Brokerages Set Excelerate Energy, Inc. (NYSE:EE) Target Price at $40.73

Excelerate Energy, Inc. (NYSE:EE) has received a consensus rating of “Moderate Buy” from the thirteen research firms that are currently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and three have given a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $43.00.

Several research analysts have weighed in on the company. Jefferies Financial Group reiterated a “buy” rating and issued a $48.00 price target on shares of Excelerate Energy in a report on Friday, July 10th. Stephens restated an “overweight” rating and set a $45.00 price objective on shares of Excelerate Energy in a report on Thursday, July 9th. Weiss Ratings upgraded Excelerate Energy from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, September 3rd. The Goldman Sachs Group assumed coverage on Excelerate Energy in a research report on Wednesday, July 15th. They issued a “buy” rating and a $49.00 price objective for the company. Finally, Wells Fargo & Company upped their target price on Excelerate Energy from $37.00 to $38.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 12th.

Institutional Investors Weigh In On Excelerate Energy

Several hedge funds have recently modified their holdings of EE. Martingale Asset Management L P increased its position in Excelerate Energy by 0.4% during the fourth quarter. Martingale Asset Management L P now owns 74,192 shares of the company’s stock worth $2,081,000 after purchasing an additional 281 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Excelerate Energy by 0.3% during the 1st quarter. Bank of New York Mellon Corp now owns 195,532 shares of the company’s stock worth $6,535,000 after buying an additional 633 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Excelerate Energy by 3.6% during the 2nd quarter. Legal & General Group Plc now owns 19,317 shares of the company’s stock worth $566,000 after buying an additional 670 shares during the last quarter. Quantinno Capital Management LP increased its holdings in shares of Excelerate Energy by 6.7% during the 1st quarter. Quantinno Capital Management LP now owns 11,025 shares of the company’s stock worth $368,000 after buying an additional 690 shares during the last quarter. Finally, Arax Advisory Partners raised its position in shares of Excelerate Energy by 791.9% in the 4th quarter. Arax Advisory Partners now owns 883 shares of the company’s stock worth $25,000 after buying an additional 784 shares during the period. 21.79% of the stock is owned by institutional investors and hedge funds.

Excelerate Energy Trading Down 0.7%

Shares of EE stock opened at $38.34 on Monday. The company has a market capitalization of $4.35 billion, a price-to-earnings ratio of 26.44 and a beta of 1.22. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average price of $38.50 and a 200 day moving average price of $36.31. Excelerate Energy has a twelve month low of $23.55 and a twelve month high of $43.17.

Excelerate Energy (NYSE:EE) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $329.27 million during the quarter, compared to the consensus estimate of $344.27 million. Excelerate Energy had a net margin of 3.23% and a return on equity of 2.24%. The company’s quarterly revenue was up 60.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 earnings per share. Research analysts forecast that Excelerate Energy will post 1.57 earnings per share for the current fiscal year.

Excelerate Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Wednesday, August 19th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.9%. This is an increase from Excelerate Energy’s previous quarterly dividend of $0.08. Excelerate Energy’s dividend payout ratio is currently 24.83%.

Excelerate Energy Company Profile

Excelerate Energy, Inc is an integrated liquefied natural gas (LNG) company that provides flexible LNG delivery and regasification solutions. The company specializes in floating storage and regasification units (FSRUs), which receive, store and convert LNG into natural gas for delivery into pipeline networks.

Its services include LNG procurement and transportation, FSRU operations, regasification, terminal management and related infrastructure development. Excelerate also develops and operates offshore and nearshore LNG import facilities designed to help customers access natural gas without relying solely on large, land-based terminals.

Founded in 2003, Excelerate has supported LNG import and energy-infrastructure projects in markets including Bangladesh, Brazil, Argentina, Finland and other regions.