Excelerate Energy (NYSE:EE) Shares Gap Down – Here’s What Happened

Excelerate Energy, Inc. (NYSE:EE)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $31.70, but opened at $30.82. Excelerate Energy shares last traded at $28.42, with a volume of 124,797 shares.

Wall Street Analysts Forecast Growth

EE has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on Excelerate Energy from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Barclays boosted their price objective on Excelerate Energy from $22.00 to $26.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. restated an “underweight” rating and issued a $31.00 target price (up from $22.00) on shares of Excelerate Energy in a research note on Tuesday. Wells Fargo & Company upped their price target on shares of Excelerate Energy from $19.00 to $22.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Finally, Stephens raised their price objective on shares of Excelerate Energy from $28.00 to $36.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Excelerate Energy currently has an average rating of “Hold” and a consensus target price of $28.71.

Excelerate Energy Trading Down 0.5 %

The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of 29.74, a P/E/G ratio of 2.28 and a beta of 1.42. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.12 and a current ratio of 4.12. The business’s 50-day simple moving average is $29.36 and its 200-day simple moving average is $23.40.

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 return on equity of 1.39% and a net margin of 3.14%. The business had revenue of $193.42 million during the quarter, compared to the consensus estimate of $194.09 million. During the same quarter in the prior year, the company posted $0.40 earnings per share. On average, research analysts expect that Excelerate Energy, Inc. will post 1.23 earnings per share for the current fiscal year.

Excelerate Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Wednesday, November 20th were issued a $0.06 dividend. This is a positive change from Excelerate Energy’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $0.24 annualized dividend and a dividend yield of 0.82%. Excelerate Energy’s payout ratio is 24.24%.

Institutional Investors Weigh In On Excelerate Energy

Several large investors have recently modified their holdings of the business. Hotchkis & Wiley Capital Management LLC acquired a new position in Excelerate Energy during the third quarter worth $4,385,000. Algert Global LLC bought a new position in Excelerate Energy in the 2nd quarter valued at about $1,915,000. Massachusetts Financial Services Co. MA acquired a new stake in Excelerate Energy during the 2nd quarter worth approximately $1,569,000. Marshall Wace LLP boosted its position in shares of Excelerate Energy by 28.2% in the second quarter. Marshall Wace LLP now owns 338,465 shares of the company’s stock valued at $6,241,000 after acquiring an additional 74,491 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Excelerate Energy by 40.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 180,204 shares of the company’s stock valued at $3,966,000 after purchasing an additional 52,007 shares during the period. 21.79% of the stock is currently owned by institutional investors.

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.