Excelerate Energy (NYSE:EE) Hits New 12-Month High – Here’s Why

Excelerate Energy, Inc. (NYSE:EE) reached a new 52-week high during trading on Monday . The company traded as high as $28.74 and last traded at $28.53, with a volume of 133310 shares changing hands. The stock had previously closed at $27.54.

Wall Street Analyst Weigh In

EE has been the topic of several analyst reports. Northland Securities increased their target price 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 lifted their price objective on shares of Excelerate Energy from $19.00 to $22.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 12th. Barclays increased their target price on shares of Excelerate Energy from $22.00 to $26.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Morgan Stanley boosted their price target on shares of Excelerate Energy from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Finally, Stephens raised 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $25.67.

Excelerate Energy Trading Up 5.9 %

The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of 30.15 and a beta of 1.28. The business’s fifty day moving average is $23.34 and its 200 day moving average is $20.21. The company has a quick ratio of 4.12, a current ratio of 4.12 and a debt-to-equity ratio of 0.34.

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

Excelerate Energy Increases Dividend

The company also recently declared 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. The ex-dividend date is Wednesday, November 20th. This represents a $0.24 dividend on an annualized basis and a yield of 0.80%. This is an increase from Excelerate Energy’s previous quarterly dividend of $0.03. Excelerate Energy’s dividend payout ratio is 24.24%.

Institutional Trading of Excelerate Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Tortoise Capital Advisors L.L.C. raised its holdings in Excelerate Energy by 10.1% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 814,090 shares of the company’s stock worth $15,012,000 after acquiring an additional 74,946 shares in the last quarter. Marshall Wace LLP increased 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 purchasing an additional 74,491 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Excelerate Energy by 7.9% during the 2nd quarter. Renaissance Technologies LLC now owns 249,282 shares of the company’s stock worth $4,597,000 after purchasing an additional 18,282 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Excelerate Energy in the 3rd quarter valued at approximately $4,385,000. Finally, Jacobs Levy Equity Management Inc. raised its position in Excelerate Energy by 40.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 180,204 shares of the company’s stock worth $3,966,000 after acquiring an additional 52,007 shares in the last quarter. 21.79% of the stock is currently owned by institutional investors and hedge funds.

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.