Excelerate Energy (NYSE:EE) Sets New 52-Week High – Should You Buy?

Excelerate Energy, Inc. (NYSE:EE)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $24.99 and last traded at $24.99, with a volume of 115 shares traded. The stock had previously closed at $24.67.

Wall Street Analysts Forecast Growth

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

Excelerate Energy Price Performance

The stock has a market cap of $2.79 billion, a price-to-earnings ratio of 23.71 and a beta of 1.28. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.43 and a current ratio of 3.43. The company has a 50-day simple moving average of $21.58 and a two-hundred day simple moving average of $19.49.

Excelerate Energy (NYSE:EE) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.26 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 analyst estimates of $259.14 million. Excelerate Energy had a net margin of 3.40% and a return on equity of 1.68%. During the same quarter in the prior year, the business earned $0.23 EPS. As a group, equities research analysts forecast that Excelerate Energy, Inc. will post 1.14 EPS for the current year.

Excelerate Energy Increases Dividend

The business also recently disclosed 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. This represents a $0.24 dividend on an annualized basis and a yield of 0.92%. This is a boost from Excelerate Energy’s previous quarterly dividend of $0.03. The ex-dividend date is Wednesday, November 20th. Excelerate Energy’s payout ratio is 9.62%.

Hedge Funds Weigh In On Excelerate Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. bought a new stake in shares of Excelerate Energy during the 1st quarter worth approximately $2,202,000. Algert Global LLC acquired a new stake in shares of Excelerate Energy in the 2nd quarter valued at $1,915,000. Massachusetts Financial Services Co. MA bought a new position in shares of Excelerate Energy in the 2nd quarter valued at $1,569,000. Tortoise Capital Advisors L.L.C. raised its holdings 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 buying an additional 74,946 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Excelerate Energy by 28.2% during 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 last quarter. Institutional investors and hedge funds 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.