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

Shares of Excelerate Energy, Inc. (NYSE:EE) have been given an average recommendation of “Moderate Buy” by the fourteen brokerages that are currently covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $40.7273.

A number of research analysts recently commented on the company. The Goldman Sachs Group initiated coverage on Excelerate Energy in a research report on Wednesday, July 15th. They issued a “buy” rating and a $49.00 price target on the stock. Morgan Stanley set a $41.00 price objective on shares of Excelerate Energy in a research report on Friday, August 7th. Wells Fargo & Company increased their price objective on shares of Excelerate Energy from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 12th. Barclays raised their target price on shares of Excelerate Energy from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Finally, Stephens restated an “overweight” rating and issued a $45.00 target price on shares of Excelerate Energy in a research report on Thursday, July 9th.

Excelerate Energy Trading Down 1.3%

Shares of NYSE:EE opened at $36.15 on Thursday. The business’s 50 day simple moving average is $37.14 and its 200 day simple moving average is $36.26. Excelerate Energy has a 1 year low of $22.86 and a 1 year high of $43.17. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.80 and a quick ratio of 1.80. The company has a market capitalization of $4.10 billion, a P/E ratio of 24.93 and a beta of 1.22.

Excelerate Energy (NYSE:EE) last announced its quarterly earnings data 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 analysts’ expectations of $344.27 million. Excelerate Energy had a return on equity of 2.24% and a net margin of 3.23%.The company’s quarterly revenue was up 60.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.34 EPS. On average, research analysts anticipate that Excelerate Energy will post 1.57 EPS for the current fiscal year.

Excelerate Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Wednesday, August 19th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. This is a positive change from Excelerate Energy’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, August 19th. Excelerate Energy’s payout ratio is 22.07%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. UBS Group AG increased its stake 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 purchasing an additional 183,664 shares during the last quarter. NFJ Investment Group LLC acquired a new position in shares of Excelerate Energy during the 4th quarter worth $2,590,000. Copeland Capital Management LLC acquired a new position in shares of Excelerate Energy during the 4th quarter worth $30,658,000. Renaissance Technologies LLC lifted its position in shares of Excelerate Energy by 132.9% during the 1st quarter. Renaissance Technologies LLC now owns 285,519 shares of the company’s stock worth $9,542,000 after buying an additional 162,919 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its position in shares of Excelerate Energy by 130.2% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 62,018 shares of the company’s stock worth $2,073,000 after buying an additional 35,078 shares during the last quarter. 21.79% of the stock is currently owned by institutional investors and hedge funds.

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.