Northland Securities Forecasts Strong Price Appreciation for Excelerate Energy (NYSE:EE) Stock

Excelerate Energy (NYSE:EE) had its price target lifted by Northland Securities from $25.00 to $29.00 in a report issued on Monday,Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms have also recently commented on EE. Wells Fargo & Company cut Excelerate Energy from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $20.00 to $19.00 in a research report on Friday, August 30th. Stephens raised their price target on shares of Excelerate Energy from $21.00 to $28.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, Barclays boosted their price objective on shares of Excelerate Energy from $22.00 to $26.00 and gave the company an “overweight” rating in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.43.

Excelerate Energy Stock Up 0.8 %

EE stock opened at $27.80 on Monday. Excelerate Energy has a fifty-two week low of $13.38 and a fifty-two week high of $28.60. The business’s 50 day moving average price is $22.72 and its two-hundred day moving average price is $19.93. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of 27.84 and a beta of 1.28. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.12 and a current ratio of 4.12.

Excelerate Energy (NYSE:EE) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.03. The company had revenue of $193.42 million during the quarter, compared to the consensus estimate of $194.09 million. Excelerate Energy had a net margin of 3.14% and a return on equity of 1.39%. During the same quarter last year, the firm earned $0.40 earnings per share. As a group, analysts forecast that Excelerate Energy will post 1.18 earnings per share for the current fiscal year.

Excelerate Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Wednesday, November 20th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.86%. The ex-dividend date is Wednesday, November 20th. This is a positive change from Excelerate Energy’s previous quarterly dividend of $0.03. Excelerate Energy’s dividend payout ratio is presently 10.10%.

Institutional Trading of Excelerate Energy

Institutional investors have recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. boosted its stake in shares of Excelerate Energy by 10.1% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 814,090 shares of the company’s stock valued at $15,012,000 after purchasing an additional 74,946 shares during the period. Marshall Wace LLP lifted its holdings in Excelerate Energy by 28.2% during the 2nd quarter. Marshall Wace LLP now owns 338,465 shares of the company’s stock valued at $6,241,000 after buying an additional 74,491 shares in the last quarter. Scout Investments Inc. boosted its position in Excelerate Energy by 1.1% in the 1st quarter. Scout Investments Inc. now owns 253,480 shares of the company’s stock valued at $4,020,000 after buying an additional 2,673 shares during the period. Renaissance Technologies LLC raised its stake in shares of Excelerate Energy by 7.9% during the second quarter. Renaissance Technologies LLC now owns 249,282 shares of the company’s stock valued at $4,597,000 after acquiring an additional 18,282 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Excelerate Energy by 13.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 176,334 shares of the company’s stock worth $3,252,000 after purchasing an additional 20,661 shares during the period. Institutional investors own 21.79% of the company’s stock.

About Excelerate Energy

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.