Excelerate Energy, Inc. (NYSE:EE) Declares Quarterly Dividend of $0.03

Excelerate Energy, Inc. (NYSE:EEGet Rating) announced a quarterly dividend on Friday, August 5th, Zacks reports. Stockholders of record on Friday, August 19th will be paid a dividend of 0.025 per share on Wednesday, September 7th. This represents a $0.10 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Thursday, August 18th.

Excelerate Energy has a payout ratio of 9.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Excelerate Energy to earn $1.08 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 9.3%.

Excelerate Energy Stock Performance

Shares of NYSE EE opened at 25.32 on Tuesday. The firm’s 50 day moving average price is 22.59. The company has a quick ratio of 2.13, a current ratio of 2.35 and a debt-to-equity ratio of 0.38. Excelerate Energy has a 52-week low of 18.31 and a 52-week high of 30.82.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wells Fargo & Company upgraded shares of Excelerate Energy from an “equal weight” rating to an “overweight” rating and set a $29.00 price objective for the company in a report on Tuesday, July 5th. Barclays boosted their price objective on shares of Excelerate Energy to $30.00 in a report on Monday. Morgan Stanley lifted their price target on shares of Excelerate Energy from $31.00 to $32.00 and gave the company an “equal weight” rating in a research note on Thursday, May 26th. Raymond James initiated coverage on shares of Excelerate Energy in a research note on Monday, May 9th. They issued an “outperform” rating and a $30.00 price target on the stock. Finally, Sumitomo Mitsui Financial Group initiated coverage on shares of Excelerate Energy in a research note on Monday, May 9th. They issued an “outperform” rating and a $32.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Excelerate Energy currently has an average rating of “Moderate Buy” and a consensus price target of 31.50.

Institutional Trading of Excelerate Energy

A number of institutional investors have recently made changes to their positions in the business. American International Group Inc. acquired a new position in Excelerate Energy during the second quarter worth $173,000. Renaissance Technologies LLC acquired a new position in Excelerate Energy during the second quarter worth $365,000. Point72 Asset Management L.P. acquired a new position in Excelerate Energy during the second quarter worth $498,000. JPMorgan Chase & Co. acquired a new position in Excelerate Energy during the second quarter worth $721,000. Finally, Rhumbline Advisers acquired a new position in shares of Excelerate Energy in the second quarter valued at $882,000.

Excelerate Energy Company Profile

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

Further Reading

Dividend History for Excelerate Energy (NYSE:EE)

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