Excelerate Energy, Inc. (NYSE:EE) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Excelerate Energy, Inc. (NYSE:EE) have received a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $44.56.

Several brokerages recently weighed in on EE. The Goldman Sachs Group started coverage on shares of Excelerate Energy in a research report on Wednesday, July 15th. They set a “buy” rating and a $49.00 price objective on the stock. Stephens reissued an “overweight” rating and issued a $45.00 target price on shares of Excelerate Energy in a research report on Thursday, July 9th. Raymond James Financial reissued a “strong-buy” rating and issued a $50.00 target price on shares of Excelerate Energy in a research report on Monday, September 21st. Zacks Research upgraded shares of Excelerate Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 14th. Finally, Wells Fargo & Company raised their price target on shares of Excelerate Energy from $37.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, August 12th.

Institutional Trading of Excelerate Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ranger Investment Management L.P. bought a new stake in Excelerate Energy during the second quarter worth approximately $34,658,000. Renaissance Technologies LLC raised its position in shares of Excelerate Energy by 132.9% in the first quarter. Renaissance Technologies LLC now owns 285,519 shares of the company’s stock valued at $9,542,000 after purchasing an additional 162,919 shares during the period. NFJ Investment Group LLC acquired a new stake in shares of Excelerate Energy in the fourth quarter worth $2,590,000. Wellington Management Group LLP lifted its stake in shares of Excelerate Energy by 26.8% in the second quarter. Wellington Management Group LLP now owns 3,339,759 shares of the company’s stock worth $126,877,000 after buying an additional 705,587 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Excelerate Energy during the 2nd quarter worth $1,266,000. Institutional investors and hedge funds own 21.79% of the company’s stock.

Excelerate Energy Price Performance

Shares of NYSE:EE opened at $34.61 on Friday. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of 23.87 and a beta of 1.25. Excelerate Energy has a 1 year low of $24.89 and a 1 year high of $43.17. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.52. The business has a fifty day simple moving average of $36.86 and a 200 day simple moving average of $35.91.

Excelerate Energy (NYSE:EE) last issued its earnings results on Wednesday, August 5th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The firm had revenue of $329.27 million for the quarter, compared to the consensus estimate of $344.27 million. Excelerate Energy had a return on equity of 2.24% and a net margin of 3.23%.The business’s quarterly revenue was up 60.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 earnings per share. As a group, sell-side analysts predict that Excelerate Energy will post 1.57 earnings per share for the current fiscal year.

Excelerate Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Wednesday, August 19th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This is a positive change from Excelerate Energy’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 1.0%. Excelerate Energy’s dividend payout ratio (DPR) is currently 24.83%.

Excelerate Energy Company Profile

Excelerate Energy, Inc is a U.S.-based energy infrastructure company focused on delivering liquefied natural gas (LNG) to markets that need flexible access to natural gas. The company’s core business is the ownership and operation of floating storage and regasification units (FSRUs), which receive, store, and convert LNG back into natural gas for delivery to onshore or pipeline networks.

In addition to operating FSRUs, Excelerate provides integrated LNG services that can include LNG procurement and supply, transportation, regasification, facility development, and related downstream infrastructure.