Excelerate Energy, Inc. (NYSE:EE) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Excelerate Energy received a consensus “Moderate Buy” rating from 14 brokerages, with an average 12-month price target of $40.73. Ratings included five buys, three strong buys and six holds.
• Institutional investors increased their exposure to the company, including a 4,654.8% stake increase by California State Teachers Retirement System. Institutions collectively own 21.79% of Excelerate Energy’s shares.
• Excelerate reported quarterly earnings of $0.37 per share, exceeding estimates by $0.02, while revenue rose 60.9% year over year to $329.27 million. The company also raised its quarterly dividend from $0.08 to $0.09 per share.

Excelerate Energy, Inc. (NYSE:EE - Get Free Report) has been assigned an average rating of "Moderate Buy" from the fourteen brokerages that are presently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $40.7273.

A number of brokerages have weighed in on EE. Barclays upped 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. Jefferies Financial Group reissued a "buy" rating and set a $48.00 price objective on shares of Excelerate Energy in a report on Friday, July 10th. Weiss Ratings raised shares of Excelerate Energy from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday. Zacks Research upgraded shares of Excelerate Energy from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 14th. Finally, Stephens reissued an "overweight" rating and issued a $45.00 price target on shares of Excelerate Energy in a research note on Thursday, July 9th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in EE. California State Teachers Retirement System boosted its stake in Excelerate Energy by 4,654.8% in the second quarter. California State Teachers Retirement System now owns 1,036,557 shares of the company's stock worth $39,379,000 after buying an additional 1,014,757 shares in the last quarter. Ranger Investment Management L.P. purchased a new position in shares of Excelerate Energy during the second quarter worth approximately $34,658,000. Wellington Management Group LLP raised its stake in shares of Excelerate Energy by 24.9% during the fourth quarter. Wellington Management Group LLP now owns 3,607,182 shares of the company's stock worth $101,181,000 after acquiring an additional 719,148 shares in the last quarter. Copeland Capital Management LLC lifted its holdings in shares of Excelerate Energy by 45.0% in the 1st quarter. Copeland Capital Management LLC now owns 1,584,618 shares of the company's stock worth $52,958,000 after acquiring an additional 491,653 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its holdings in shares of Excelerate Energy by 328.4% in 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 during the last quarter. Institutional investors own 21.79% of the company's stock.

Excelerate Energy Stock Down 0.1%

Shares of NYSE:EE opened at $39.97 on Monday. The firm has a fifty day moving average price of $38.37 and a two-hundred day moving average price of $36.37. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.80 and a quick ratio of 1.80. Excelerate Energy has a one year low of $22.86 and a one year high of $43.17. The company has a market cap of $4.53 billion, a price-to-earnings ratio of 27.57 and a beta of 1.22.

Excelerate Energy (NYSE:EE - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. Excelerate Energy had a net margin of 3.23% and a return on equity of 2.24%. The firm had revenue of $329.27 million for the quarter, compared to analysts' expectations of $344.27 million. During the same quarter in the prior year, the firm posted $0.34 earnings per share. The business's quarterly revenue was up 60.9% on a year-over-year basis. Analysts anticipate that Excelerate Energy will post 1.57 EPS for the current fiscal year.

Excelerate Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Wednesday, August 19th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.9%. This is an increase from Excelerate Energy's previous quarterly dividend of $0.08. Excelerate Energy's payout ratio is presently 24.83%.

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.

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