Excelerate Energy’s (EE) Underweight Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their underweight rating on shares of Excelerate Energy (NYSE:EE) in a report released on Tuesday, MarketBeat.com reports. They currently have a $31.00 price target on the stock, up from their prior price target of $22.00.

Several other analysts have also recently weighed in on the stock. Stephens increased their price target on shares of Excelerate Energy from $28.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Wells Fargo & Company raised their target price on Excelerate Energy from $19.00 to $22.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 12th. Morgan Stanley upped their price target on Excelerate Energy from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Barclays raised their price objective on Excelerate Energy from $22.00 to $26.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Finally, Northland Securities upped their target price on shares of Excelerate Energy from $29.00 to $37.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $28.71.

Excelerate Energy Trading Down 0.5 %

Shares of EE stock opened at $29.44 on Tuesday. Excelerate Energy has a fifty-two week low of $13.38 and a fifty-two week high of $32.26. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.12 and a current ratio of 4.12. The stock’s fifty day moving average is $29.47 and its two-hundred day moving average is $23.44. The firm has a market capitalization of $3.13 billion, a P/E ratio of 29.74, a PEG ratio of 2.28 and a beta of 1.42.

Excelerate Energy (NYSE:EE) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.35 earnings per share 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 firm had revenue of $193.42 million for the quarter, compared to the consensus estimate of $194.09 million. During the same period last year, the firm posted $0.40 earnings per share. Research analysts expect that Excelerate Energy will post 1.23 earnings per share for the current fiscal year.

Excelerate Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Wednesday, November 20th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, November 20th. This is a positive change from Excelerate Energy’s previous quarterly dividend of $0.03. This represents a $0.24 dividend on an annualized basis and a yield of 0.82%. Excelerate Energy’s dividend payout ratio is 24.24%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in EE. Rhumbline Advisers grew its position in shares of Excelerate Energy by 9.6% during the second quarter. Rhumbline Advisers now owns 29,243 shares of the company’s stock worth $539,000 after buying an additional 2,553 shares in the last quarter. Quest Partners LLC grew its holdings in Excelerate Energy by 59.9% during the 2nd quarter. Quest Partners LLC now owns 11,468 shares of the company’s stock worth $211,000 after acquiring an additional 4,294 shares in the last quarter. Chesapeake Capital Corp IL acquired a new position in Excelerate Energy during the 2nd quarter worth approximately $360,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Excelerate Energy in the 2nd quarter valued at approximately $1,569,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Excelerate Energy by 13.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 176,334 shares of the company’s stock valued at $3,252,000 after purchasing an additional 20,661 shares in the last quarter. Hedge funds and other institutional investors own 21.79% of the company’s stock.

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.