Excelerate Energy (NYSE:EE) Now Covered by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of Excelerate Energy (NYSE:EE) in a report issued on Monday. The brokerage issued a neutral rating and a $30.00 price objective on the stock.

Several other equities analysts have also issued reports on the company. Jefferies Financial Group started coverage on Excelerate Energy in a research note on Thursday, June 5th. They set a “buy” rating and a $39.00 price target on the stock. Wells Fargo & Company set a $26.00 price target on Excelerate Energy in a research note on Monday, August 11th. Citigroup reaffirmed an “outperform” rating on shares of Excelerate Energy in a research note on Wednesday, August 13th. Finally, Wall Street Zen raised Excelerate Energy from a “sell” rating to a “hold” rating in a research note on Sunday, August 24th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.71.

Excelerate Energy Trading Up 3.0%

Shares of EE opened at $23.71 on Monday. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.58. Excelerate Energy has a 12-month low of $17.89 and a 12-month high of $32.99. The firm has a market capitalization of $2.70 billion, a PE ratio of 17.43 and a beta of 1.38. The stock’s fifty day simple moving average is $25.02 and its 200-day simple moving average is $27.17.

Excelerate Energy (NYSE:EE) last issued its quarterly earnings results on Monday, August 11th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. Excelerate Energy had a return on equity of 4.16% and a net margin of 3.64%.The business had revenue of $204.60 million for the quarter, compared to analyst estimates of $259.82 million. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, research analysts predict that Excelerate Energy will post 1.16 earnings per share for the current year.

Excelerate Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Wednesday, August 20th were issued a $0.08 dividend. This is a positive change from Excelerate Energy’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $0.32 annualized dividend and a dividend yield of 1.3%. Excelerate Energy’s dividend payout ratio (DPR) is presently 23.53%.

Hedge Funds Weigh In On Excelerate Energy

Several institutional investors and hedge funds have recently made changes to their positions in EE. TimesSquare Capital Management LLC increased its holdings in shares of Excelerate Energy by 49.8% in the second quarter. TimesSquare Capital Management LLC now owns 716,352 shares of the company’s stock worth $21,003,000 after acquiring an additional 238,259 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Excelerate Energy by 41.6% during the second quarter. Geode Capital Management LLC now owns 608,070 shares of the company’s stock worth $17,830,000 after purchasing an additional 178,507 shares during the period. Qube Research & Technologies Ltd raised its position in shares of Excelerate Energy by 328.4% during the second quarter. Qube Research & Technologies Ltd now owns 453,345 shares of the company’s stock worth $13,292,000 after purchasing an additional 347,521 shares during the period. Russell Investments Group Ltd. raised its position in shares of Excelerate Energy by 3.2% during the second quarter. Russell Investments Group Ltd. now owns 450,065 shares of the company’s stock worth $13,196,000 after purchasing an additional 14,117 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Excelerate Energy by 27.5% during the first quarter. Goldman Sachs Group Inc. now owns 442,764 shares of the company’s stock worth $12,698,000 after purchasing an additional 95,565 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.