Analysts Set Excelerate Energy, Inc. (NYSE:EE) Target Price at $39.00

Shares of Excelerate Energy, Inc. (NYSE:EE) have earned an average rating of “Moderate Buy” from the eleven brokerages that are covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $39.00.

EE has been the topic of a number of research analyst reports. Morgan Stanley upped their price target on shares of Excelerate Energy from $30.00 to $40.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 24th. Wells Fargo & Company lifted their price objective on Excelerate Energy from $29.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Friday, February 27th. Raymond James Financial raised Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 price objective on the stock in a research note on Monday, January 5th. Barclays upped their target price on Excelerate Energy from $33.00 to $41.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. Finally, Jefferies Financial Group raised their target price on Excelerate Energy from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of EE. KLP Kapitalforvaltning AS boosted its position in shares of Excelerate Energy by 645.2% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 69,300 shares of the company’s stock worth $1,746,000 after purchasing an additional 60,000 shares in the last quarter. Principal Financial Group Inc. increased its position in Excelerate Energy by 153.5% in the 3rd quarter. Principal Financial Group Inc. now owns 41,518 shares of the company’s stock valued at $1,046,000 after buying an additional 25,139 shares in the last quarter. Knights of Columbus Asset Advisors LLC bought a new stake in Excelerate Energy in the 3rd quarter valued at about $1,845,000. Fortress Investment Group LLC acquired a new position in Excelerate Energy during the 2nd quarter worth approximately $3,130,000. Finally, JPMorgan Chase & Co. boosted its holdings in Excelerate Energy by 37.3% in the third quarter. JPMorgan Chase & Co. now owns 408,152 shares of the company’s stock worth $10,281,000 after acquiring an additional 110,970 shares in the last quarter. Institutional investors and hedge funds own 21.79% of the company’s stock.

Excelerate Energy Stock Performance

Shares of EE stock opened at $34.05 on Monday. The business’s 50 day simple moving average is $36.89 and its 200 day simple moving average is $30.12. Excelerate Energy has a one year low of $21.28 and a one year high of $43.17. The stock has a market capitalization of $3.88 billion, a PE ratio of 25.79, a PEG ratio of 1.09 and a beta of 1.34. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.43 and a quick ratio of 2.43.

Excelerate Energy (NYSE:EE) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). The firm had revenue of $317.57 million for the quarter, compared to the consensus estimate of $293.49 million. Excelerate Energy had a return on equity of 4.12% and a net margin of 3.19%.The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.40 EPS. As a group, research analysts forecast that Excelerate Energy will post 1.16 earnings per share for the current year.

Excelerate Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $0.32 annualized dividend and a dividend yield of 0.9%. Excelerate Energy’s dividend payout ratio (DPR) is 24.24%.

Excelerate Energy announced that its Board of Directors has approved a stock repurchase program on Thursday, December 11th that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the company to buy up to 2.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

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.