Excelerate Energy (NYSE:EE) Trading Up 3.5% – Here’s Why

Excelerate Energy, Inc. (NYSE:EE)’s stock price shot up 3.5% during mid-day trading on Monday . The company traded as high as $28.81 and last traded at $28.96. 134,361 shares changed hands during trading, a decline of 40% from the average session volume of 223,215 shares. The stock had previously closed at $27.99.

Analysts Set New Price Targets

Several brokerages recently issued reports on EE. 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 report on Tuesday, January 7th. Wells Fargo & Company restated an “underweight” rating on shares of Excelerate Energy in a report on Friday. Northland Securities lifted their target price on shares of Excelerate Energy from $29.00 to $37.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Morgan Stanley restated an “underweight” rating and set a $29.00 price target (up from $25.00) on shares of Excelerate Energy in a research note on Friday, January 31st. Finally, Stephens restated an “overweight” rating and set a $36.00 price target on shares of Excelerate Energy in a research report on Monday, March 3rd. Three investment analysts have rated the stock with a sell rating and three have given a buy rating to the stock. According to MarketBeat.com, Excelerate Energy currently has an average rating of “Hold” and a consensus price target of $31.17.

Excelerate Energy Trading Up 2.1 %

The business has a fifty day moving average price of $29.71 and a 200 day moving average price of $27.81. The firm has a market cap of $3.03 billion, a PE ratio of 28.96, a P/E/G ratio of 5.82 and a beta of 1.39. The company has a current ratio of 4.12, a quick ratio of 4.12 and a debt-to-equity ratio of 0.34.

Excelerate Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 12th were paid a $0.06 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.24 annualized dividend and a yield of 0.84%. Excelerate Energy’s dividend payout ratio is currently 19.20%.

Institutional Investors Weigh In On Excelerate Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP acquired a new stake in shares of Excelerate Energy during the fourth quarter worth about $5,921,000. Jefferies Financial Group Inc. purchased a new stake in Excelerate Energy in the fourth quarter valued at approximately $275,000. Mackenzie Financial Corp boosted its holdings in shares of Excelerate Energy by 3.9% in the fourth quarter. Mackenzie Financial Corp now owns 72,646 shares of the company’s stock valued at $2,198,000 after acquiring an additional 2,740 shares during the period. Public Employees Retirement System of Ohio grew its position in shares of Excelerate Energy by 154.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 38,365 shares of the company’s stock worth $1,161,000 after acquiring an additional 23,281 shares during the last quarter. Finally, 10Elms LLP acquired a new position in shares of Excelerate Energy in the 4th quarter valued at $76,000. 21.79% of the stock is owned by hedge funds and other institutional investors.

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.