Excelerate Energy (NYSE:EE) Reaches New 52-Week High – Here’s What Happened
by Scott Moore · The Cerbat GemExcelerate Energy, Inc. (NYSE:EE – Get Free Report) shares reached a new 52-week high during trading on Friday . The stock traded as high as $33.00 and last traded at $33.5870, with a volume of 10582 shares. The stock had previously closed at $32.39.
Analyst Ratings Changes
EE has been the subject of several research reports. Raymond James Financial upgraded Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 target price for the company in a report on Monday, January 5th. Jefferies Financial Group set a $37.00 price objective on shares of Excelerate Energy and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Wall Street Zen raised shares of Excelerate Energy from a “hold” rating to a “buy” rating in a research report on Sunday, January 11th. Tudor Pickering upgraded shares of Excelerate Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 17th. Finally, Morgan Stanley set a $30.00 price target on shares of Excelerate Energy and gave the stock an “equal weight” rating in a research report on Thursday, November 6th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Excelerate Energy currently has an average rating of “Moderate Buy” and an average target price of $32.25.
Read Our Latest Stock Analysis on EE
Excelerate Energy Trading Up 1.2%
The firm has a market capitalization of $3.79 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 1.30 and a beta of 1.36. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 0.56. The company’s 50-day simple moving average is $28.02 and its 200 day simple moving average is $26.38.
Excelerate Energy (NYSE:EE – Get Free Report) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.32 by $0.13. Excelerate Energy had a net margin of 3.46% and a return on equity of 4.34%. The firm had revenue of $391.04 million during the quarter, compared to analyst estimates of $270.82 million. The business’s revenue for the quarter was up 102.2% on a year-over-year basis. As a group, sell-side analysts expect that Excelerate Energy, Inc. will post 1.16 EPS for the current year.
Excelerate Energy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Wednesday, November 19th were given a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, November 19th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.0%. Excelerate Energy’s dividend payout ratio (DPR) is presently 22.22%.
Excelerate Energy announced that its board has approved a share repurchase plan on Thursday, December 11th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
Hedge Funds Weigh In On Excelerate Energy
Several hedge funds and other institutional investors have recently modified their holdings of EE. PNC Financial Services Group Inc. boosted its stake in Excelerate Energy by 19.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,438 shares of the company’s stock worth $61,000 after purchasing an additional 392 shares in the last quarter. Bailard Inc. raised its holdings in shares of Excelerate Energy by 1.6% in the third quarter. Bailard Inc. now owns 25,500 shares of the company’s stock worth $642,000 after buying an additional 400 shares during the last quarter. Summit Global Investments lifted its stake in shares of Excelerate Energy by 3.2% during the third quarter. Summit Global Investments now owns 12,973 shares of the company’s stock worth $327,000 after buying an additional 406 shares during the period. Rhumbline Advisers grew its holdings in shares of Excelerate Energy by 1.5% during the first quarter. Rhumbline Advisers now owns 31,903 shares of the company’s stock valued at $915,000 after buying an additional 471 shares during the last quarter. Finally, New York State Teachers Retirement System grew its holdings in shares of Excelerate Energy by 32.8% during the third quarter. New York State Teachers Retirement System now owns 2,081 shares of the company’s stock valued at $52,000 after buying an additional 514 shares during the last quarter. 21.79% of the stock is owned by hedge funds and other institutional investors.
Excelerate Energy Company Profile
Excelerate Energy (NYSE: EE) is a Houston‐based energy infrastructure company specializing in liquefied natural gas (LNG) solutions. The company develops, owns and operates floating regasification units (FSRUs) that convert shipped LNG into natural gas for delivery into existing pipeline networks. Excelerate Energy’s integrated platform also includes specialized LNG carriers, proprietary regasification technology and on‐shore support facilities, enabling rapid deployment of import terminals without extensive capital construction.
Founded in the early 2000s, Excelerate Energy pioneered the first FSRU in 2007, demonstrating the flexibility and cost advantages of floating LNG import infrastructure.