Excelerate Energy, Inc. (NYSE:EE) Receives $40.64 Consensus Target Price from Brokerages

Excelerate Energy, Inc. (NYSE:EE) has received an average rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $40.6364.

Several equities analysts have weighed in on EE shares. Morgan Stanley lowered their target price on Excelerate Energy from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 21st. Zacks Research raised shares of Excelerate Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 14th. Wells Fargo & Company decreased their price target on shares of Excelerate Energy from $39.00 to $37.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. Northland Securities set a $48.00 price objective on shares of Excelerate Energy in a research report on Friday, May 15th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Excelerate Energy in a research note on Wednesday, June 24th.

Institutional Trading of Excelerate Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP boosted its position 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 purchasing an additional 719,148 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Excelerate Energy by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 2,405,120 shares of the company’s stock worth $67,464,000 after purchasing an additional 11,731 shares during the last quarter. Copeland Capital Management LLC raised its holdings in Excelerate Energy by 45.0% during the first quarter. Copeland Capital Management LLC now owns 1,584,618 shares of the company’s stock valued at $52,958,000 after buying an additional 491,653 shares in the last quarter. TimesSquare Capital Management LLC raised its stake in shares of Excelerate Energy by 2.8% in the 4th quarter. TimesSquare Capital Management LLC now owns 949,723 shares of the company’s stock valued at $26,640,000 after acquiring an additional 25,600 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Excelerate Energy by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 634,272 shares of the company’s stock worth $17,794,000 after purchasing an additional 13,761 shares during the last quarter. 21.79% of the stock is currently owned by hedge funds and other institutional investors.

Excelerate Energy Stock Performance

Shares of Excelerate Energy stock opened at $39.49 on Friday. Excelerate Energy has a 12 month low of $21.28 and a 12 month high of $43.17. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.53. The stock has a market cap of $4.50 billion, a PE ratio of 32.10, a price-to-earnings-growth ratio of 1.41 and a beta of 1.23. The business has a fifty day simple moving average of $36.00 and a 200-day simple moving average of $35.51.

Excelerate Energy (NYSE:EE) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). The business had revenue of $433.44 million for the quarter, compared to analyst estimates of $351.68 million. Excelerate Energy had a net margin of 2.98% and a return on equity of 3.85%. The firm’s quarterly revenue was up 37.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.49 earnings per share. On average, sell-side analysts anticipate that Excelerate Energy will post 1.52 EPS for the current fiscal year.

Excelerate Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Wednesday, May 20th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Wednesday, May 20th. Excelerate Energy’s payout ratio is currently 26.02%.

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.