Analysts Set Excelerate Energy, Inc. (NYSE:EE) Target Price at $32.86

Key Points

• Excelerate Energy, Inc. has received a consensus rating of "Hold" from analysts, with two sell ratings, one hold, and five buy recommendations.
• The company's stock recently opened at $24.42, with a 52-week low of $17.70 and a high of $32.99, while the average price target among brokerages is $32.86.
• Excelerate Energy declared an increase in its quarterly dividend to $0.08 per share, representing a 1.3% yield, effective for stockholders of record as of August 20th.

Shares of Excelerate Energy, Inc. (NYSE:EE - Get Free Report) have received a consensus rating of "Hold" from the eight analysts that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $32.8571.

A number of brokerages have issued reports on EE. Jefferies Financial Group began coverage on Excelerate Energy in a research note on Thursday, June 5th. They issued a "buy" rating and a $39.00 price objective for the company. Wall Street Zen upgraded Excelerate Energy from a "sell" rating to a "hold" rating in a research note on Sunday, August 24th. Citigroup restated an "outperform" rating on shares of Excelerate Energy in a research note on Wednesday, August 13th. Finally, Wells Fargo & Company set a $26.00 price objective on Excelerate Energy in a research note on Monday, August 11th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Squarepoint Ops LLC lifted its position in shares of Excelerate Energy by 456.6% during the 2nd quarter. Squarepoint Ops LLC now owns 109,036 shares of the company's stock valued at $3,197,000 after buying an additional 89,448 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Excelerate Energy by 157.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,941 shares of the company's stock valued at $57,000 after buying an additional 1,186 shares during the last quarter. Sourcerock Group LLC purchased a new position in shares of Excelerate Energy during the 2nd quarter valued at $1,173,000. Lazard Asset Management LLC lifted its position in shares of Excelerate Energy by 609.3% during the 2nd quarter. Lazard Asset Management LLC now owns 24,798 shares of the company's stock valued at $725,000 after buying an additional 21,302 shares during the last quarter. Finally, Fortress Investment Group LLC purchased a new position in shares of Excelerate Energy during the 2nd quarter valued at $3,130,000. Hedge funds and other institutional investors own 21.79% of the company's stock.

Excelerate Energy Stock Down 2.4%

Excelerate Energy stock traded down $0.59 during trading on Thursday, hitting $23.83. 318,675 shares of the company were exchanged, compared to its average volume of 497,839. The business's 50 day moving average is $25.69 and its 200 day moving average is $27.40. Excelerate Energy has a 52 week low of $17.70 and a 52 week high of $32.99. The company has a market capitalization of $2.72 billion, a P/E ratio of 17.52 and a beta of 1.38. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.58.

Excelerate Energy (NYSE:EE - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.02. The business had revenue of $204.60 million during the quarter, compared to the consensus estimate of $259.82 million. Excelerate Energy had a return on equity of 4.16% and a net margin of 3.64%.The business's revenue for the quarter was up 11.6% compared to the same quarter last year. Analysts predict that Excelerate Energy will post 1.16 earnings per share for the current year.

Excelerate Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Wednesday, August 20th will be paid a $0.08 dividend. This is a boost from Excelerate Energy's previous quarterly dividend of $0.06. The ex-dividend date is Wednesday, August 20th. This represents a $0.32 dividend on an annualized basis and a yield of 1.3%. Excelerate Energy's dividend payout ratio is currently 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.