Excelerate Energy, Inc. (NYSE:EE) Plans Dividend Increase – $0.06 Per Share

Excelerate Energy, Inc. (NYSE:EE) declared a quarterly dividend on Thursday, October 31st,RTT News reports. Investors 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 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Wednesday, November 20th. This is a boost from Excelerate Energy’s previous quarterly dividend of $0.03.

Excelerate Energy has a dividend payout ratio of 16.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Excelerate Energy to earn $1.33 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 18.0%.

Excelerate Energy Price Performance

Shares of NYSE:EE opened at $28.19 on Tuesday. The company has a quick ratio of 4.12, a current ratio of 4.12 and a debt-to-equity ratio of 0.34. The company has a market cap of $3.00 billion, a P/E ratio of 28.47 and a beta of 1.28. Excelerate Energy has a 52 week low of $13.38 and a 52 week high of $29.01. The company has a 50-day moving average price of $23.10 and a 200 day moving average price of $20.13.

Excelerate Energy (NYSE:EE) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The firm had revenue of $193.42 million during the quarter, compared to the consensus estimate of $194.09 million. Excelerate Energy had a net margin of 3.14% and a return on equity of 1.39%. During the same quarter last year, the firm earned $0.40 earnings per share. Research analysts predict that Excelerate Energy will post 1.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

EE has been the subject of a number of recent analyst reports. Morgan Stanley raised their price objective on shares of Excelerate Energy from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Barclays raised their price objective on shares of Excelerate Energy from $22.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Stephens lifted their price target on shares of Excelerate Energy from $21.00 to $28.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Wells Fargo & Company lifted their price target 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, Northland Securities lifted their price target on shares of Excelerate Energy from $25.00 to $29.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $25.67.

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.