Excelerate Energy’s (EE) “Underweight” Rating Reaffirmed at JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their underweight rating on shares of Excelerate Energy (NYSE:EE) in a research report released on Tuesday, MarketBeat.com reports. They currently have a $31.00 price objective on the stock, up from their prior price objective of $22.00.

Several other research analysts have also recently weighed in on the stock. Morgan Stanley upped their price target on shares of Excelerate Energy from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Stephens raised their price target on Excelerate Energy from $28.00 to $36.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Wells Fargo & Company boosted their price objective on Excelerate Energy from $19.00 to $22.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. Northland Securities raised their target price on shares of Excelerate Energy from $29.00 to $37.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Finally, Barclays boosted their price target on shares of Excelerate Energy from $22.00 to $26.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $28.71.

Excelerate Energy Stock Performance

Shares of EE stock opened at $29.58 on Tuesday. The firm’s 50 day moving average is $29.25 and its 200 day moving average is $23.36. The stock has a market capitalization of $3.14 billion, a P/E ratio of 29.88, a PEG ratio of 2.28 and a beta of 1.42. Excelerate Energy has a 12 month low of $13.38 and a 12 month high of $32.26. 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 (NYSE:EE) last posted its earnings results on Wednesday, November 6th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.03. The firm had revenue of $193.42 million for the quarter, compared to the consensus estimate of $194.09 million. Excelerate Energy had a return on equity of 1.39% and a net margin of 3.14%. During the same quarter in the prior year, the business posted $0.40 earnings per share. On average, sell-side analysts anticipate that Excelerate Energy will post 1.23 earnings per share for the current year.

Excelerate Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Wednesday, November 20th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.81%. This is a positive change from Excelerate Energy’s previous quarterly dividend of $0.03. The ex-dividend date was Wednesday, November 20th. Excelerate Energy’s payout ratio is presently 24.24%.

Institutional Trading of Excelerate Energy

Several institutional investors have recently added to or reduced their stakes in EE. Quarry LP increased its holdings in shares of Excelerate Energy by 28.9% in the third quarter. Quarry LP now owns 1,822 shares of the company’s stock worth $40,000 after buying an additional 409 shares during the period. Quantbot Technologies LP purchased a new position in Excelerate Energy in the 3rd quarter worth approximately $94,000. US Bancorp DE bought a new stake in Excelerate Energy in the third quarter valued at approximately $130,000. SG Americas Securities LLC purchased a new stake in shares of Excelerate Energy during the third quarter valued at approximately $161,000. Finally, Janus Henderson Group PLC purchased a new stake in shares of Excelerate Energy during the third quarter valued at approximately $200,000. 21.79% of the stock is currently 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.