Excelerate Energy, Inc. (NYSE:EE) Receives $31.71 Consensus Price Target from Analysts

Excelerate Energy, Inc. (NYSE:EE) has earned an average rating of “Moderate Buy” from the ten ratings firms that are covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $32.25.

Several research firms have recently weighed in on EE. Raymond James Financial raised shares of Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 price objective for the company in a report on Monday. Jefferies Financial Group set a $37.00 price objective on Excelerate Energy and gave the company a “buy” rating in a research report on Tuesday, October 28th. Weiss Ratings restated a “hold (c)” rating on shares of Excelerate Energy in a report on Monday, December 29th. DNB Markets set a $31.00 price target on Excelerate Energy in a report on Wednesday, September 10th. Finally, Morgan Stanley set a $30.00 price objective on shares of Excelerate Energy and gave the stock an “equal weight” rating in a report on Thursday, November 6th.

Excelerate Energy Stock Down 2.7%

Shares of NYSE EE opened at $28.21 on Wednesday. Excelerate Energy has a 52-week low of $21.28 and a 52-week high of $32.99. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.39 and a current ratio of 2.39. The business has a fifty day moving average of $27.35 and a two-hundred day moving average of $26.26. The stock has a market cap of $3.22 billion, a PE ratio of 19.59, a PEG ratio of 1.16 and a beta of 1.36.

Excelerate Energy (NYSE:EE) last announced its earnings results on Wednesday, November 5th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.13. The business had revenue of $391.04 million during the quarter, compared to analysts’ expectations of $270.82 million. Excelerate Energy had a net margin of 3.46% and a return on equity of 4.34%. The company’s revenue for the quarter was up 102.2% compared to the same quarter last year. As a group, equities research analysts expect that Excelerate Energy will post 1.16 earnings per share for the current fiscal year.

Excelerate Energy declared that its board has authorized a stock repurchase program on Thursday, December 11th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the company to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Excelerate Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Wednesday, November 19th were issued a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, November 19th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.1%. Excelerate Energy’s dividend payout ratio (DPR) is currently 22.22%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of EE. Fortress Investment Group LLC acquired a new position in shares of Excelerate Energy during the second quarter valued at $3,130,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Excelerate Energy in the 2nd quarter valued at about $519,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Excelerate Energy during the 1st quarter worth approximately $2,886,000. Hillsdale Investment Management Inc. raised its stake in shares of Excelerate Energy by 32.9% during the second quarter. Hillsdale Investment Management Inc. now owns 171,700 shares of the company’s stock worth $5,034,000 after buying an additional 42,500 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Excelerate Energy by 157.3% in the second quarter. JPMorgan Chase & Co. now owns 297,182 shares of the company’s stock valued at $8,713,000 after buying an additional 181,689 shares during the period. 21.79% of the stock is currently owned by institutional investors.

About Excelerate Energy

Excelerate Energy (NYSE: EE) is a Houston‐based energy infrastructure company specializing in liquefied natural gas (LNG) solutions. The company develops, owns and operates floating regasification units (FSRUs) that convert shipped LNG into natural gas for delivery into existing pipeline networks. Excelerate Energy’s integrated platform also includes specialized LNG carriers, proprietary regasification technology and on‐shore support facilities, enabling rapid deployment of import terminals without extensive capital construction.

Founded in the early 2000s, Excelerate Energy pioneered the first FSRU in 2007, demonstrating the flexibility and cost advantages of floating LNG import infrastructure.