Excelerate Energy, Inc. (NYSE:EE) Given Average Rating of “Moderate Buy” by Brokerages

by · The Cerbat Gem

Excelerate Energy, Inc. (NYSE:EE – Get Free Report) has earned an average rating of “Moderate Buy” from the nine analysts that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $31.7143.

A number of brokerages have weighed in on EE. JPMorgan Chase & Co. initiated coverage on Excelerate Energy in a research note on Monday, September 8th. They set a “neutral” rating and a $30.00 price objective for the company. Tudor Pickering raised shares of Excelerate Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 17th. Jefferies Financial Group set a $37.00 price target on shares of Excelerate Energy and gave the company a “buy” rating in a report on Tuesday, October 28th. Wall Street Zen lowered shares of Excelerate Energy from a “buy” rating to a “hold” rating in a report on Saturday. Finally, DNB Markets set a $31.00 target price on shares of Excelerate Energy in a research note on Wednesday, September 10th.

Read Our Latest Research Report on Excelerate Energy

Excelerate Energy Stock Up 1.1%

Shares of NYSE:EE opened at $28.37 on Wednesday. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 19.70, a price-to-earnings-growth ratio of 1.13 and a beta of 1.36. The company has a 50 day moving average of $27.23 and a two-hundred day moving average of $26.27. Excelerate Energy has a 52-week low of $21.28 and a 52-week high of $32.99. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 0.56.

Excelerate Energy (NYSE:EE – Get Free Report) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.13. The business had revenue of $391.04 million during the quarter, compared to analyst estimates of $270.82 million. Excelerate Energy had a net margin of 3.46% and a return on equity of 4.34%. Excelerate Energy’s revenue was up 102.2% on a year-over-year basis. As a group, analysts forecast that Excelerate Energy will post 1.16 earnings per share for the current fiscal year.

Excelerate Energy declared that its Board of Directors has approved a stock repurchase program on Thursday, December 11th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the company to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Excelerate Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Wednesday, November 19th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, November 19th. Excelerate Energy’s dividend payout ratio (DPR) is currently 22.22%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. AlphaQuest LLC bought a new position in Excelerate Energy in the second quarter worth about $30,000. State of Alaska Department of Revenue acquired a new stake in Excelerate Energy in the third quarter worth $30,000. Aster Capital Management DIFC Ltd bought a new stake in Excelerate Energy in the third quarter valued at $38,000. New York State Teachers Retirement System grew its position 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 worth $52,000 after acquiring an additional 514 shares during the last quarter. Finally, Quarry LP lifted its position in Excelerate Energy by 89.6% in the 1st quarter. Quarry LP now owns 1,997 shares of the company’s stock valued at $57,000 after purchasing an additional 944 shares during the last quarter. 21.79% of the stock is currently owned by institutional investors.

About Excelerate Energy

(Get Free Report)

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.

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