Wells Fargo & Company Issues Positive Forecast for Excelerate Energy (NYSE:EE) Stock Price

Excelerate Energy (NYSE:EE) had its target price lifted by research analysts at Wells Fargo & Company from $37.00 to $38.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 7.19% from the stock’s previous close.

EE has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $42.00 price target on shares of Excelerate Energy in a report on Friday, May 8th. Wall Street Zen raised shares of Excelerate Energy from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Morgan Stanley set a $41.00 price objective on shares of Excelerate Energy in a research report on Friday. Zacks Research upgraded shares of Excelerate Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Finally, Barclays upped their target price on Excelerate Energy from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday. Three research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Excelerate Energy Stock Performance

Shares of Excelerate Energy stock opened at $35.45 on Wednesday. Excelerate Energy has a 12 month low of $22.86 and a 12 month high of $43.17. The company has a current ratio of 1.80, a quick ratio of 2.60 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $4.04 billion, a PE ratio of 24.45, a PEG ratio of 1.27 and a beta of 1.22. The stock’s fifty day simple moving average is $36.84 and its 200 day simple moving average is $36.24.

Excelerate Energy (NYSE:EE) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. Excelerate Energy had a return on equity of 2.24% and a net margin of 3.23%.The business had revenue of $329.27 million for the quarter, compared to analysts’ expectations of $344.27 million. During the same quarter in the previous year, the business posted $0.34 EPS. Excelerate Energy’s revenue for the quarter was up 60.9% on a year-over-year basis. On average, research analysts predict that Excelerate Energy will post 1.54 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in EE. Arax Advisory Partners increased its holdings in Excelerate Energy by 791.9% in the fourth quarter. Arax Advisory Partners now owns 883 shares of the company’s stock valued at $25,000 after purchasing an additional 784 shares during the period. Global Retirement Partners LLC acquired a new position in Excelerate Energy in the fourth quarter valued at approximately $33,000. Essex Investment Management Co. LLC bought a new stake in Excelerate Energy in the fourth quarter valued at $41,000. CIBC Private Wealth Group LLC acquired a new position in shares of Excelerate Energy during the fourth quarter worth approximately $56,000. Finally, Tower Research Capital LLC TRC lifted its position in Excelerate Energy by 157.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,941 shares of the company’s stock valued at $57,000 after acquiring an additional 1,186 shares in the last quarter. Institutional investors and hedge funds 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.