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

Excelerate Energy, Inc. (NYSE:EE) saw its shares gap down at the opening of the market on Tuesday. The stock, which had closed the previous day at $28.68, opened lower at $27.00. As of the latest trading session, Excelerate Energy shares were priced at $27.04, and trading volume reached 1,255,926 shares.

Analyst Ratings Overview

Excelerate Energy has attracted attention in recent research reports. Morgan Stanley maintained an "underweight" rating for the stock, raising its price target to $29.00 from $25.00 in a note published on January 31st. Similarly, JPMorgan Chase & Co. also kept an "underweight" rating while adjusting its target price to $31.00 from $22.00 on January 7th. In contrast, Northland Securities upgraded their price target from $29.00 to $37.00 and assigned an "outperform" rating as of December 18th. Another firm, Wells Fargo & Company, reiterated an "underweight" rating in a recent report, while Stephens maintained an "overweight" rating and set a target price of $36.00 on March 3rd. Currently, analysts have a mixed view on Excelerate Energy: three have assigned sell ratings, three are bullish, leading to an overall average rating of "Hold" and a target price of $31.17, according to data from MarketBeat.

Recent Stock Performance

Excelerate Energy's stock has declined by 5.4%. Its 50-day simple moving average is noted at $29.64, while its 200-day moving average stands at $27.88. The company's financial metrics showcase a quick ratio and current ratio of 4.12, paired with a relatively low debt-to-equity ratio of 0.34. As of now, Excelerate Energy has a market capitalization of $2.87 billion, a PE ratio of 27.41, and a price-to-earnings-growth (PEG) ratio of 5.82 while exhibiting a beta of 1.39, indicating higher than average volatility.

Dividend Declaration

In recent news, Excelerate Energy announced a quarterly dividend of $0.06 per share, which was paid on March 27th to record shareholders as of March 12th. The annual dividend, totaling $0.24, provides an attractive yield of 0.88%. Currently, the dividend payout ratio is at 19.20%.

Institutional Investors' Activity

Institutional investors have made adjustments to their holdings in Excelerate Energy. In the fourth quarter, Intech Investment Management LLC acquired a new stake worth about $220,000. Notably, JPMorgan Chase & Co. increased its position by 34.4% during the third quarter, now owning 50,046 shares valued at approximately $1,102,000. Other recent activities include Ritholtz Wealth Management acquiring a new stake valued at around $580,000 and Principal Financial Group purchasing shares worth about $283,000. Institutional ownership of Excelerate Energy currently stands at 21.79%.

About the Company

Excelerate Energy, Inc. specializes in providing flexible liquefied natural gas (LNG) solutions across the globe. Their services encompass regasification, which includes floating storage and regasification units (FSRUs), as well as infrastructure development and LNG supply operations.

Final Thoughts

Market conditions can provoke uncertainty for many investors when considering whether to sell. Before making any decisions regarding your investment in Excelerate Energy, it might be prudent to evaluate the current market insights and analyst opinions.

Excelerate, Energy, Stocks