Excelerate Energy (NYSE:EE) Shares Gap Down – Time to Sell?

Shares of Excelerate Energy, Inc. (NYSE:EE) gapped down before the market opened on Tuesday . The stock had previously closed at $28.68, but opened at $27.00. Excelerate Energy shares last traded at $27.04, with a volume of 1,255,926 shares changing hands.

Analyst Upgrades and Downgrades

EE has been the topic of several recent research reports. Morgan Stanley reaffirmed an “underweight” rating and issued a $29.00 price target (up from $25.00) on shares of Excelerate Energy in a research note on Friday, January 31st. JPMorgan Chase & Co. reaffirmed 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. Northland Securities increased their price target on shares of Excelerate Energy from $29.00 to $37.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th. Wells Fargo & Company restated an “underweight” rating on shares of Excelerate Energy in a research report on Friday. Finally, Stephens reiterated an “overweight” rating and set a $36.00 target price on shares of Excelerate Energy in a report on Monday, March 3rd. Three investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $31.17.

Excelerate Energy Stock Down 5.4 %

The company’s fifty day simple moving average is $29.64 and its 200 day simple moving average is $27.88. 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 firm has a market capitalization of $2.87 billion, a PE ratio of 27.41, a price-to-earnings-growth ratio of 5.82 and a beta of 1.39.

Excelerate Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 12th were given a dividend of $0.06 per share. The ex-dividend date was Wednesday, March 12th. This represents a $0.24 annualized dividend and a dividend yield of 0.88%. Excelerate Energy’s dividend payout ratio is presently 19.20%.

Hedge Funds Weigh In On Excelerate Energy

Institutional investors have recently added to or reduced their stakes in the company. Intech Investment Management LLC purchased a new stake in shares of Excelerate Energy in the 4th quarter worth about $220,000. JPMorgan Chase & Co. grew its holdings in Excelerate Energy by 34.4% in the third quarter. JPMorgan Chase & Co. now owns 50,046 shares of the company’s stock worth $1,102,000 after purchasing an additional 12,802 shares during the period. Ritholtz Wealth Management bought a new position in shares of Excelerate Energy during the fourth quarter valued at approximately $580,000. Principal Financial Group Inc. purchased a new position in shares of Excelerate Energy during the fourth quarter valued at approximately $283,000. Finally, Proficio Capital Partners LLC bought a new stake in shares of Excelerate Energy in the 4th quarter worth approximately $403,000. Institutional investors own 21.79% of the company’s stock.

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.