Excelerate Energy (NYSE:EE) Hits New 52-Week High – What’s Next?

Shares of Excelerate Energy, Inc. (NYSE:EE) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $34.85 and last traded at $34.4360, with a volume of 569450 shares changing hands. The stock had previously closed at $33.27.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Jefferies Financial Group boosted their price objective on Excelerate Energy from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday. Morgan Stanley set a $30.00 price target on shares of Excelerate Energy and gave the company an “equal weight” rating in a research report on Thursday, November 6th. Raymond James Financial upgraded shares of Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 price objective for the company in a research report on Monday, January 5th. Wall Street Zen raised shares of Excelerate Energy from a “hold” rating to a “buy” rating in a research note on Sunday, January 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Excelerate Energy in a research note on Monday, December 29th. 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.63.

Excelerate Energy Price Performance

The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 0.56. The company has a market cap of $4.11 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 1.40 and a beta of 1.36. The stock’s 50-day simple moving average is $28.85 and its 200 day simple moving average is $26.61.

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

Excelerate Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Wednesday, November 19th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Wednesday, November 19th. Excelerate Energy’s dividend payout ratio (DPR) is currently 22.22%.

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

Hedge Funds Weigh In On Excelerate Energy

Several hedge funds have recently bought and sold shares of the company. AlphaQuest LLC acquired a new position in Excelerate Energy in the 2nd quarter valued at about $30,000. State of Alaska Department of Revenue purchased a new position in shares of Excelerate Energy in the third quarter valued at approximately $30,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Excelerate Energy in the third quarter valued at approximately $38,000. Tower Research Capital LLC TRC increased its stake in Excelerate Energy by 157.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,941 shares of the company’s stock worth $57,000 after buying an additional 1,186 shares during the period. Finally, New York State Teachers Retirement System lifted 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 worth $52,000 after buying an additional 514 shares in the last quarter. Institutional investors and hedge funds 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.