Excelerate Energy (NYSE:EE) Sees Unusually-High Trading Volume – Time to Buy?

Excelerate Energy, Inc. (NYSE:EE) shares saw strong trading volume on Wednesday . 439,028 shares traded hands during trading, an increase of 83% from the previous session’s volume of 240,468 shares.The stock last traded at $26.51 and had previously closed at $26.66.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EE. 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 note on Tuesday, January 7th. Wells Fargo & Company reiterated an “underweight” rating on shares of Excelerate Energy in a research report on Friday, March 28th. Northland Securities raised their target price on Excelerate Energy from $29.00 to $37.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th. Stephens reaffirmed an “overweight” rating and issued a $36.00 price target on shares of Excelerate Energy in a report on Monday, March 3rd. Finally, Barclays boosted their price objective on Excelerate Energy from $31.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Three equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. According to MarketBeat.com, Excelerate Energy presently has a consensus rating of “Hold” and an average target price of $31.17.

Excelerate Energy Price Performance

The stock has a market cap of $2.84 billion, a PE ratio of 27.05, a price-to-earnings-growth ratio of 5.82 and a beta of 1.39. The stock’s fifty day moving average is $29.52 and its 200-day moving average is $27.94. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.12 and a quick ratio of 4.12.

Excelerate Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 12th were issued a dividend of $0.06 per share. The ex-dividend date was Wednesday, March 12th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.90%. Excelerate Energy’s dividend payout ratio is currently 19.20%.

Institutional Trading of Excelerate Energy

Several institutional investors have recently made changes to their positions in EE. Wellington Management Group LLP purchased a new stake in Excelerate Energy in the 4th quarter valued at about $5,921,000. Jefferies Financial Group Inc. acquired a new stake in shares of Excelerate Energy during the fourth quarter valued at about $275,000. Mackenzie Financial Corp raised its stake in shares of Excelerate Energy by 3.9% in the 4th quarter. Mackenzie Financial Corp now owns 72,646 shares of the company’s stock valued at $2,198,000 after acquiring an additional 2,740 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of Excelerate Energy by 154.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 38,365 shares of the company’s stock worth $1,161,000 after acquiring an additional 23,281 shares during the last quarter. Finally, 10Elms LLP purchased a new position in shares of Excelerate Energy during the 4th quarter worth approximately $76,000. Hedge funds and other 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.