Excelerate Energy, Inc. (EE) to Issue Quarterly Dividend of $0.06 on December 5th

Excelerate Energy, Inc. (NYSE:EE) declared a quarterly dividend on Thursday, October 31st, RTT News reports. Stockholders of record on Wednesday, November 20th will be given a dividend of 0.06 per share on Thursday, December 5th. This represents a $0.24 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Wednesday, November 20th. This is an increase from Excelerate Energy’s previous quarterly dividend of $0.03.

Excelerate Energy has a payout ratio of 7.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Excelerate Energy to earn $1.27 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 7.9%.

Excelerate Energy Stock Up 1.7 %

Excelerate Energy stock opened at $24.28 on Friday. The firm has a market capitalization of $2.60 billion, a PE ratio of 23.35 and a beta of 1.32. The company’s 50-day moving average is $21.41 and its 200-day moving average is $19.32. Excelerate Energy has a fifty-two week low of $13.38 and a fifty-two week high of $24.74. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.43 and a quick ratio of 3.43.

Excelerate Energy (NYSE:EE) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.06). Excelerate Energy had a return on equity of 1.68% and a net margin of 3.40%. The firm had revenue of $183.33 million for the quarter, compared to analyst estimates of $259.14 million. During the same quarter in the prior year, the firm earned $0.23 earnings per share. Sell-side analysts anticipate that Excelerate Energy will post 1.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on EE shares. Stephens upped their price target on shares of Excelerate Energy from $21.00 to $28.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Barclays upped their price target on shares of Excelerate Energy from $22.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Wells Fargo & Company lowered shares of Excelerate Energy from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $20.00 to $19.00 in a research note on Friday, August 30th. Finally, Northland Securities upped their price target on shares of Excelerate Energy from $23.00 to $25.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.57.

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.