Morgan Stanley Raises Excelerate Energy (NYSE:EE) Price Target to $25.00

Excelerate Energy (NYSE:EE) had its target price boosted by Morgan Stanley from $23.00 to $25.00 in a research note published on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other analysts have also recently issued reports on the company. Barclays lifted their price objective on Excelerate Energy from $22.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Northland Securities boosted their price target on Excelerate Energy from $25.00 to $29.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Wells Fargo & Company raised their price objective on shares of Excelerate Energy from $19.00 to $22.00 and gave the company an “underweight” rating in a research report on Tuesday, November 12th. Finally, Stephens boosted their target price on shares of Excelerate Energy from $21.00 to $28.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. One equities 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $25.43.

Excelerate Energy Stock Performance

Shares of EE stock opened at $27.54 on Thursday. The stock’s fifty day simple moving average is $22.91 and its 200-day simple moving average is $20.03. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of 27.82 and a beta of 1.28. The company has a current ratio of 4.12, a quick ratio of 4.12 and a debt-to-equity ratio of 0.34. Excelerate Energy has a 1-year low of $13.38 and a 1-year high of $28.60.

Excelerate Energy (NYSE:EE) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.32 by $0.03. The business had revenue of $193.42 million during the quarter, compared to analysts’ expectations of $194.09 million. Excelerate Energy had a net margin of 3.14% and a return on equity of 1.39%. During the same period last year, the company posted $0.40 earnings per share. On average, sell-side analysts predict that Excelerate Energy will post 1.18 earnings per share for the current fiscal year.

Excelerate Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Wednesday, November 20th will be given a $0.06 dividend. This is an increase from Excelerate Energy’s previous quarterly dividend of $0.03. This represents a $0.24 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Wednesday, November 20th. Excelerate Energy’s dividend payout ratio (DPR) is currently 24.24%.

Hedge Funds Weigh In On Excelerate Energy

Several large investors have recently made changes to their positions in the business. Quarry LP grew its holdings in Excelerate Energy by 28.9% in the 3rd quarter. Quarry LP now owns 1,822 shares of the company’s stock valued at $40,000 after buying an additional 409 shares during the last quarter. BOKF NA grew its stake in shares of Excelerate Energy by 5.8% in the first quarter. BOKF NA now owns 12,700 shares of the company’s stock worth $201,000 after acquiring an additional 700 shares during the last quarter. nVerses Capital LLC bought a new position in Excelerate Energy during the second quarter worth $26,000. Public Employees Retirement System of Ohio acquired a new position in Excelerate Energy during the 1st quarter valued at $38,000. Finally, Rhumbline Advisers boosted its holdings in Excelerate Energy by 9.6% in the 2nd quarter. Rhumbline Advisers now owns 29,243 shares of the company’s stock valued at $539,000 after purchasing an additional 2,553 shares during the period. 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.