Excelerate Energy (NYSE:EE) Hits New 1-Year High Following Analyst Upgrade

Excelerate Energy, Inc. (NYSE:EE) shares reached a new 52-week high 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 topic of several other reports. Stephens raised their price target on shares of Excelerate Energy from $21.00 to $28.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Barclays lifted their price target on shares of Excelerate Energy from $22.00 to $26.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, Northland Securities increased their target price on Excelerate Energy from $25.00 to $29.00 and gave the stock an “outperform” rating in a report on Monday. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.57.

Institutional Investors Weigh In On Excelerate Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. BOKF NA increased its stake in shares of Excelerate Energy by 5.8% in 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. nVerses Capital LLC bought a new position in Excelerate Energy in the second quarter valued at about $26,000. Public Employees Retirement System of Ohio acquired a new position in Excelerate Energy during the first quarter worth about $38,000. Rhumbline Advisers lifted its holdings in shares of Excelerate Energy by 9.6% in the second quarter. Rhumbline Advisers now owns 29,243 shares of the company’s stock worth $539,000 after acquiring an additional 2,553 shares during the last quarter. Finally, Scout Investments Inc. grew its holdings in shares of Excelerate Energy by 1.1% during the 1st quarter. Scout Investments Inc. now owns 253,480 shares of the company’s stock valued at $4,020,000 after purchasing an additional 2,673 shares during the last quarter. Institutional investors own 21.79% of the company’s stock.

Excelerate Energy Stock Performance

The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 28.19 and a beta of 1.28. The company has a current ratio of 4.12, a quick ratio of 3.43 and a debt-to-equity ratio of 0.34. The stock’s 50-day moving average is $22.17 and its 200-day moving average is $19.75.

Excelerate Energy (NYSE:EE) last issued its earnings results on Wednesday, November 6th. The company reported $0.35 earnings per share (EPS) for the quarter, topping 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 business had revenue of $193.42 million during the quarter, compared to analysts’ expectations of $194.09 million. During the same quarter in the prior year, the firm earned $0.40 EPS. On average, analysts predict that Excelerate Energy, Inc. will post 1.18 EPS for the current fiscal year.

Excelerate Energy Increases Dividend

The business 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. The ex-dividend date is Wednesday, November 20th. This is an increase from Excelerate Energy’s previous quarterly dividend of $0.03. This represents a $0.24 annualized dividend and a yield of 0.86%. Excelerate Energy’s payout ratio is presently 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.