Excelerate Energy (NYSE:EE) Reaches New 1-Year High Following Analyst Upgrade

Excelerate Energy, Inc. (NYSE:EE) shares reached a new 52-week high on Tuesday after Barclays raised their price target on the stock from $33.00 to $41.00. Barclays currently has an overweight rating on the stock. Excelerate Energy traded as high as $43.18 and last traded at $40.2150, with a volume of 59971 shares traded. The stock had previously closed at $41.99.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings restated a “hold (c)” rating on shares of Excelerate Energy in a research note on Monday, December 29th. Wells Fargo & Company increased their price objective on Excelerate Energy from $29.00 to $39.00 and gave the stock an “equal weight” rating in a report on Friday, February 27th. Wall Street Zen downgraded Excelerate Energy from a “buy” rating to a “hold” rating in a research note on Saturday. Morgan Stanley boosted their price target on Excelerate Energy from $30.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 24th. Finally, Northland Securities set a $50.00 price target on Excelerate Energy in a research note on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $39.00.

Institutional Trading of Excelerate Energy

Several institutional investors have recently made changes to their positions in EE. XTX Topco Ltd acquired a new position in Excelerate Energy in the fourth quarter worth about $1,290,000. Wellington Management Group LLP grew its stake in shares of Excelerate Energy by 24.9% in the 4th quarter. Wellington Management Group LLP now owns 3,607,182 shares of the company’s stock valued at $101,181,000 after purchasing an additional 719,148 shares during the period. Susquehanna Portfolio Strategies LLC acquired a new position in shares of Excelerate Energy in the 4th quarter worth approximately $1,853,000. Man Group plc acquired a new position in shares of Excelerate Energy in the 4th quarter worth approximately $661,000. Finally, Boothbay Fund Management LLC lifted its position in shares of Excelerate Energy by 42.0% during the 4th quarter. Boothbay Fund Management LLC now owns 136,026 shares of the company’s stock worth $3,816,000 after buying an additional 40,254 shares during the period. 21.79% of the stock is currently owned by institutional investors and hedge funds.

Excelerate Energy Trading Down 4.0%

The company has a 50 day moving average of $35.32 and a 200 day moving average of $29.30. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 30.55, a price-to-earnings-growth ratio of 1.31 and a beta of 1.34. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.54.

Excelerate Energy (NYSE:EE) last issued its quarterly earnings data 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 net margin of 3.19% and a return on equity of 4.12%. The company had revenue of $317.57 million for the quarter, compared to the consensus estimate of $293.49 million. During the same period in the previous year, the business posted $0.40 earnings per share. The firm’s revenue was up 15.6% compared to the same quarter last year. As a group, research analysts anticipate that Excelerate Energy, Inc. will post 1.16 EPS for the current year.

Excelerate Energy Announces Dividend

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

Excelerate Energy announced that its board has authorized a stock buyback program on Thursday, December 11th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

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.