Excelerate Energy (NYSE:EE) Reaches New 52-Week Low at $17.69

Excelerate Energy, Inc. (NYSE:EE)’s stock price hit a new 52-week low on Tuesday . The stock traded as low as $17.69 and last traded at $17.70, with a volume of 27573 shares. The stock had previously closed at $17.98.

Wall Street Analyst Weigh In

EE has been the topic of a number of recent analyst reports. Barclays decreased their target price on shares of Excelerate Energy from $30.00 to $26.00 in a research note on Tuesday, July 18th. Raymond James reduced their price objective on shares of Excelerate Energy from $30.00 to $27.00 and set an “outperform” rating on the stock in a research report on Friday, August 11th. Morgan Stanley reissued an “equal weight” rating and issued a $33.00 target price on shares of Excelerate Energy in a report on Tuesday, July 25th. JPMorgan Chase & Co. cut their target price on shares of Excelerate Energy from $28.00 to $27.00 in a research note on Wednesday, July 12th. Finally, StockNews.com started coverage on shares of Excelerate Energy in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Excelerate Energy has an average rating of “Moderate Buy” and an average price target of $28.83.

Excelerate Energy Stock Down 0.8 %

The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 16.66 and a beta of 1.32. The company has a quick ratio of 3.41, a current ratio of 3.56 and a debt-to-equity ratio of 0.45. The company’s 50 day moving average price is $19.82 and its 200 day moving average price is $20.48.

Excelerate Energy (NYSE:EE) last issued its quarterly earnings data on Wednesday, August 9th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.08). Excelerate Energy had a net margin of 1.48% and a return on equity of 1.86%. The company had revenue of $432.37 million during the quarter, compared to analyst estimates of $255.68 million. As a group, research analysts forecast that Excelerate Energy, Inc. will post 1.1 earnings per share for the current fiscal year.

Excelerate Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Wednesday, August 23rd were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Tuesday, August 22nd. This represents a $0.10 annualized dividend and a dividend yield of 0.56%. Excelerate Energy’s dividend payout ratio (DPR) is presently 9.26%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new stake in Excelerate Energy in the 2nd quarter valued at about $27,000. Chilton Capital Management LLC purchased a new position in Excelerate Energy during the first quarter worth approximately $41,000. Sunbelt Securities Inc. acquired a new position in Excelerate Energy during the first quarter worth $78,000. Citigroup Inc. boosted its stake in Excelerate Energy by 643.1% during the second quarter. Citigroup Inc. now owns 5,856 shares of the company’s stock worth $119,000 after buying an additional 5,068 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new stake in Excelerate Energy in the 2nd quarter valued at $125,000. 21.78% of the stock is owned by institutional investors and hedge funds.

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; natural gas supply to-power projects; and a suite of smaller-scale gas distribution solutions.