Excelerate Energy (NYSE:EE) Reaches New 1-Year High After Analyst Upgrade

Excelerate Energy, Inc. (NYSE:EE)’s stock price hit a new 52-week high during mid-day 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. The stock had previously closed at $27.91.

EE has been the subject of a number of other reports. Stephens increased their price target on Excelerate Energy from $21.00 to $28.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Barclays increased their price target on Excelerate Energy from $22.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Finally, Northland Securities increased their price target on Excelerate Energy from $25.00 to $29.00 and gave the company an “outperform” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.57.

Institutional Investors Weigh In On Excelerate Energy

Hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. purchased a new position in shares of Excelerate Energy in the third quarter worth about $214,000. Van ECK Associates Corp increased its holdings in shares of Excelerate Energy by 111.7% in the third quarter. Van ECK Associates Corp now owns 16,197 shares of the company’s stock worth $380,000 after buying an additional 8,547 shares during the period. US Bancorp DE purchased a new position in shares of Excelerate Energy in the third quarter worth about $130,000. Kings Path Partners LLC purchased a new position in shares of Excelerate Energy in the third quarter worth about $715,000. Finally, SG Americas Securities LLC purchased a new position in shares of Excelerate Energy in the third quarter worth about $161,000. Institutional investors own 21.79% of the company’s stock.

Excelerate Energy Stock Performance

The stock has a market cap of $3.05 billion, a PE ratio of 28.19 and a beta of 1.28. The company has a fifty day moving average price of $22.17 and a 200 day moving average price of $19.75. The company has a quick ratio of 3.43, a current ratio of 4.12 and a debt-to-equity ratio of 0.34.

Excelerate Energy (NYSE:EE) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Excelerate Energy had a return on equity of 1.39% and a net margin of 3.14%. The company had revenue of $193.42 million for the quarter, compared to the consensus estimate of $194.09 million. During the same quarter in the previous year, the business earned $0.40 EPS. Analysts expect that Excelerate Energy, Inc. will post 1.18 earnings per share for the current year.

Excelerate Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Wednesday, November 20th will be issued a dividend of $0.06 per share. This is an increase from Excelerate Energy’s previous quarterly dividend of $0.03. The ex-dividend date is Wednesday, November 20th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.84%. Excelerate Energy’s dividend payout ratio is 10.10%.

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.