Excelerate Energy (NYSE:EE) Trading 6.3% Higher Following Analyst Upgrade

Excelerate Energy, Inc. (NYSE:EE)’s share price was up 6.3% during trading on Friday after Barclays raised their price target on the stock from $31.00 to $32.00. Barclays currently has an overweight rating on the stock. Excelerate Energy traded as high as $31.37 and last traded at $31.26. Approximately 107,775 shares traded hands during trading, a decline of 46% from the average daily volume of 198,127 shares. The stock had previously closed at $29.40.

A number of other equities research analysts have also recently commented on EE. Northland Securities lifted their price target on shares of Excelerate Energy from $29.00 to $37.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Stephens lifted their price target on shares of Excelerate Energy from $28.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $31.00 target price (up previously from $22.00) on shares of Excelerate Energy in a report on Tuesday, January 7th. Wells Fargo & Company boosted their target price on shares of Excelerate Energy from $19.00 to $22.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. Finally, Morgan Stanley reissued an “underweight” rating and set a $29.00 target price (up previously from $25.00) on shares of Excelerate Energy in a report on Friday, January 31st. Three analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Excelerate Energy presently has an average rating of “Hold” and a consensus target price of $31.17.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in EE. US Bancorp DE purchased a new position in shares of Excelerate Energy during the 3rd quarter valued at $130,000. Van ECK Associates Corp grew its position in shares of Excelerate Energy by 111.7% during the 3rd quarter. Van ECK Associates Corp now owns 16,197 shares of the company’s stock valued at $380,000 after purchasing an additional 8,547 shares in the last quarter. Victory Capital Management Inc. purchased a new position in shares of Excelerate Energy during the 3rd quarter valued at $214,000. Algert Global LLC grew its position in shares of Excelerate Energy by 13.7% during the 3rd quarter. Algert Global LLC now owns 118,093 shares of the company’s stock valued at $2,599,000 after purchasing an additional 14,253 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Excelerate Energy during the 3rd quarter valued at $94,000. 21.79% of the stock is currently owned by hedge funds and other institutional investors.

Excelerate Energy Price Performance

The business’s 50-day moving average price is $30.27 and its 200 day moving average price is $26.32. The stock has a market capitalization of $3.25 billion, a PE ratio of 30.92, a price-to-earnings-growth ratio of 5.82 and a beta of 1.41. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.12 and a current ratio of 4.12.

Excelerate Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 12th will be given a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.24 annualized dividend and a yield of 0.78%. Excelerate Energy’s dividend payout ratio (DPR) is presently 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.