Excelerate Energy (NYSE:EE) Now Covered by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has initiated coverage on Excelerate Energy with a "neutral" rating and a price target of $30.00, suggesting a potential upside of 30.76% from its current price.
• Excelerate Energy's stock has a consensus rating of "Moderate Buy" with an average target price of $32.71, while it reported quarterly earnings that exceeded analysts' expectations.
• The company's shares are currently trading down 3.2% at $22.94, with a market cap of $2.62 billion and a PE ratio of 16.87.

JPMorgan Chase & Co. initiated coverage on shares of Excelerate Energy (NYSE:EE - Free Report) in a report released on Monday morning. The brokerage issued a neutral rating and a $30.00 price target on the stock.

A number of other analysts have also issued reports on EE. Citigroup reissued an "outperform" rating on shares of Excelerate Energy in a research report on Wednesday, August 13th. Wall Street Zen raised shares of Excelerate Energy from a "sell" rating to a "hold" rating in a research report on Sunday, August 24th. Wells Fargo & Company set a $26.00 price target on shares of Excelerate Energy in a research report on Monday, August 11th. Finally, Jefferies Financial Group assumed coverage on shares of Excelerate Energy in a research report on Thursday, June 5th. They issued a "buy" rating and a $39.00 price target for the company. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $32.50.

Excelerate Energy Trading Up 0.7%

EE stock traded up $0.18 during mid-day trading on Monday, reaching $24.06. 290,825 shares of the stock traded hands, compared to its average volume of 384,734. 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 has a 52-week low of $18.69 and a 52-week high of $32.99. The company has a market cap of $2.74 billion, a P/E ratio of 17.69 and a beta of 1.38. The stock's fifty day moving average is $24.82 and its 200-day moving average is $27.12.

Excelerate Energy (NYSE:EE - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported $0.34 EPS for the quarter, beating analysts' consensus estimates 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 quarterly revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts expect 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 was paid on Thursday, September 4th. Investors of record on Wednesday, August 20th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This is a boost from Excelerate Energy's previous quarterly dividend of $0.06. This represents a $0.32 annualized dividend and a yield of 1.3%. Excelerate Energy's payout ratio is 23.53%.

Hedge Funds Weigh In On Excelerate Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AlphaQuest LLC bought a new position in Excelerate Energy during the second quarter valued at approximately $30,000. New York State Teachers Retirement System raised its position 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 acquiring an additional 1,467 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Excelerate Energy by 157.1% during the second quarter. Tower Research Capital LLC TRC now owns 1,941 shares of the company's stock valued at $57,000 after purchasing an additional 1,186 shares during the last quarter. Quarry LP grew its holdings in Excelerate Energy by 89.6% during the first quarter. Quarry LP now owns 1,997 shares of the company's stock valued at $57,000 after purchasing an additional 944 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its holdings in Excelerate Energy by 31.3% during the second quarter. Ameritas Investment Partners Inc. now owns 2,352 shares of the company's stock valued at $69,000 after purchasing an additional 561 shares during the last quarter. Institutional investors own 21.79% of the company's stock.

Excelerate Energy Company Profile

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.