Excelerate Energy (NYSE:EE) Shares Up 6.3% Following Analyst Upgrade

Excelerate Energy, Inc. (NYSE:EE)’s share price shot up 6.3% during mid-day trading on Friday after Barclays raised their price target on the stock from $31.00 to $32.00. Barclays currently has an overweight rating on the stock. Excelerate Energy traded as high as $31.37 and last traded at $31.26. 107,775 shares changed hands during trading, a decline of 46% from the average session volume of 198,127 shares. The stock had previously closed at $29.40.

EE has been the topic of a number of other research reports. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $31.00 target price (up previously from $22.00) on shares of Excelerate Energy in a research report on Tuesday, January 7th. Northland Securities lifted their price objective on Excelerate Energy from $29.00 to $37.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. Morgan Stanley reiterated an “underweight” rating and issued a $29.00 target price (up from $25.00) on shares of Excelerate Energy in a report on Friday, January 31st. Stephens lifted their target price on Excelerate Energy from $28.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company boosted their price objective on Excelerate Energy from $19.00 to $22.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.17.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. TimesSquare Capital Management LLC purchased a new position in shares of Excelerate Energy during the 4th quarter valued at $13,854,000. D. E. Shaw & Co. Inc. lifted its position in shares of Excelerate Energy by 16.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 435,293 shares of the company’s stock valued at $13,168,000 after buying an additional 60,691 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Excelerate Energy by 14.1% during the 4th quarter. Renaissance Technologies LLC now owns 358,219 shares of the company’s stock valued at $10,836,000 after purchasing an additional 44,400 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in shares of Excelerate Energy by 94.3% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 350,128 shares of the company’s stock valued at $10,591,000 after purchasing an additional 169,924 shares during the period. Finally, Millennium Management LLC raised its stake in shares of Excelerate Energy by 12.0% during the 4th quarter. Millennium Management LLC now owns 327,534 shares of the company’s stock valued at $9,908,000 after purchasing an additional 35,199 shares during the period. Hedge funds and other institutional investors own 21.79% of the company’s stock.

Excelerate Energy Stock Performance

The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.12 and a current ratio of 4.12. The company has a market capitalization of $3.25 billion, a P/E ratio of 30.92, a price-to-earnings-growth ratio of 5.82 and a beta of 1.41. The business has a 50 day moving average of $30.27 and a 200-day moving average of $26.27.

Excelerate Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 12th will be paid a dividend of $0.06 per share. The ex-dividend date is Wednesday, March 12th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.78%. Excelerate Energy’s payout ratio is 24.24%.

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.