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

Excelerate Energy, Inc. (NYSE:EE)’s stock price reached a new 52-week high during mid-day trading on Friday after Stephens raised their price target on the stock from $21.00 to $28.00. Stephens currently has an overweight rating on the stock. Excelerate Energy traded as high as $23.61 and last traded at $23.61, with a volume of 236387 shares. The stock had previously closed at $22.56.

EE has been the subject of a number of other reports. Northland Securities raised their price target on Excelerate Energy from $23.00 to $25.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. Wells Fargo & Company cut Excelerate Energy from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $20.00 to $19.00 in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Excelerate Energy has a consensus rating of “Hold” and a consensus target price of $23.17.

Hedge Funds Weigh In On Excelerate Energy

A number of large investors have recently made changes to their positions in the business. nVerses Capital LLC acquired a new stake in shares of Excelerate Energy during the second quarter worth $26,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Excelerate Energy in the first quarter valued at about $38,000. Allspring Global Investments Holdings LLC acquired a new stake in Excelerate Energy in the 1st quarter worth about $118,000. SG Americas Securities LLC acquired a new stake in shares of Excelerate Energy in the third quarter valued at about $161,000. Finally, BOKF NA boosted its holdings in shares of Excelerate Energy by 5.8% during the 1st quarter. BOKF NA now owns 12,700 shares of the company’s stock worth $201,000 after purchasing an additional 700 shares during the last quarter. 21.79% of the stock is owned by institutional investors and hedge funds.

Excelerate Energy Stock Up 4.7 %

The business has a 50 day simple moving average of $20.10 and a 200-day simple moving average of $18.50. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of 22.70 and a beta of 1.32. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.43 and a current ratio of 3.43.

Excelerate Energy (NYSE:EE) last announced its earnings results on Wednesday, August 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). The firm had revenue of $183.33 million during the quarter, compared to analysts’ expectations of $259.14 million. Excelerate Energy had a net margin of 3.40% and a return on equity of 1.68%. During the same period in the previous year, the firm earned $0.23 EPS. On average, equities analysts expect that Excelerate Energy, Inc. will post 1.14 EPS for the current year.

Excelerate Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were issued a $0.025 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.10 annualized dividend and a yield of 0.42%. Excelerate Energy’s dividend payout ratio (DPR) is 9.62%.

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.