Excelerate Energy (NYSE:EE) Hits New 1-Year High – Here’s Why

Excelerate Energy, Inc. (NYSE:EE) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $43.07 and last traded at $42.8940, with a volume of 13727 shares traded. The stock had previously closed at $42.38.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EE. Tudor Pickering upgraded shares of Excelerate Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 17th. Wall Street Zen upgraded Excelerate Energy from a “hold” rating to a “buy” rating in a research note on Sunday, January 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $44.00 price target on shares of Excelerate Energy in a report on Friday, February 6th. Morgan Stanley increased their price objective on shares of Excelerate Energy from $30.00 to $40.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Excelerate Energy in a research note on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Excelerate Energy presently has an average rating of “Moderate Buy” and an average target price of $36.50.

Excelerate Energy Stock Performance

The company has a debt-to-equity ratio of 0.56, a current ratio of 2.39 and a quick ratio of 2.39. The stock’s 50-day moving average price is $33.60 and its 200-day moving average price is $28.57. The company has a market cap of $4.82 billion, a P/E ratio of 29.42, a PEG ratio of 1.34 and a beta of 1.36.

Excelerate Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Wednesday, March 11th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Wednesday, March 11th. Excelerate Energy’s payout ratio is 22.22%.

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

Institutional Investors Weigh In On Excelerate Energy

Several institutional investors and hedge funds have recently bought and sold shares of the company. Arax Advisory Partners increased its holdings in Excelerate Energy by 791.9% in the 4th quarter. Arax Advisory Partners now owns 883 shares of the company’s stock valued at $25,000 after buying an additional 784 shares during the period. AlphaQuest LLC bought a new position in Excelerate Energy in the second quarter valued at approximately $30,000. State of Alaska Department of Revenue acquired a new position in Excelerate Energy during the third quarter valued at approximately $30,000. Global Retirement Partners LLC acquired a new position in Excelerate Energy during the fourth quarter valued at approximately $33,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in Excelerate Energy during the third quarter worth $38,000. Institutional investors own 21.79% of the company’s stock.

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.