Excelerate Energy (NYSE:EE) Shares Cross Above 50 Day Moving Average - Here's Why

Key Points

• Shares moved above the 50-day moving average of $35.23, trading as high as $36.63; the stock was last quoted at $35.44.
• Analysts maintain a consensus Buy rating and $44 price target, with four Strong Buy, five Buy, and four Hold ratings.
• Quarterly EPS of $0.44 beat estimates of $0.42, but revenue of $297.21 million missed forecasts and fell 24% year over year. Excelerate also announced a $0.09 quarterly dividend.

Excelerate Energy, Inc. (NYSE:EE - Get Free Report) shares crossed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $35.23 and traded as high as $36.63. Excelerate Energy shares last traded at $35.4370, with a volume of 700,656 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. DNB Markets set a $39.00 price target on shares of Excelerate Energy in a report on Wednesday, October 28th. Stephens reaffirmed an "overweight" rating and set a $45.00 price objective on shares of Excelerate Energy in a research note on Thursday, July 9th. The Goldman Sachs Group assumed coverage on shares of Excelerate Energy in a research note on Wednesday, July 15th. They set a "buy" rating and a $49.00 price objective for the company. Morgan Stanley set a $41.00 target price on shares of Excelerate Energy in a report on Friday, August 7th. Finally, Citigroup reissued an "outperform" rating on shares of Excelerate Energy in a research note on Wednesday, August 12th. Four research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Excelerate Energy presently has an average rating of "Buy" and a consensus price target of $44.00.

Excelerate Energy Stock Up 3.3%

The company has a debt-to-equity ratio of 0.52, a current ratio of 1.80 and a quick ratio of 1.80. The stock has a market capitalization of $4.02 billion, a PE ratio of 24.27 and a beta of 1.23. The company has a 50 day moving average price of $35.23 and a 200-day moving average price of $36.05.

Excelerate Energy (NYSE:EE - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. The company had revenue of $297.21 million during the quarter, compared to analyst estimates of $365.99 million. Excelerate Energy had a return on equity of 2.15% and a net margin of 3.47%. The firm's revenue was down 24.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.45 earnings per share. As a group, analysts forecast that Excelerate Energy, Inc. will post 1.55 earnings per share for the current fiscal year.

Excelerate Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Wednesday, November 18th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, November 18th. Excelerate Energy's dividend payout ratio (DPR) is currently 24.66%.

Institutional Investors Weigh In On Excelerate Energy

Large investors have recently modified their holdings of the stock. Knights of Columbus Asset Advisors LLC raised its position in shares of Excelerate Energy by 0.5% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 68,788 shares of the company's stock worth $2,210,000 after acquiring an additional 323 shares in the last quarter. Kings Path Partners LLC purchased a new position in shares of Excelerate Energy in the 3rd quarter valued at approximately $473,000. Engineers Gate Manager LP bought a new stake in shares of Excelerate Energy during the second quarter valued at approximately $927,000. Nykredit A S bought a new stake in shares of Excelerate Energy during the second quarter valued at approximately $70,000. Finally, AXQ Capital LP bought a new stake in shares of Excelerate Energy during the second quarter valued at approximately $240,000. Institutional investors own 21.79% of the company's stock.

Excelerate Energy Company Profile

Excelerate Energy, Inc is a U.S.-based energy infrastructure company that provides liquefied natural gas (LNG) delivery and regasification services. The company specializes in floating storage and regasification units (FSRUs), which receive, store and convert LNG back into natural gas for delivery to onshore or offshore pipeline systems.

Excelerate offers integrated LNG solutions that can include vessel ownership and operation, terminal and regasification services, LNG supply, logistics and project development.

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