Excelerate Energy, Inc. (NYSE:EE) Plans Quarterly Dividend of $0.03

Excelerate Energy, Inc. (NYSE:EE) announced a quarterly dividend on Thursday, May 2nd, Zacks reports. Investors of record on Wednesday, May 22nd will be paid a dividend of 0.025 per share on Thursday, June 6th. This represents a $0.10 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Tuesday, May 21st.

Excelerate Energy has a payout ratio of 8.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Excelerate Energy to earn $1.21 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 8.3%.

Excelerate Energy Price Performance

Shares of Excelerate Energy stock traded up $0.19 during trading hours on Friday, reaching $17.41. 151,122 shares of the company’s stock were exchanged, compared to its average volume of 198,734. The business has a fifty day moving average of $15.87 and a two-hundred day moving average of $15.63. The company has a market capitalization of $1.89 billion, a P/E ratio of 16.89 and a beta of 1.30. The company has a quick ratio of 3.42, a current ratio of 3.43 and a debt-to-equity ratio of 0.38. Excelerate Energy has a 1 year low of $13.38 and a 1 year high of $22.42.

Excelerate Energy (NYSE:EE) last issued its earnings results on Wednesday, February 28th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.03). Excelerate Energy had a return on equity of 1.83% and a net margin of 2.62%. The company had revenue of $240.06 million for the quarter, compared to analyst estimates of $265.31 million. As a group, research analysts predict that Excelerate Energy will post 1.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Northland Securities initiated coverage on Excelerate Energy in a report on Monday, February 26th. They set an “outperform” rating and a $23.00 price target on the stock. Morgan Stanley cut their price target on shares of Excelerate Energy from $30.00 to $19.00 and set an “equal weight” rating for the company in a report on Tuesday, February 13th. StockNews.com upgraded Excelerate Energy from a “sell” rating to a “hold” rating in a report on Saturday, March 9th. Raymond James reduced their target price on Excelerate Energy from $26.00 to $24.00 and set an “outperform” rating on the stock in a research report on Friday, January 19th. Finally, Stephens initiated coverage on Excelerate Energy in a report on Tuesday. They set an “overweight” rating and a $21.00 price target for the company. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.75.

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.