Brokerages Set Excelerate Energy, Inc. (NYSE:EE) Target Price at $40.73

Excelerate Energy, Inc. (NYSE:EE) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation, five have given a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $43.00.

A number of research analysts recently weighed in on EE shares. Morgan Stanley set a $41.00 price target on Excelerate Energy in a research note on Friday, August 7th. Citigroup reiterated an “outperform” rating on shares of Excelerate Energy in a report on Wednesday, August 12th. Barclays lifted their target price on Excelerate Energy from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. The Goldman Sachs Group started coverage on shares of Excelerate Energy in a report on Wednesday, July 15th. They issued a “buy” rating and a $49.00 price target on the stock. Finally, Wells Fargo & Company upped their price objective on shares of Excelerate Energy from $37.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, August 12th.

Excelerate Energy Stock Up 0.2%

Shares of NYSE EE opened at $39.38 on Monday. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.52. The firm has a market cap of $4.47 billion, a PE ratio of 27.16 and a beta of 1.22. The company’s fifty day simple moving average is $38.48 and its 200 day simple moving average is $36.32. Excelerate Energy has a 12-month low of $23.19 and a 12-month high of $43.17.

Excelerate Energy (NYSE:EE) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. The firm had revenue of $329.27 million during the quarter, compared to the consensus estimate of $344.27 million. Excelerate Energy had a net margin of 3.23% and a return on equity of 2.24%. The business’s revenue was up 60.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 earnings per share. As a group, sell-side analysts forecast that Excelerate Energy will post 1.57 earnings per share for the current fiscal year.

Excelerate Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Wednesday, August 19th were given a dividend of $0.09 per share. This is a boost from Excelerate Energy’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Wednesday, August 19th. Excelerate Energy’s dividend payout ratio (DPR) is currently 24.83%.

Institutional Investors Weigh In On Excelerate Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. UBS Group AG raised its holdings in shares of Excelerate Energy by 79.0% in the 4th quarter. UBS Group AG now owns 416,082 shares of the company’s stock valued at $11,671,000 after acquiring an additional 183,664 shares in the last quarter. Ranger Investment Management L.P. bought a new stake in shares of Excelerate Energy in the 2nd quarter valued at about $34,658,000. NFJ Investment Group LLC purchased a new stake in Excelerate Energy during the 4th quarter valued at about $2,590,000. Renaissance Technologies LLC boosted its holdings in Excelerate Energy by 132.9% during the 1st quarter. Renaissance Technologies LLC now owns 285,519 shares of the company’s stock valued at $9,542,000 after acquiring an additional 162,919 shares during the period. Finally, Empowered Funds LLC bought a new position in Excelerate Energy during the 1st quarter worth approximately $1,028,000. Hedge funds and other institutional investors 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.