Excelerate Energy (NYSE:EE) Price Target Raised to $39.00

Excelerate Energy (NYSE:EE) had its price objective boosted by Wells Fargo & Company from $29.00 to $39.00 in a report published on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $44.00 price objective on shares of Excelerate Energy in a research report on Friday, February 6th. Northland Securities set a $50.00 price target on Excelerate Energy in a report on Friday, January 30th. Jefferies Financial Group increased their price objective on Excelerate Energy from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Raymond James Financial raised shares of Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 price objective on the stock in a research report on Monday, January 5th. Finally, Tudor Pickering raised shares of Excelerate Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 17th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $38.44.

Excelerate Energy Stock Performance

Shares of EE opened at $40.32 on Friday. The company has a market capitalization of $4.60 billion, a PE ratio of 30.55, a PEG ratio of 1.25 and a beta of 1.34. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.39 and a current ratio of 2.43. The company’s 50 day moving average price is $34.79 and its 200 day moving average price is $29.06. Excelerate Energy has a 52 week low of $21.28 and a 52 week high of $43.07.

Excelerate Energy (NYSE:EE) last released its earnings results on Wednesday, February 25th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $293.49 million. During the same quarter in the previous year, the company earned $0.40 EPS. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. Research analysts expect that Excelerate Energy will post 1.16 EPS for the current fiscal year.

Excelerate Energy declared that its Board of Directors has approved a stock repurchase plan on Thursday, December 11th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Excelerate Energy Dividend Announcement

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

Institutional Trading of Excelerate Energy

Several large investors have recently modified their holdings of EE. Copeland Capital Management LLC acquired a new position in Excelerate Energy in the 4th quarter valued at $30,658,000. Wellington Management Group LLP boosted its holdings in Excelerate Energy by 24.9% during the fourth quarter. Wellington Management Group LLP now owns 3,607,182 shares of the company’s stock valued at $101,181,000 after acquiring an additional 719,148 shares during the period. Kayne Anderson Capital Advisors LP bought a new stake in Excelerate Energy during the second quarter valued at about $12,926,000. Qube Research & Technologies Ltd grew its position in shares of Excelerate Energy by 328.4% in the second quarter. Qube Research & Technologies Ltd now owns 453,345 shares of the company’s stock valued at $13,292,000 after purchasing an additional 347,521 shares during the last quarter. Finally, Squarepoint Ops LLC grew its position in shares of Excelerate Energy by 219.5% in the third quarter. Squarepoint Ops LLC now owns 348,394 shares of the company’s stock valued at $8,776,000 after purchasing an additional 239,358 shares during the last quarter. 21.79% of the stock is owned by institutional investors.

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.