Excelerate Energy (NYSE:EE) Stock Price Down 9.8%

Excelerate Energy, Inc. (NYSE:EEGet Rating)’s stock price fell 9.8% on Friday . The stock traded as low as 21.88 and last traded at 21.88. 12,587 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 737,614 shares. The stock had previously closed at 24.25.

Analyst Ratings Changes

Several research analysts have issued reports on EE shares. Barclays increased their price target on Excelerate Energy to $30.00 in a report on Monday, August 15th. StockNews.com upgraded Excelerate Energy from a “sell” rating to a “hold” rating in a report on Friday, August 19th. Wells Fargo & Company upgraded shares of Excelerate Energy from an “equal weight” rating to an “overweight” rating and set a $29.00 target price for the company in a research note on Tuesday, July 5th. Finally, Morgan Stanley raised their price target on shares of Excelerate Energy from $31.00 to $32.00 and gave the company an “equal weight” rating in a research report on Thursday, May 26th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Excelerate Energy currently has a consensus rating of “Moderate Buy” and an average target price of 31.50.

Excelerate Energy Trading Down 8.6 %

The stock has a 50-day moving average of 24.50 and a 200-day moving average of 32.60. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.35 and a quick ratio of 2.13.

Excelerate Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 7th. Stockholders of record on Friday, August 19th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Thursday, August 18th.

Institutional Investors Weigh In On Excelerate Energy

Hedge funds have recently added to or reduced their stakes in the company. Prelude Capital Management LLC bought a new position in Excelerate Energy during the second quarter valued at approximately $1,057,000. Legal & General Group Plc bought a new position in shares of Excelerate Energy during the 2nd quarter valued at $5,360,000. ExodusPoint Capital Management LP purchased a new position in Excelerate Energy in the 2nd quarter worth $1,225,000. Goldman Sachs Group Inc. purchased a new position in Excelerate Energy in the 2nd quarter worth $1,675,000. Finally, Jane Street Group LLC purchased a new stake in Excelerate Energy during the second quarter valued at about $258,000. Institutional investors own 30.98% of the company’s stock.

Excelerate Energy Company Profile

(Get Rating)

Excelerate Energy, Inc provides flexible liquefied natural gas (LNG) solutions worldwide. The company offers floating 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.

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