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

Excelerate Energy, Inc. (NYSE:EE - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $31.70, but opened at $30.82. Excelerate Energy shares last traded at $28.42, with a volume of 124,797 shares trading hands.

Analyst Ratings Changes

Several analysts recently commented on the company. Wells Fargo & Company lifted their price objective on Excelerate Energy from $19.00 to $22.00 and gave the stock an "underweight" rating in a report on Tuesday, November 12th. Morgan Stanley lifted their target price on shares of Excelerate Energy from $23.00 to $25.00 and gave the company an "equal weight" rating in a research note on Thursday, November 14th. Barclays increased their price target on Excelerate Energy from $22.00 to $26.00 and gave the stock an "overweight" rating in a research note on Monday, October 21st. JPMorgan Chase & Co. restated an "underweight" rating and issued a $31.00 price objective (up from $22.00) on shares of Excelerate Energy in a research report on Tuesday. Finally, Northland Securities increased their target price on Excelerate Energy from $29.00 to $37.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Excelerate Energy currently has a consensus rating of "Hold" and an average price target of $28.71.

Excelerate Energy Stock Down 6.7 %

The company has a current ratio of 4.12, a quick ratio of 4.12 and a debt-to-equity ratio of 0.34. The firm has a market cap of $3.14 billion, a P/E ratio of 29.88, a P/E/G ratio of 2.28 and a beta of 1.42. The business has a 50-day moving average price of $29.25 and a 200-day moving average price of $23.36.

Excelerate Energy (NYSE:EE - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.03. The business had revenue of $193.42 million for the quarter, compared to analysts' expectations of $194.09 million. Excelerate Energy had a return on equity of 1.39% and a net margin of 3.14%. During the same quarter last year, the firm earned $0.40 EPS. On average, equities analysts forecast that Excelerate Energy, Inc. will post 1.23 EPS for the current fiscal year.

Excelerate Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Wednesday, November 20th were issued a dividend of $0.06 per share. This is an increase from Excelerate Energy's previous quarterly dividend of $0.03. The ex-dividend date was Wednesday, November 20th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.81%. Excelerate Energy's payout ratio is 24.24%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Quarry LP grew its holdings in Excelerate Energy by 28.9% in the third quarter. Quarry LP now owns 1,822 shares of the company's stock valued at $40,000 after purchasing an additional 409 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Excelerate Energy during the third quarter worth $94,000. US Bancorp DE acquired a new stake in Excelerate Energy in the 3rd quarter valued at about $130,000. SG Americas Securities LLC acquired a new stake in shares of Excelerate Energy in the third quarter valued at approximately $161,000. Finally, Janus Henderson Group PLC purchased a new position in shares of Excelerate Energy during the 3rd quarter worth $200,000. Hedge funds and other 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.