Excelerate Energy stock soars to all-time high of $32.27 By Investing.com

Excelerate Energy Inc. (EE) hit an all-time high with its stock price rising to $32.27 InvestingPro: According to the data, the company maintains a good financial health score of 4.12 times its current liabilities.This benchmark highlights the company’s remarkable growth period, which reflects a significant 118.04% increase in the stock’s value over the past year growing confidence in Excelerate Energy’s market position and future prospects, driving the stock to new heights and noting the Company’s strategic initiatives in the energy sector and strong financial results, including a significant 140% dividend increase, likely contributed to this impressive 1-year turnaround, which signals investor optimism about its trajectory. InvestingPro: analysis suggests the stock may still have upside potential with 12 additional exclusive insights available to subscribers.

In other recent news, Excelerate Energy made significant progress in its financial operations and strategic initiatives.The company reported solid performance for the third quarter of 2024, with adjusted EBITDA up 4% from the previous quarter to $92 million, and quarterly dividend increased to $0.06 per share.Excelerate Energy also raised its 2024 adjusted EBITDA guidance to between $335 million and $345 million, reflecting its stable financial position.

JPMorgan has revised its stance on Excelerate Energy to Underweight due to the company’s focus on emerging markets and lower risk/reward potential compared to peers, despite the company’s strong liquidity at a current ratio of 4.12 strong ability to meet short-term obligations.

Conversely, Stephens reaffirmed an Overweight rating on Excelerate Energy stock, raising its price target to $36.00 from $28.00.The firm’s decision is based on confidence in the company’s growth trajectory in the global LNG market and Excelerate Energy’s unique position: as the only company with a new-build floating storage regasification unit (FSRU).

The company also has a strong pipeline of 12 priority projects with expected start dates ranging from 2025 to 2029. Excelerate Energy’s strategic focus on its FSRU and terminals business is supported by a contract portfolio expected to generate approx. $4 billion in revenue The company secured a 15-year LNG contract with Petrobangla and a 20-year contract with Venture Global and is exploring potential LNG infrastructure opportunities in Vietnam and Alaska.These latest developments show a clear vision for the company’s future growth.

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