Wall Street Zen Upgrades Excelerate Energy (NYSE:EE) to Buy

Excelerate Energy (NYSE:EE) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Sunday.

A number of other brokerages have also weighed in on EE. Raymond James Financial upgraded Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 target price for the company in a research note on Monday, January 5th. Jefferies Financial Group set a $37.00 price objective on shares of Excelerate Energy and gave the company a “buy” rating in a research report on Tuesday, October 28th. Tudor Pickering raised shares of Excelerate Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 17th. Morgan Stanley set a $30.00 price target on shares of Excelerate Energy and gave the company an “equal weight” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Excelerate Energy in a report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Excelerate Energy currently has an average rating of “Moderate Buy” and a consensus target price of $32.25.

Excelerate Energy Price Performance

Shares of Excelerate Energy stock opened at $30.83 on Friday. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of 21.41, a P/E/G ratio of 1.22 and a beta of 1.36. The firm’s 50-day moving average price is $27.69 and its two-hundred day moving average price is $26.28. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 0.56. Excelerate Energy has a 1-year low of $21.28 and a 1-year high of $32.99.

Excelerate Energy (NYSE:EE) last announced its earnings results on Wednesday, November 5th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.32 by $0.13. Excelerate Energy had a return on equity of 4.34% and a net margin of 3.46%.The business had revenue of $391.04 million for the quarter, compared to the consensus estimate of $270.82 million. Excelerate Energy’s revenue was up 102.2% compared to the same quarter last year. On average, equities analysts predict that Excelerate Energy will post 1.16 earnings per share for the current fiscal year.

Excelerate Energy declared that its Board of Directors has initiated a share repurchase plan on Thursday, December 11th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Institutional Trading of Excelerate Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. Kayne Anderson Capital Advisors LP bought a new position in shares of Excelerate Energy in the 2nd quarter worth $12,926,000. Wellington Management Group LLP lifted its stake in Excelerate Energy by 17.6% in the third quarter. Wellington Management Group LLP now owns 2,888,034 shares of the company’s stock valued at $72,750,000 after buying an additional 433,010 shares during the period. Emerald Advisers LLC bought a new position in Excelerate Energy during the second quarter worth about $11,740,000. Qube Research & Technologies Ltd grew its position in shares of Excelerate Energy by 328.4% during the 2nd quarter. Qube Research & Technologies Ltd now owns 453,345 shares of the company’s stock worth $13,292,000 after buying an additional 347,521 shares during the period. Finally, Squarepoint Ops LLC grew its position in shares of Excelerate Energy by 219.5% during the 3rd quarter. Squarepoint Ops LLC now owns 348,394 shares of the company’s stock worth $8,776,000 after buying an additional 239,358 shares during the period. Institutional investors own 21.79% of the company’s stock.

About Excelerate Energy

Excelerate Energy (NYSE: EE) is a Houston‐based energy infrastructure company specializing in liquefied natural gas (LNG) solutions. The company develops, owns and operates floating regasification units (FSRUs) that convert shipped LNG into natural gas for delivery into existing pipeline networks. Excelerate Energy’s integrated platform also includes specialized LNG carriers, proprietary regasification technology and on‐shore support facilities, enabling rapid deployment of import terminals without extensive capital construction.

Founded in the early 2000s, Excelerate Energy pioneered the first FSRU in 2007, demonstrating the flexibility and cost advantages of floating LNG import infrastructure.