Excelerate Energy (NYSE:EE) Shares Down 7.3% - Here's What Happened

Key Points

• Excelerate Energy's shares fell by 7.3%, trading between $21.29 and $22.56, with a decline in trading volume by 31% compared to averages.
• Analysts have mixed views about the stock, with two rating it as a sell, one as a hold, and five issuing buy ratings, resulting in a consensus target price of $32.29.
• The company recently increased its quarterly dividend to $0.08 per share, reflecting a commitment to shareholders with a yield of 1.3%.

Shares of Excelerate Energy, Inc. (NYSE:EE - Get Free Report) dropped 7.3% on Monday . The company traded as low as $21.29 and last traded at $22.56. Approximately 276,212 shares traded hands during trading, a decline of 31% from the average daily volume of 399,654 shares. The stock had previously closed at $24.32.

Analysts Set New Price Targets

EE has been the topic of several recent research reports. Jefferies Financial Group initiated coverage on Excelerate Energy in a report on Thursday, June 5th. They set a "buy" rating and a $39.00 price target on the stock. Wall Street Zen raised Excelerate Energy from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Wells Fargo & Company raised Excelerate Energy from an "underweight" rating to an "equal weight" rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $32.29.

Excelerate Energy Trading Down 2.0%

The company has a debt-to-equity ratio of 0.31, a quick ratio of 3.34 and a current ratio of 3.34. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of 16.21 and a beta of 1.38. The company has a 50-day moving average price of $27.74 and a 200-day moving average price of $28.11.

Excelerate Energy (NYSE:EE - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.01. Excelerate Energy had a return on equity of 2.20% and a net margin of 3.93%. The business's revenue was up 11.6% compared to the same quarter last year. As a group, research analysts forecast that Excelerate Energy, Inc. will post 1.16 EPS for the current fiscal 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 dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.3%. This is a positive change from Excelerate Energy's previous quarterly dividend of $0.06. Excelerate Energy's dividend payout ratio (DPR) is 21.77%.

Institutional Investors Weigh In On Excelerate Energy

A number of institutional investors have recently added to or reduced their stakes in EE. AlphaQuest LLC bought a new stake in Excelerate Energy during the second quarter valued at about $30,000. Aquatic Capital Management LLC acquired a new stake in shares of Excelerate Energy in the fourth quarter valued at approximately $33,000. New York State Teachers Retirement System increased its holdings in shares of Excelerate Energy by 1,467.0% in the first quarter. New York State Teachers Retirement System now owns 1,567 shares of the company's stock valued at $45,000 after purchasing an additional 1,467 shares in the last quarter. Summit Investment Advisors Inc. boosted its stake in Excelerate Energy by 28.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,791 shares of the company's stock valued at $54,000 after acquiring an additional 400 shares during the last quarter. Finally, Quarry LP boosted its stake in Excelerate Energy by 89.6% in the first quarter. Quarry LP now owns 1,997 shares of the company's stock valued at $57,000 after acquiring an additional 944 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, 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.

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