Excelerate Energy (NYSE:EE) Hits New 12-Month High After Analyst Upgrade

Excelerate Energy, Inc. (NYSE:EE)’s stock price reached a new 52-week high during trading on Tuesday after Wells Fargo & Company raised their price target on the stock from $19.00 to $22.00. Wells Fargo & Company currently has an underweight rating on the stock. Excelerate Energy traded as high as $28.42 and last traded at $28.41, with a volume of 19583 shares traded. The stock had previously closed at $27.91.

Several other brokerages have also issued reports on EE. Barclays raised their price objective on Excelerate Energy from $22.00 to $26.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Stephens increased their target price on shares of 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 increased their target price on shares of Excelerate Energy from $25.00 to $29.00 and gave the stock an “outperform” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.57.

Institutional Trading of Excelerate Energy

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

Excelerate Energy Stock Down 4.3 %

The firm has a market cap of $2.86 billion, a P/E ratio of 27.02 and a beta of 1.28. The business’s fifty day moving average price is $22.36 and its two-hundred day moving average price is $19.83. 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 posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.03. Excelerate Energy had a net margin of 3.14% and a return on equity of 1.39%. The company had revenue of $193.42 million for the quarter, compared to analyst estimates of $194.09 million. During the same period last year, the business posted $0.40 EPS. As a group, equities research analysts anticipate that Excelerate Energy, Inc. will post 1.18 EPS for the current year.

Excelerate Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Wednesday, November 20th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.24 dividend on an annualized basis and a yield of 0.90%. This is a boost from Excelerate Energy’s previous quarterly dividend of $0.03. Excelerate Energy’s payout ratio is currently 10.10%.

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.