Excelerate Energy (NYSE:EE) Hits New 1-Year High – Here’s Why

Excelerate Energy, Inc. (NYSE:EE) shares reached a new 52-week high on Monday . The stock traded as high as $31.30 and last traded at $31.30, with a volume of 812 shares traded. The stock had previously closed at $30.57.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Northland Securities boosted their target price on Excelerate Energy from $25.00 to $29.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Morgan Stanley raised their target price on shares of Excelerate Energy from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Barclays boosted 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. Wells Fargo & Company raised their price objective on shares of Excelerate Energy from $19.00 to $22.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 12th. Finally, Stephens increased their target price on Excelerate Energy from $21.00 to $28.00 and gave the company an “overweight” rating in a report on Friday, October 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Excelerate Energy presently has an average rating of “Hold” and a consensus target price of $25.67.

Excelerate Energy Stock Up 0.2 %

The business’s 50 day simple moving average is $24.45 and its 200-day simple moving average is $20.62. 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 company has a market cap of $3.20 billion, a price-to-earnings ratio of 30.45, a price-to-earnings-growth ratio of 2.22 and a beta of 1.28.

Excelerate Energy (NYSE:EE) last released its quarterly earnings data 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 firm had revenue of $193.42 million during the quarter, compared to analysts’ expectations of $194.09 million. During the same quarter last year, the firm earned $0.40 earnings per share. Sell-side analysts expect that Excelerate Energy, Inc. will post 1.23 earnings per share for the current 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 given a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.24 dividend on an annualized basis and a yield of 0.80%. This is a boost from Excelerate Energy’s previous quarterly dividend of $0.03. Excelerate Energy’s dividend payout ratio is presently 24.24%.

Institutional Trading of Excelerate Energy

A number of institutional investors and hedge funds have recently modified their holdings of EE. Tortoise Capital Advisors L.L.C. lifted its position in shares of Excelerate Energy by 10.1% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 814,090 shares of the company’s stock worth $15,012,000 after purchasing an additional 74,946 shares during the last quarter. Marshall Wace LLP increased its position in Excelerate Energy by 28.2% in the 2nd quarter. Marshall Wace LLP now owns 338,465 shares of the company’s stock worth $6,241,000 after buying an additional 74,491 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Excelerate Energy by 7.9% during the second quarter. Renaissance Technologies LLC now owns 249,282 shares of the company’s stock worth $4,597,000 after buying an additional 18,282 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Excelerate Energy in the third quarter worth $4,385,000. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Excelerate Energy by 40.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 180,204 shares of the company’s stock valued at $3,966,000 after buying an additional 52,007 shares during the period. 21.79% of the stock is currently owned by institutional investors and hedge funds.

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.