Morgan Stanley Raises Excelerate Energy (NYSE:EE) Price Target to $25.00

Excelerate Energy (NYSE:EE) had its target price lifted by Morgan Stanley from $23.00 to $25.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other equities analysts have also commented on EE. Stephens increased their price objective on Excelerate Energy from $21.00 to $28.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Wells Fargo & Company raised their price target on Excelerate Energy from $19.00 to $22.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Northland Securities raised their price target on Excelerate Energy from $25.00 to $29.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Finally, Barclays raised their price target on Excelerate Energy from $22.00 to $26.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $25.67.

Excelerate Energy Price Performance

Shares of Excelerate Energy stock opened at $27.54 on Thursday. The company has a current ratio of 4.12, a quick ratio of 4.12 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $2.93 billion, a PE ratio of 27.82 and a beta of 1.28. The business’s 50-day moving average price is $22.91 and its 200-day moving average price is $20.05. Excelerate Energy has a 12 month low of $13.38 and a 12 month high of $28.60.

Excelerate Energy (NYSE:EE) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03. The firm had revenue of $193.42 million for the quarter, compared to analyst estimates of $194.09 million. Excelerate Energy had a return on equity of 1.39% and a net margin of 3.14%. During the same period in the prior year, the company earned $0.40 EPS. Sell-side analysts forecast that Excelerate Energy will post 1.17 EPS for the current fiscal year.

Excelerate Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Wednesday, November 20th will be given a $0.06 dividend. This is a positive change from Excelerate Energy’s previous quarterly dividend of $0.03. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Wednesday, November 20th. Excelerate Energy’s dividend payout ratio (DPR) is currently 10.10%.

Institutional Investors Weigh In On Excelerate Energy

Large investors have recently made changes to their positions in the business. nVerses Capital LLC bought a new stake in shares of Excelerate Energy in the 2nd quarter worth approximately $26,000. Public Employees Retirement System of Ohio purchased a new position in shares of Excelerate Energy in the 1st quarter valued at approximately $38,000. Quarry LP lifted its stake in shares of Excelerate Energy by 28.9% in the 3rd quarter. Quarry LP now owns 1,822 shares of the company’s stock valued at $40,000 after purchasing an additional 409 shares during the period. Quantbot Technologies LP purchased a new position in shares of Excelerate Energy in the 3rd quarter valued at approximately $94,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Excelerate Energy in the 1st quarter valued at approximately $118,000. 21.79% of the stock is currently owned by 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.