Excelerate Energy (NYSE:EE) Price Target Raised to $39.00 at Wells Fargo & Company

Excelerate Energy (NYSE:EE) had its target price lifted by Wells Fargo & Company from $29.00 to $39.00 in a report published on Friday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other equities analysts have also recently weighed in on EE. Jefferies Financial Group raised their price target on Excelerate Energy from $37.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Morgan Stanley raised their target price on shares of Excelerate Energy from $30.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Dnb Carnegie downgraded shares of Excelerate Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 19th. Raymond James Financial raised Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 price target on the stock in a research report on Monday, January 5th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Excelerate Energy in a research report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.44.

Excelerate Energy Trading Up 2.0%

Excelerate Energy stock traded up $0.80 during trading hours on Friday, reaching $40.32. The stock had a trading volume of 1,154,199 shares, compared to its average volume of 372,282. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.39 and a quick ratio of 2.39. The company has a fifty day simple moving average of $34.79 and a 200-day simple moving average of $28.99. The stock has a market cap of $4.60 billion, a PE ratio of 30.55, a PEG ratio of 1.23 and a beta of 1.36. Excelerate Energy has a 52 week low of $21.28 and a 52 week high of $43.07.

Excelerate Energy (NYSE:EE) last released its earnings results on Wednesday, February 25th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). Excelerate Energy had a net margin of 3.19% and a return on equity of 4.18%. The business had revenue of $317.57 million for the quarter, compared to analysts’ expectations of $293.49 million. During the same quarter in the previous year, the business posted $0.40 earnings per share. Excelerate Energy’s revenue for the quarter was up 15.6% on a year-over-year basis. Analysts forecast that Excelerate Energy will post 1.16 EPS for the current fiscal year.

Excelerate Energy declared that its board has authorized a share repurchase plan on Thursday, December 11th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally an indication 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 will be paid on Thursday, March 26th. Investors of record on Wednesday, March 11th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.8%. The ex-dividend date is Wednesday, March 11th. Excelerate Energy’s payout ratio is 24.24%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EE. Copeland Capital Management LLC acquired a new position in Excelerate Energy during the 4th quarter valued at about $30,658,000. Wellington Management Group LLP increased its position in Excelerate Energy by 24.9% in the 4th quarter. Wellington Management Group LLP now owns 3,607,182 shares of the company’s stock worth $101,181,000 after purchasing an additional 719,148 shares during the last quarter. Kayne Anderson Capital Advisors LP bought a new position in shares of Excelerate Energy during the 2nd quarter valued at $12,926,000. Qube Research & Technologies Ltd boosted its stake in shares of Excelerate Energy by 328.4% during the 2nd quarter. Qube Research & Technologies Ltd now owns 453,345 shares of the company’s stock worth $13,292,000 after acquiring an additional 347,521 shares in the last quarter. Finally, Squarepoint Ops LLC grew its holdings in Excelerate Energy by 219.5% during the third quarter. Squarepoint Ops LLC now owns 348,394 shares of the company’s stock valued at $8,776,000 after purchasing an additional 239,358 shares during the last quarter. 21.79% of the stock is currently owned by institutional investors and hedge funds.

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.