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

Excelerate Energy, Inc. (NYSE:EE) reached a new 52-week high during trading on Friday . The company traded as high as $33.00 and last traded at $33.5870, with a volume of 10582 shares trading hands. The stock had previously closed at $32.39.

Analysts Set New Price Targets

Several analysts have recently issued reports on EE shares. Raymond James Financial upgraded shares of Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 target price for the company in a research note on Monday, January 5th. Wall Street Zen upgraded shares of Excelerate Energy from a “hold” rating to a “buy” rating in a report on Sunday, January 11th. Morgan Stanley set a $30.00 price objective on shares of Excelerate Energy and gave the stock an “equal weight” rating in a research report on Thursday, November 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Excelerate Energy in a research report on Monday, December 29th. Finally, Jefferies Financial Group set a $37.00 target price on Excelerate Energy and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Excelerate Energy presently has an average rating of “Moderate Buy” and a consensus price target of $32.25.

Excelerate Energy Price Performance

The firm has a market cap of $3.79 billion, a PE ratio of 23.11, a P/E/G ratio of 1.33 and a beta of 1.36. 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 business’s fifty day moving average is $28.13 and its 200-day moving average is $26.40.

Excelerate Energy (NYSE:EE) last released its earnings results on Wednesday, November 5th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.13. Excelerate Energy had a net margin of 3.46% and a return on equity of 4.34%. The firm had revenue of $391.04 million during the quarter, compared to the consensus estimate of $270.82 million. Excelerate Energy’s quarterly revenue was up 102.2% compared to the same quarter last year. On average, research analysts predict that Excelerate Energy, Inc. will post 1.16 earnings per share for the current fiscal year.

Excelerate Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Wednesday, November 19th were paid a $0.08 dividend. The ex-dividend date was Wednesday, November 19th. This represents a $0.32 annualized dividend and a dividend yield of 1.0%. Excelerate Energy’s payout ratio is presently 22.22%.

Excelerate Energy declared that its Board of Directors has approved a share repurchase plan on Thursday, December 11th that permits the company to buyback $75.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Excelerate Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AlphaQuest LLC bought a new position in Excelerate Energy during the second quarter worth about $30,000. State of Alaska Department of Revenue bought a new position in Excelerate Energy in the 3rd quarter worth approximately $30,000. Aster Capital Management DIFC Ltd purchased a new position in Excelerate Energy in the 3rd quarter valued at approximately $38,000. New York State Teachers Retirement System raised its holdings in Excelerate Energy by 32.8% during the 3rd quarter. New York State Teachers Retirement System now owns 2,081 shares of the company’s stock valued at $52,000 after acquiring an additional 514 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in shares of Excelerate Energy by 157.1% during the second quarter. Tower Research Capital LLC TRC now owns 1,941 shares of the company’s stock worth $57,000 after acquiring an additional 1,186 shares in the last quarter. 21.79% of the stock is currently owned by institutional investors.

Excelerate Energy Company Profile

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.