a return on equity of 1.39%. During the same period in the previous year, the company earned $0.40 earnings per share. Research analysts expect that Excelerate Energy will post 1.23 earnings per share for the current fiscal year.

Excelerate Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Wednesday, November 20th were given a $0.06 dividend. This is a boost from Excelerate Energy’s previous quarterly dividend of $0.03. The ex-dividend date was Wednesday, November 20th. This represents a $0.24 annualized dividend and a yield of 0.82%. Excelerate Energy’s dividend payout ratio is presently 24.24%.

Hedge Funds Weigh In On Excelerate Energy

A number of institutional investors and hedge funds have recently made changes to their positions in EE. Hotchkis & Wiley Capital Management LLC purchased a new stake in Excelerate Energy during the third quarter worth about $4,385,000. Algert Global LLC purchased a new stake in shares of Excelerate Energy during the 2nd quarter worth approximately $1,915,000. Massachusetts Financial Services Co. MA purchased a new position in Excelerate Energy in the 2nd quarter valued at approximately $1,569,000. Marshall Wace LLP raised its holdings in 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 during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in Excelerate Energy by 40.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 180,204 shares of the company’s stock worth $3,966,000 after purchasing an additional 52,007 shares in the last quarter. 21.79% of the stock is owned by institutional investors and hedge funds.

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.