Excelerate Energy (NYSE:EE) Price Target Raised to $41.00

Excelerate Energy (NYSE:EE) had its target price hoisted by Barclays from $33.00 to $41.00 in a research note released on Monday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research firms also recently commented on EE. Raymond James Financial raised 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. Morgan Stanley raised their price objective on shares of Excelerate Energy from $30.00 to $40.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 24th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $44.00 target price on shares of Excelerate Energy in a research report on Friday, February 6th. Wells Fargo & Company increased their target price on shares of Excelerate Energy from $29.00 to $39.00 and gave the company an “equal weight” rating in a report on Friday, February 27th. Finally, Tudor Pickering raised Excelerate Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 17th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $39.00.

Excelerate Energy Price Performance

Shares of EE opened at $38.53 on Monday. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.54. The stock’s 50 day moving average is $35.53 and its two-hundred day moving average is $29.36. Excelerate Energy has a twelve month low of $21.28 and a twelve month high of $43.17. The firm has a market capitalization of $4.39 billion, a PE ratio of 29.19, a P/E/G ratio of 1.26 and a beta of 1.34.

Excelerate Energy (NYSE:EE) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). Excelerate Energy had a net margin of 3.19% and a return on equity of 4.12%. The business had revenue of $317.57 million during the quarter, compared to analyst estimates of $293.49 million. During the same period in the prior year, the business earned $0.40 earnings per share. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. Research analysts anticipate that Excelerate Energy will post 1.16 earnings per share for the current year.

Excelerate Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th will be issued a dividend of $0.08 per share. The ex-dividend date is Wednesday, March 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.8%. Excelerate Energy’s payout ratio is 24.24%.

Excelerate Energy declared that its board has authorized a share repurchase plan on Thursday, December 11th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the company to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Excelerate Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Arax Advisory Partners raised its holdings in Excelerate Energy by 791.9% in the 4th quarter. Arax Advisory Partners now owns 883 shares of the company’s stock valued at $25,000 after acquiring an additional 784 shares during the last quarter. AlphaQuest LLC acquired a new position in Excelerate Energy in the second quarter valued at $30,000. Global Retirement Partners LLC purchased a new position in Excelerate Energy during the fourth quarter worth about $33,000. State of Alaska Department of Revenue acquired a new stake in Excelerate Energy in the 3rd quarter worth about $30,000. Finally, Essex Investment Management Co. LLC acquired a new position in shares of Excelerate Energy during the 4th quarter valued at about $41,000. 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.