Excelerate Energy (NYSE:EE) Hits New 12-Month High – What’s Next?

Excelerate Energy, Inc. (NYSE:EE)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $24.99 and last traded at $24.99, with a volume of 115 shares. The stock had previously closed at $24.67.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Stephens raised their price target on shares of Excelerate Energy from $21.00 to $28.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Wells Fargo & Company lowered shares of Excelerate Energy from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $20.00 to $19.00 in a research note on Friday, August 30th. Northland Securities lifted their price objective on shares of Excelerate Energy from $23.00 to $25.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. Finally, Barclays lifted their price objective on shares of Excelerate Energy from $22.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Excelerate Energy presently has an average rating of “Moderate Buy” and a consensus price target of $23.57.

Excelerate Energy Trading Down 7.6 %

The firm has a market cap of $2.61 billion, a PE ratio of 23.49 and a beta of 1.28. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 0.35. The stock’s fifty day simple moving average is $21.71 and its two-hundred day simple moving average is $19.54.

Excelerate Energy (NYSE:EE) last issued its earnings results on Wednesday, August 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.06). The firm had revenue of $183.33 million during the quarter, compared to the consensus estimate of $259.14 million. Excelerate Energy had a return on equity of 1.68% and a net margin of 3.40%. During the same quarter in the prior year, the company posted $0.23 EPS. On average, sell-side analysts forecast that Excelerate Energy, Inc. will post 1.14 EPS for the current fiscal year.

Excelerate Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Wednesday, November 20th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Wednesday, November 20th. This is an increase from Excelerate Energy’s previous quarterly dividend of $0.03. Excelerate Energy’s dividend payout ratio is currently 23.08%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC bought a new position in Excelerate Energy in the first quarter worth approximately $118,000. Susquehanna Fundamental Investments LLC bought a new position in Excelerate Energy in the first quarter worth approximately $886,000. Scout Investments Inc. raised its position in Excelerate Energy by 1.1% in the first quarter. Scout Investments Inc. now owns 253,480 shares of the company’s stock worth $4,020,000 after acquiring an additional 2,673 shares during the period. BOKF NA raised its position in Excelerate Energy by 5.8% in the first quarter. BOKF NA now owns 12,700 shares of the company’s stock worth $201,000 after acquiring an additional 700 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new position in Excelerate Energy in the first quarter worth approximately $38,000. Institutional investors own 21.79% of the company’s stock.

Excelerate Energy Company Profile

Excelerate Energy, Inc provides flexible liquefied natural gas (LNG) solutions worldwide. The company offers regasification services, including floating storage and regasification units (FSRUs), infrastructure development, and LNG and natural gas supply, procurement, and distribution services; LNG terminal services; and natural gas supply to-power projects.