Excelerate Energy (NYSE:EE) Sets New 52-Week High on Analyst Upgrade

Excelerate Energy, Inc. (NYSE:EE)’s stock price hit a new 52-week high during mid-day trading on Tuesday after Barclays raised their price target on the stock from $33.00 to $41.00. Barclays currently has an overweight rating on the stock. Excelerate Energy traded as high as $43.18 and last traded at $40.2150, with a volume of 59971 shares traded. The stock had previously closed at $41.99.

Other equities analysts have also issued research reports about the company. Morgan Stanley lifted their price target on Excelerate Energy from $30.00 to $40.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 24th. Wells Fargo & Company lifted their target price on Excelerate Energy from $29.00 to $39.00 and gave the company an “equal weight” rating in a research report on Friday, February 27th. Northland Securities set a $50.00 target price on shares of Excelerate Energy in a report on Friday, January 30th. Tudor Pickering upgraded shares of Excelerate Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 17th. Finally, Wall Street Zen cut shares of Excelerate Energy from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

Institutional Trading of Excelerate Energy

A number of institutional investors have recently modified their holdings of EE. Arax Advisory Partners increased its holdings in Excelerate Energy by 791.9% during the 4th quarter. Arax Advisory Partners now owns 883 shares of the company’s stock valued at $25,000 after purchasing an additional 784 shares during the period. AlphaQuest LLC bought a new stake in shares of Excelerate Energy in the 2nd quarter worth approximately $30,000. State of Alaska Department of Revenue bought a new stake in shares of Excelerate Energy in the 3rd quarter worth approximately $30,000. Global Retirement Partners LLC purchased a new position in shares of Excelerate Energy during the fourth quarter valued at approximately $33,000. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Excelerate Energy during the third quarter valued at approximately $38,000. 21.79% of the stock is currently owned by hedge funds and other institutional investors.

Excelerate Energy Price Performance

The company has a market cap of $4.39 billion, a PE ratio of 29.19, a price-to-earnings-growth ratio of 1.26 and a beta of 1.34. The business has a 50 day moving average of $35.53 and a 200 day moving average of $29.36. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.43 and a quick ratio of 2.39.

Excelerate Energy (NYSE:EE) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). Excelerate Energy had a return on equity of 4.12% and a net margin of 3.19%.The company had revenue of $317.57 million during the quarter, compared to the consensus estimate of $293.49 million. During the same quarter last year, the company posted $0.40 earnings per share. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. As a group, research analysts predict that Excelerate Energy, Inc. will post 1.16 EPS for the current year.

Excelerate Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Wednesday, March 11th will be issued a $0.08 dividend. The ex-dividend date is Wednesday, March 11th. This represents a $0.32 annualized dividend and a yield of 0.8%. Excelerate Energy’s dividend payout ratio (DPR) is 24.24%.

Excelerate Energy announced that its board has authorized a stock buyback plan on Thursday, December 11th that permits the company to buyback $75.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

About Excelerate Energy

Excelerate Energy (NYSE: EE) is a Houston‐based energy infrastructure company specializing in liquefied natural gas (LNG) solutions. The company develops, owns and operates floating regasification units (FSRUs) that convert shipped LNG into natural gas for delivery into existing pipeline networks. Excelerate Energy’s integrated platform also includes specialized LNG carriers, proprietary regasification technology and on‐shore support facilities, enabling rapid deployment of import terminals without extensive capital construction.

Founded in the early 2000s, Excelerate Energy pioneered the first FSRU in 2007, demonstrating the flexibility and cost advantages of floating LNG import infrastructure.