Excelerate Energy, Inc. (NYSE:EE) Receives $32.50 Average Price Target from Brokerages

Excelerate Energy, Inc. (NYSE:EE) has received a consensus recommendation of “Hold” from the nine brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $32.50.

EE has been the subject of several recent research reports. JPMorgan Chase & Co. initiated coverage on shares of Excelerate Energy in a research report on Monday, September 8th. They set a “neutral” rating and a $30.00 target price for the company. DNB Markets set a $31.00 target price on shares of Excelerate Energy in a research report on Wednesday, September 10th. Citigroup restated an “outperform” rating on shares of Excelerate Energy in a research report on Wednesday, August 13th. Wells Fargo & Company set a $26.00 price target on shares of Excelerate Energy in a report on Monday, August 11th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Excelerate Energy in a report on Wednesday, October 8th.

Hedge Funds Weigh In On Excelerate Energy

Several large investors have recently added to or reduced their stakes in EE. GAMMA Investing LLC lifted its holdings in Excelerate Energy by 4,503.2% during the first quarter. GAMMA Investing LLC now owns 12,935 shares of the company’s stock valued at $371,000 after purchasing an additional 12,654 shares in the last quarter. Rhumbline Advisers lifted its holdings in Excelerate Energy by 1.5% during the first quarter. Rhumbline Advisers now owns 31,903 shares of the company’s stock valued at $915,000 after purchasing an additional 471 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in Excelerate Energy by 30.8% during the first quarter. Exchange Traded Concepts LLC now owns 27,319 shares of the company’s stock valued at $784,000 after purchasing an additional 6,439 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in Excelerate Energy by 1,467.0% during the first quarter. New York State Teachers Retirement System now owns 1,567 shares of the company’s stock valued at $45,000 after purchasing an additional 1,467 shares in the last quarter. Finally, MQS Management LLC purchased a new position in Excelerate Energy during the first quarter valued at approximately $224,000. Hedge funds and other institutional investors own 21.79% of the company’s stock.

Excelerate Energy Stock Performance

Shares of NYSE EE opened at $25.75 on Friday. The firm has a 50 day moving average of $25.10 and a 200 day moving average of $26.58. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of 18.93 and a beta of 1.37. Excelerate Energy has a 12-month low of $21.28 and a 12-month high of $32.99.

Excelerate Energy (NYSE:EE) last announced its earnings results on Monday, August 11th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. The company had revenue of $204.60 million during the quarter, compared to analyst estimates of $259.82 million. Excelerate Energy had a net margin of 3.64% and a return on equity of 4.16%. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, research analysts anticipate that Excelerate Energy will post 1.16 earnings per share for the current year.

Excelerate Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Wednesday, August 20th were issued a dividend of $0.08 per share. This is an increase from Excelerate Energy’s previous quarterly dividend of $0.06. This represents a $0.32 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, August 20th. Excelerate Energy’s payout ratio is presently 23.53%.

About Excelerate Energy

Excelerate Energy, Inc provides flexible liquefied natural gas (LNG) solutions worldwide. The company offers regasification services, including floating storage and regasification units (FSRUs), infrastructure development, and LNG and natural gas supply, procurement, and distribution services; LNG terminal services; and natural gas supply to-power projects.