Excelerate Energy (NYSE:EE) Shares Gap Down – Here’s What Happened

Excelerate Energy, Inc. (NYSE:EE) gapped down prior to trading on Tuesday . The stock had previously closed at $31.70, but opened at $30.82. Excelerate Energy shares last traded at $28.42, with a volume of 124,797 shares.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on EE shares. Stephens upped their price target on shares of Excelerate Energy from $28.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Wells Fargo & Company raised their target price on shares of Excelerate Energy from $19.00 to $22.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. Barclays raised their price objective on shares of Excelerate Energy from $22.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $31.00 target price (up from $22.00) on shares of Excelerate Energy in a research report on Tuesday. Finally, Morgan Stanley raised their price target on Excelerate Energy from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Excelerate Energy currently has an average rating of “Hold” and a consensus price target of $28.71.

Excelerate Energy Stock Down 6.6 %

The company has a debt-to-equity ratio of 0.34, a current ratio of 4.12 and a quick ratio of 4.12. The stock has a 50 day moving average price of $29.13 and a 200-day moving average price of $23.27. The stock has a market capitalization of $3.15 billion, a P/E ratio of 29.90, a PEG ratio of 2.28 and a beta of 1.42.

Excelerate Energy (NYSE:EE) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Excelerate Energy had a return on equity of 1.39% and a net margin of 3.14%. The firm had revenue of $193.42 million during the quarter, compared to analyst estimates of $194.09 million. During the same quarter in the prior year, the firm posted $0.40 earnings per share. As a group, research analysts expect that Excelerate Energy, Inc. will post 1.23 EPS for the current fiscal year.

Excelerate Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Wednesday, November 20th were issued a dividend of $0.06 per share. 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 0.81%. The ex-dividend date was Wednesday, November 20th. Excelerate Energy’s dividend payout ratio is currently 24.24%.

Institutional Investors Weigh In On Excelerate Energy

Large investors have recently modified their holdings of the stock. PDT Partners LLC lifted its holdings in Excelerate Energy by 85.5% in the third quarter. PDT Partners LLC now owns 46,971 shares of the company’s stock worth $1,034,000 after buying an additional 21,645 shares during the period. Barclays PLC boosted its position in shares of Excelerate Energy by 299.8% during the third quarter. Barclays PLC now owns 26,822 shares of the company’s stock valued at $591,000 after purchasing an additional 20,113 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in Excelerate Energy in the third quarter worth $214,000. US Bancorp DE bought a new position in Excelerate Energy in the third quarter worth $130,000. Finally, Cubist Systematic Strategies LLC lifted its position in Excelerate Energy by 836.0% during the second quarter. Cubist Systematic Strategies LLC now owns 35,707 shares of the company’s stock valued at $658,000 after buying an additional 31,892 shares during the period. Institutional investors own 21.79% of the company’s stock.

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.