Excelerate Energy (NYSE:EE) Stock Price Up 5.3% – Here’s Why

Excelerate Energy, Inc. (NYSE:EE)’s share price traded up 5.3% during mid-day trading on Thursday . The stock traded as high as $36.14 and last traded at $35.9460. 67,446 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 455,070 shares. The stock had previously closed at $34.14.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EE. Jefferies Financial Group lifted their target price on Excelerate Energy from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Wells Fargo & Company upped their target price on Excelerate Energy from $29.00 to $39.00 and gave the company an “equal weight” rating in a report on Friday, February 27th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $44.00 price target on shares of Excelerate Energy in a research note on Friday, February 6th. Raymond James Financial upgraded Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 price objective on the stock in a report on Monday, January 5th. Finally, Morgan Stanley upped their price objective on shares of Excelerate Energy from $30.00 to $40.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 24th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $39.00.

Excelerate Energy Stock Down 5.5%

The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $3.76 billion, a PE ratio of 24.98, a price-to-earnings-growth ratio of 1.10 and a beta of 1.34. The business’s 50-day moving average price is $37.05 and its 200-day moving average price is $30.21.

Excelerate Energy (NYSE:EE) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The company had revenue of $317.57 million for the quarter, compared to analysts’ expectations of $293.49 million. Excelerate Energy had a net margin of 3.19% and a return on equity of 4.12%. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.40 earnings per share. As a group, equities research analysts predict that Excelerate Energy, Inc. will post 1.16 EPS for the current fiscal year.

Excelerate Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, March 11th. Excelerate Energy’s payout ratio is currently 24.24%.

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

Institutional Trading of Excelerate Energy

A number of institutional investors have recently bought and sold shares of the company. 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. Vanguard Group Inc. lifted its holdings in shares of Excelerate Energy by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 2,405,120 shares of the company’s stock valued at $67,464,000 after buying an additional 11,731 shares during the last quarter. Copeland Capital Management LLC bought a new stake in shares of Excelerate Energy in the 4th quarter valued at approximately $30,658,000. TimesSquare Capital Management LLC grew its stake in shares of Excelerate Energy by 2.8% in the 4th quarter. TimesSquare Capital Management LLC now owns 949,723 shares of the company’s stock valued at $26,640,000 after buying an additional 25,600 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP increased its holdings in Excelerate Energy by 77.3% in the third quarter. Kayne Anderson Capital Advisors LP now owns 781,623 shares of the company’s stock worth $19,689,000 after buying an additional 340,747 shares during the last quarter. Institutional investors and hedge funds own 21.79% of the company’s stock.

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.