Excelerate Energy (NYSE:EE) Given New $20.00 Price Target at Wells Fargo & Company

Excelerate Energy (NYSE:EE) had its target price lifted by Wells Fargo & Company from $19.00 to $20.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Separately, Stephens reissued an overweight rating and issued a $21.00 price objective on shares of Excelerate Energy in a research report on Tuesday, July 9th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $21.83.

Excelerate Energy Stock Performance

Excelerate Energy stock traded down $0.43 during trading hours on Friday, reaching $18.57. 107,120 shares of the company were exchanged, compared to its average volume of 213,267. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 18.39 and a beta of 1.31. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average of $18.48 and a 200 day moving average of $16.86. Excelerate Energy has a 12 month low of $13.38 and a 12 month high of $21.24.

Excelerate Energy (NYSE:EE) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.06). Excelerate Energy had a net margin of 2.60% and a return on equity of 1.66%. The business had revenue of $183.33 million during the quarter, compared to the consensus estimate of $259.14 million. During the same period in the prior year, the company posted $0.23 earnings per share. As a group, research analysts anticipate that Excelerate Energy will post 1.28 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, September 5th. Shareholders of record on Wednesday, August 21st will be paid a dividend of $0.025 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $0.10 annualized dividend and a yield of 0.54%. Excelerate Energy’s dividend payout ratio is currently 9.90%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Ranger Investment Management L.P. raised its stake in Excelerate Energy by 0.5% during the fourth quarter. Ranger Investment Management L.P. now owns 1,609,580 shares of the company’s stock worth $24,884,000 after acquiring an additional 7,815 shares in the last quarter. Tortoise Capital Advisors L.L.C. grew its holdings in shares of Excelerate Energy by 10.1% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 814,090 shares of the company’s stock worth $15,012,000 after purchasing an additional 74,946 shares during the last quarter. Scout Investments Inc. grew its holdings in shares of Excelerate Energy by 1.1% during the first quarter. Scout Investments Inc. now owns 253,480 shares of the company’s stock worth $4,020,000 after purchasing an additional 2,673 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Excelerate Energy by 7.9% during the second quarter. Renaissance Technologies LLC now owns 249,282 shares of the company’s stock worth $4,597,000 after purchasing an additional 18,282 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Excelerate Energy by 13.3% during the second quarter. Dimensional Fund Advisors LP now owns 176,334 shares of the company’s stock worth $3,252,000 after purchasing an additional 20,661 shares during the last quarter. 21.79% of the stock is currently owned by institutional investors and hedge funds.

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.