Wells Fargo & Company Forecasts Strong Price Appreciation for Excelerate Energy (NYSE:EE) Stock

Excelerate Energy (NYSE:EE) had its target price upped by Wells Fargo & Company from $19.00 to $22.00 in a report issued on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.

Other research analysts also recently issued reports about the company. Stephens boosted their price objective on Excelerate Energy from $21.00 to $28.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Barclays upped their price target on shares of Excelerate Energy from $22.00 to $26.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Finally, Northland Securities lifted their target price on shares of Excelerate Energy from $25.00 to $29.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Excelerate Energy has a consensus rating of “Moderate Buy” and a consensus target price of $25.43.

Excelerate Energy Trading Down 0.2 %

Excelerate Energy stock opened at $27.52 on Tuesday. The business has a 50-day simple moving average of $22.72 and a two-hundred day simple moving average of $19.93. Excelerate Energy has a 52-week low of $13.38 and a 52-week high of $28.60. The company has a quick ratio of 4.12, a current ratio of 4.12 and a debt-to-equity ratio of 0.34. The company has a market cap of $2.95 billion, a P/E ratio of 27.80 and a beta of 1.28.

Excelerate Energy (NYSE:EE) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Excelerate Energy had a net margin of 3.14% and a return on equity of 1.39%. The firm had revenue of $193.42 million during the quarter, compared to the consensus estimate of $194.09 million. During the same quarter in the previous year, the firm posted $0.40 EPS. Analysts predict that Excelerate Energy will post 1.18 EPS for the current year.

Excelerate Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Wednesday, November 20th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.87%. 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 (DPR) is 24.24%.

Hedge Funds Weigh In On Excelerate Energy

Several hedge funds have recently added to or reduced their stakes in the company. nVerses Capital LLC bought a new stake in shares of Excelerate Energy during the second quarter worth $26,000. Quarry LP boosted its position in 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 buying an additional 409 shares during the period. Public Employees Retirement System of Ohio bought a new position in Excelerate Energy in the 1st quarter worth about $38,000. Quantbot Technologies LP purchased a new position in shares of Excelerate Energy during the third quarter worth approximately $94,000. Finally, US Bancorp DE bought a new stake in shares of Excelerate Energy during the third quarter valued at approximately $130,000. 21.79% of the stock is currently owned by institutional investors.

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.