Excelerate Energy (NYSE:EE) Shares Gap Down – Should You Sell?

Shares of Excelerate Energy, Inc. (NYSE:EE) gapped down before the market opened 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Northland Securities upped their target price on shares of Excelerate Energy from $29.00 to $37.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Morgan Stanley raised their target price on Excelerate Energy from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $31.00 price target (up previously from $22.00) on shares of Excelerate Energy in a report on Tuesday. 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 report on Tuesday, November 12th. Finally, Stephens boosted their price target on Excelerate Energy from $28.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Excelerate Energy has a consensus rating of “Hold” and an average target price of $28.71.

Excelerate Energy Stock Down 0.5 %

The stock’s 50 day simple moving average is $29.36 and its 200 day simple moving average is $23.40. The stock has a market capitalization of $3.13 billion, a P/E ratio of 29.74, a P/E/G ratio of 2.28 and a beta of 1.42. 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 released its quarterly earnings data on Wednesday, November 6th. The company reported $0.35 EPS for the quarter, topping 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 company posted $0.40 earnings per share. As a group, research analysts predict that Excelerate Energy, Inc. will post 1.23 EPS for the current fiscal year.

Excelerate Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Wednesday, November 20th were given a dividend of $0.06 per share. The ex-dividend date was Wednesday, November 20th. This represents a $0.24 annualized dividend and a dividend yield of 0.82%. This is a positive change from Excelerate Energy’s previous quarterly dividend of $0.03. Excelerate Energy’s dividend payout ratio is currently 24.24%.

Hedge Funds Weigh In On Excelerate Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EE. Quarry LP boosted its stake in Excelerate Energy by 28.9% during 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 in the last quarter. Rhumbline Advisers boosted its stake in Excelerate Energy by 9.6% during the second quarter. Rhumbline Advisers now owns 29,243 shares of the company’s stock valued at $539,000 after buying an additional 2,553 shares in the last quarter. Susquehanna Fundamental Investments LLC grew its holdings in Excelerate Energy by 5.2% during the second quarter. Susquehanna Fundamental Investments LLC now owns 58,203 shares of the company’s stock worth $1,073,000 after acquiring an additional 2,900 shares during the period. Verition Fund Management LLC raised its position in Excelerate Energy by 27.8% in the third quarter. Verition Fund Management LLC now owns 17,724 shares of the company’s stock worth $390,000 after acquiring an additional 3,855 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Excelerate Energy in the 3rd quarter valued at about $94,000. 21.79% of the stock is 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.