Excelerate Energy stock hits 52-week high at $28.61

In a remarkable display of market confidence, Excelerate Energy Inc. (EE) stock has soared to a 52-week high, reaching a price level of $28.61. This peak reflects a significant uptrend for the company, which has seen an impressive 1-year change of 57.82%. Investors have rallied behind Excelerate Energy, propelling the stock to new heights over the past year, as the company continues to capitalize on strategic initiatives and robust industry demand. The 52-week high milestone underscores the positive sentiment surrounding the firm's performance and future prospects.

In other recent news, Excelerate Energy has reported a strong Q3 2024 performance with an increase in adjusted EBITDA to $92 million, marking a 4% rise from the previous quarter. The company also announced an increased quarterly dividend to $0.06 per share, reflecting its robust cash generation and financial stability. Furthermore, Excelerate Energy's strategic focus on its FSRU and terminals business is backed by a contract portfolio expected to generate around $4 billion in future revenue.

The company has also made progress on Hull 3407, a newbuild FSRU, and is considering acquisitions of LNG carriers. In addition, it has secured a 15-year LNG deal with Petrobangla and a 20-year agreement with Venture Global, and is exploring LNG infrastructure opportunities in Vietnam and Alaska.

The company's total debt stands at $716 million, offset by $608 million in cash and full $350 million revolver capacity. It has a two-year $50 million share repurchase program, with $28 million already utilized. Finally, Excelerate Energy has raised its 2024 adjusted EBITDA guidance to between $335 million and $345 million.

InvestingPro Insights

Excelerate Energy's recent stock performance aligns with several key metrics and insights from InvestingPro. The company's stock is currently trading near its 52-week high, with a price that is 96.29% of its peak, confirming the strong market sentiment described in the article. This upward trajectory is further supported by InvestingPro data showing impressive returns of 41.34% over the last three months and 48.06% over the last six months.

InvestingPro Tips highlight that Excelerate Energy has raised its dividend for 3 consecutive years, which may be contributing to investor confidence. Additionally, the company operates with a moderate level of debt, potentially providing financial flexibility to capitalize on growth opportunities.

For readers seeking a deeper understanding of Excelerate Energy's financial health and market position, InvestingPro offers 12 additional tips, providing a comprehensive analysis to inform investment decisions.

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