Excelerate Energy (NYSE:EE) Given New $22.00 Price Target at Wells Fargo & Company

Excelerate Energy (NYSE:EE) had its price target upped by Wells Fargo & Company from $19.00 to $22.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has an underweight rating on the stock.

A number of other brokerages have also commented on EE. Stephens boosted their price target on Excelerate Energy from $21.00 to $28.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Barclays upped their price target on Excelerate Energy from $22.00 to $26.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Finally, Northland Securities lifted their price target on shares of Excelerate Energy from $25.00 to $29.00 and gave the company an “outperform” rating in a research note on Monday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.57.

Excelerate Energy Price Performance

Shares of EE opened at $27.96 on Tuesday. The stock has a market cap of $2.99 billion, a P/E ratio of 28.24 and a beta of 1.28. Excelerate Energy has a 1 year low of $13.38 and a 1 year high of $28.60. The stock’s 50-day moving average price is $22.17 and its two-hundred day moving average price is $19.75. The company has a current ratio of 4.12, a quick ratio of 4.12 and a debt-to-equity ratio of 0.34.

Excelerate Energy (NYSE:EE) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Excelerate Energy had a net margin of 3.14% and a return on equity of 1.39%. The business had revenue of $193.42 million during the quarter, compared to analysts’ expectations of $194.09 million. During the same quarter in the prior year, the company earned $0.40 EPS. On average, equities analysts predict that Excelerate Energy will post 1.18 earnings per share for the current year.

Excelerate Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Wednesday, November 20th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Wednesday, November 20th. This is a boost from Excelerate Energy’s previous quarterly dividend of $0.03. Excelerate Energy’s payout ratio is presently 10.10%.

Institutional Investors Weigh In On Excelerate Energy

Institutional investors have recently made changes to their positions in the stock. nVerses Capital LLC acquired a new stake in Excelerate Energy during the second quarter worth about $26,000. Public Employees Retirement System of Ohio bought a new position in shares of Excelerate Energy in the 1st quarter valued at $38,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Excelerate Energy during the 1st quarter worth $118,000. US Bancorp DE bought a new stake in shares of Excelerate Energy during the 3rd quarter worth $130,000. Finally, SG Americas Securities LLC acquired a new stake in Excelerate Energy in the third quarter valued at about $161,000. 21.79% of the stock is currently owned by institutional investors.

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.