Excelerate Energy (NYSE:EE) Reaches New 12-Month High on Analyst Upgrade

Shares of Excelerate Energy, Inc. (NYSE:EE - Get Free Report) reached a new 52-week high on Tuesday after Wells Fargo & Company raised their price target on the stock from $19.00 to $22.00. Wells Fargo & Company currently has an underweight rating on the stock. Excelerate Energy traded as high as $28.42 and last traded at $28.41, with a volume of 19583 shares. The stock had previously closed at $27.91.

Several other brokerages have also recently issued reports on EE. Northland Securities raised their price objective on Excelerate Energy from $25.00 to $29.00 and gave the stock an "outperform" rating in a research note on Monday. Stephens lifted their price target on Excelerate Energy from $21.00 to $28.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. Finally, Barclays boosted their price objective on Excelerate Energy from $22.00 to $26.00 and gave the company an "overweight" rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $24.57.

Hedge Funds Weigh In On Excelerate Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EE. nVerses Capital LLC bought a new stake in shares of Excelerate Energy in the 2nd quarter worth approximately $26,000. Public Employees Retirement System of Ohio bought a new stake in shares of Excelerate Energy in the 1st quarter worth approximately $38,000. US Bancorp DE bought a new stake in shares of Excelerate Energy in the 3rd quarter worth approximately $130,000. SG Americas Securities LLC bought a new stake in shares of Excelerate Energy in the 3rd quarter worth approximately $161,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Excelerate Energy in the 1st quarter worth approximately $118,000. Institutional investors own 21.79% of the company's stock.

Excelerate Energy Price Performance

The stock has a 50-day simple moving average of $22.17 and a 200 day simple moving average of $19.75. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.43 and a current ratio of 4.12. The company has a market cap of $2.99 billion, a P/E ratio of 28.19 and a beta of 1.28.

Excelerate Energy (NYSE:EE - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.32 by $0.03. Excelerate Energy had a return on equity of 1.39% and a net margin of 3.14%. The business had revenue of $193.42 million during the quarter, compared to the consensus estimate of $194.09 million. During the same quarter last year, the company earned $0.40 EPS. On average, equities analysts expect that Excelerate Energy, Inc. will post 1.18 EPS for the current year.

Excelerate Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Wednesday, November 20th will be paid a $0.06 dividend. This is a boost from Excelerate Energy's previous quarterly dividend of $0.03. This represents a $0.24 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Wednesday, November 20th. Excelerate Energy's dividend payout ratio (DPR) is 10.10%.

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.