Excelerate Energy (NYSE:EE) Hits New 1-Year High – Here’s Why

Excelerate Energy, Inc. (NYSE:EE)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $43.07 and last traded at $42.8940, with a volume of 13727 shares traded. The stock had previously closed at $42.38.

Wall Street Analysts Forecast Growth

EE has been the subject of a number of research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Excelerate Energy in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $44.00 target price on shares of Excelerate Energy in a research report on Friday, February 6th. Jefferies Financial Group increased their price target on Excelerate Energy from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Dnb Carnegie downgraded Excelerate Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 19th. Finally, Tudor Pickering raised Excelerate Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 17th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Excelerate Energy currently has a consensus rating of “Moderate Buy” and an average target price of $36.50.

Excelerate Energy Stock Down 0.3%

The firm has a market capitalization of $4.82 billion, a price-to-earnings ratio of 29.42, a P/E/G ratio of 1.34 and a beta of 1.36. The stock has a fifty day moving average of $33.60 and a two-hundred day moving average of $28.57. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.39 and a quick ratio of 2.39.

Excelerate Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Wednesday, March 11th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $0.32 dividend on an annualized basis and a yield of 0.8%. Excelerate Energy’s dividend payout ratio is 22.22%.

Excelerate Energy announced that its Board of Directors has approved a share buyback plan on Thursday, December 11th that permits the company to buyback $75.00 million in outstanding shares. This buyback authorization permits the company to buy up to 2.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Institutional Trading of Excelerate Energy

Several large investors have recently modified their holdings of EE. Arax Advisory Partners lifted its holdings in shares of Excelerate Energy by 791.9% in the fourth quarter. Arax Advisory Partners now owns 883 shares of the company’s stock valued at $25,000 after purchasing an additional 784 shares in the last quarter. AlphaQuest LLC purchased a new position in Excelerate Energy in the second quarter valued at about $30,000. State of Alaska Department of Revenue bought a new position in Excelerate Energy during the third quarter valued at $30,000. Global Retirement Partners LLC bought a new stake in Excelerate Energy in the 4th quarter valued at about $33,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Excelerate Energy during the 3rd quarter valued at approximately $38,000. Institutional investors and hedge funds own 21.79% of the company’s stock.

Excelerate Energy Company Profile

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.