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

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EE. Northland Securities increased their price objective on shares of Excelerate Energy from $23.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. Wells Fargo & Company cut shares of Excelerate Energy from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $20.00 to $19.00 in a research note on Friday, August 30th. Stephens increased their price objective 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. Finally, Barclays increased their price objective on shares of Excelerate Energy from $22.00 to $26.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.57.

Excelerate Energy Stock Performance

The business’s 50-day moving average price is $21.71 and its 200-day moving average price is $19.54. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.35. The stock has a market cap of $2.61 billion, a PE ratio of 23.49 and a beta of 1.28.

Excelerate Energy (NYSE:EE) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). Excelerate Energy had a return on equity of 1.68% and a net margin of 3.40%. The firm had revenue of $183.33 million during the quarter, compared to analysts’ expectations of $259.14 million. During the same period in the previous year, the firm earned $0.23 EPS. As a group, equities research analysts expect that Excelerate Energy, Inc. will post 1.14 earnings per share for the current fiscal year.

Excelerate Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Wednesday, November 20th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a 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 payout ratio is currently 23.08%.

Institutional Trading of Excelerate Energy

Several institutional investors and hedge funds have recently bought and sold shares of EE. nVerses Capital LLC acquired a new position in shares of Excelerate Energy in the 2nd quarter valued at $26,000. Public Employees Retirement System of Ohio acquired a new position in shares of Excelerate Energy in the 1st quarter valued at $38,000. US Bancorp DE acquired a new position in shares of Excelerate Energy in the 3rd quarter valued at $130,000. SG Americas Securities LLC acquired a new position in shares of Excelerate Energy in the 3rd quarter valued at $161,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in Excelerate Energy during the first quarter worth $118,000. 21.79% of the stock is currently owned by institutional investors and hedge funds.

About Excelerate Energy

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.