Excelerate Energy (NYSE:EE) Upgraded to "Hold" at Wall Street Zen

Key Points

• Excelerate Energy's stock rating has been upgraded from a "sell" to a "hold" by analysts at Wall Street Zen.
• The company recently reported an earnings per share (EPS) of $0.34 for the last quarter, beating the consensus estimate of $0.32.
• There is a consensus rating of "Hold" among analysts, with a target price of $32.86 for Excelerate Energy's shares.

Wall Street Zen upgraded shares of Excelerate Energy (NYSE:EE - Free Report) from a sell rating to a hold rating in a research report sent to investors on Sunday.

A number of other brokerages have also issued reports on EE. Jefferies Financial Group started coverage on shares of Excelerate Energy in a report on Thursday, June 5th. They set a "buy" rating and a $39.00 price objective for the company. Citigroup reaffirmed an "outperform" rating on shares of Excelerate Energy in a report on Wednesday, August 13th. Finally, Wells Fargo & Company set a $26.00 price objective on shares of Excelerate Energy in a report on Monday, August 11th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Excelerate Energy presently has a consensus rating of "Hold" and a consensus price target of $32.86.

Excelerate Energy Stock Performance

Excelerate Energy stock traded up $0.22 during midday trading on Friday, hitting $24.66. The stock had a trading volume of 125,258 shares, compared to its average volume of 415,532. The firm's fifty day moving average is $26.09 and its two-hundred day moving average is $27.57. The company has a market capitalization of $2.81 billion, a PE ratio of 18.15 and a beta of 1.38. Excelerate Energy has a 52-week low of $17.70 and a 52-week high of $32.99. 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 released its 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 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. On average, research analysts forecast that Excelerate Energy will post 1.16 EPS for the current year.

Excelerate Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Wednesday, August 20th will be given a dividend of $0.08 per share. The ex-dividend date is Wednesday, August 20th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.3%. This is an increase from Excelerate Energy's previous quarterly dividend of $0.06. Excelerate Energy's dividend payout ratio is currently 23.53%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. AlphaQuest LLC bought a new stake in Excelerate Energy in the second quarter worth $30,000. Aquatic Capital Management LLC bought a new stake in Excelerate Energy in the fourth quarter worth $33,000. New York State Teachers Retirement System lifted its position in 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 worth $45,000 after buying an additional 1,467 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Excelerate Energy by 157.1% in the second quarter. Tower Research Capital LLC TRC now owns 1,941 shares of the company's stock worth $57,000 after buying an additional 1,186 shares during the last quarter. Finally, Quarry LP lifted its position in Excelerate Energy by 89.6% in the first quarter. Quarry LP now owns 1,997 shares of the company's stock worth $57,000 after buying an additional 944 shares during the last quarter. 21.79% of the stock is currently owned by institutional investors.

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.