Excelerate Energy, Inc. (NYSE:EE) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Excelerate Energy, Inc. (NYSE:EE) have been assigned a consensus rating of “Moderate Buy” from the twelve ratings firms that are presently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $35.50.

Several brokerages have weighed in on EE. Tudor Pickering upgraded Excelerate Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 17th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $44.00 price target on shares of Excelerate Energy in a report on Friday, February 6th. Morgan Stanley set a $30.00 price objective on shares of Excelerate Energy and gave the company an “equal weight” rating in a research note on Thursday, November 6th. Dnb Carnegie downgraded shares of Excelerate Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 19th. Finally, Jefferies Financial Group lifted their target price on shares of Excelerate Energy from $37.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, January 20th.

Excelerate Energy Trading Up 0.5%

NYSE EE opened at $42.36 on Thursday. The firm’s fifty day moving average is $33.60 and its two-hundred day moving average is $28.57. Excelerate Energy has a one year low of $21.28 and a one year high of $43.03. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.39 and a current ratio of 2.39. The firm has a market cap of $4.83 billion, a PE ratio of 29.42, a P/E/G ratio of 1.34 and a beta of 1.36.

Excelerate Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Wednesday, March 11th will be given a dividend of $0.08 per share. The ex-dividend date is Wednesday, March 11th. This represents a $0.32 annualized dividend and a yield of 0.8%. Excelerate Energy’s payout ratio is presently 22.22%.

Excelerate Energy declared that its Board of Directors has authorized a share buyback program on Thursday, December 11th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the company to buy up to 2.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Excelerate Energy

A number of large investors have recently made changes to their positions in the stock. Arax Advisory Partners boosted its holdings in Excelerate Energy by 791.9% during the fourth quarter. Arax Advisory Partners now owns 883 shares of the company’s stock worth $25,000 after buying an additional 784 shares in the last quarter. AlphaQuest LLC acquired a new stake in shares of Excelerate Energy in the 2nd quarter worth approximately $30,000. State of Alaska Department of Revenue purchased a new position in Excelerate Energy in the 3rd quarter valued at approximately $30,000. Global Retirement Partners LLC acquired a new position in Excelerate Energy during the fourth quarter worth $33,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in Excelerate Energy during the third quarter worth $38,000. Hedge funds and other institutional investors own 21.79% of the company’s stock.

About Excelerate Energy

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.