Excelerate Energy, Inc. (NYSE:EE) Stock Has Consensus Price Target of $44.56

Key Points

• Analysts maintain a Moderate Buy consensus on Excelerate Energy, with five buy, three strong-buy, and five hold ratings. The average 12-month price target is $44.56, above the stock’s reported $32.14 opening price.
• Excelerate Energy exceeded quarterly EPS expectations, reporting $0.37 versus the $0.35 consensus estimate, while revenue rose 60.9% year over year to $329.27 million but fell short of estimates.
• The company increased its quarterly dividend to $0.09, equal to an annualized $0.36 payout and a 1.1% yield. Institutional investors and hedge funds collectively own 21.79% of the company.

Excelerate Energy, Inc. (NYSE:EE - Get Free Report) has earned an average rating of "Moderate Buy" from the thirteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $44.56.

A number of equities research analysts have recently issued reports on EE shares. Morgan Stanley set a $41.00 price target on shares of Excelerate Energy in a report on Friday, August 7th. Wells Fargo & Company lifted 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 report on Wednesday, August 12th. Northland Securities set a $45.00 target price on shares of Excelerate Energy in a research note on Wednesday, August 12th. Citigroup restated an "outperform" rating on shares of Excelerate Energy in a report on Wednesday, August 12th. Finally, Stephens reaffirmed 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 Up 0.0%

Shares of EE opened at $32.14 on Friday. The business's 50-day moving average price is $37.22 and its 200 day moving average price is $35.90. The stock has a market capitalization of $3.64 billion, a P/E ratio of 22.16 and a beta of 1.25. Excelerate Energy has a 1-year low of $24.89 and a 1-year high of $43.17. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.52.

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

Excelerate Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Wednesday, August 19th were paid a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.36 annualized dividend and a yield of 1.1%. This is an increase from Excelerate Energy's previous quarterly dividend of $0.08. Excelerate Energy's dividend payout ratio (DPR) is currently 24.83%.

Hedge Funds Weigh In On Excelerate Energy

Several institutional investors and hedge funds have recently bought and sold shares of EE. Bank of New York Mellon Corp lifted its position in shares of Excelerate Energy by 0.3% in the first quarter. Bank of New York Mellon Corp now owns 195,532 shares of the company's stock worth $6,535,000 after buying an additional 633 shares during the last quarter. Quantinno Capital Management LP increased its holdings in shares of Excelerate Energy by 6.7% during the 1st quarter. Quantinno Capital Management LP now owns 11,025 shares of the company's stock valued at $368,000 after acquiring an additional 690 shares during the last quarter. Swiss National Bank increased its holdings in shares of Excelerate Energy by 1.9% during the 1st quarter. Swiss National Bank now owns 47,500 shares of the company's stock valued at $1,587,000 after acquiring an additional 900 shares during the last quarter. Nykredit A S bought a new position in shares of Excelerate Energy in the 2nd quarter valued at approximately $70,000. Finally, HITE Hedge Asset Management LLC raised its stake in shares of Excelerate Energy by 1.1% in the 4th quarter. HITE Hedge Asset Management LLC now owns 191,930 shares of the company's stock valued at $5,384,000 after acquiring an additional 2,120 shares in the last quarter. Hedge funds and other institutional investors own 21.79% of the company's stock.

About Excelerate Energy

Excelerate Energy, Inc is a U.S.-based energy infrastructure company focused on delivering liquefied natural gas (LNG) to markets that need flexible access to natural gas. The company's core business is the ownership and operation of floating storage and regasification units (FSRUs), which receive, store, and convert LNG back into natural gas for delivery to onshore or pipeline networks.

In addition to operating FSRUs, Excelerate provides integrated LNG services that can include LNG procurement and supply, transportation, regasification, facility development, and related downstream infrastructure.

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