Wall Street Zen Downgrades Excelerate Energy (NYSE:EE) to Hold

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

EE has been the topic of a number of other research reports. Jefferies Financial Group initiated coverage on Excelerate Energy in a report on Thursday, June 5th. They issued a “buy” rating and a $39.00 target price on the stock. Wells Fargo & Company reissued an “underweight” rating on shares of Excelerate Energy in a report on Friday, March 28th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Excelerate Energy presently has an average rating of “Hold” and a consensus target price of $32.29.

Excelerate Energy Stock Performance

Shares of Excelerate Energy stock opened at $26.66 on Friday. The business has a 50-day moving average of $29.02 and a 200 day moving average of $28.79. Excelerate Energy has a 12 month low of $17.54 and a 12 month high of $32.99. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 18.14, a price-to-earnings-growth ratio of 0.89 and a beta of 1.40. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.34 and a quick ratio of 3.34.

Excelerate Energy (NYSE:EE) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.10. The business had revenue of $315.09 million during the quarter, compared to analysts’ expectations of $207.87 million. Excelerate Energy had a return on equity of 2.20% and a net margin of 3.93%. The company’s revenue was up 14.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Excelerate Energy will post 1.16 earnings per share for the current year.

Institutional Investors Weigh In On Excelerate Energy

Several large investors have recently modified their holdings of EE. Nuveen LLC acquired a new stake in shares of Excelerate Energy in the first quarter worth $7,102,000. Wellington Management Group LLP acquired a new stake in shares of Excelerate Energy in the fourth quarter worth $5,921,000. Raymond James Financial Inc. acquired a new stake in shares of Excelerate Energy in the fourth quarter worth $5,510,000. Jacobs Levy Equity Management Inc. boosted its position in shares of Excelerate Energy by 94.3% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 350,128 shares of the company’s stock worth $10,591,000 after buying an additional 169,924 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of Excelerate Energy by 45.9% in the first quarter. Russell Investments Group Ltd. now owns 435,948 shares of the company’s stock worth $12,503,000 after buying an additional 137,120 shares during the period. 21.79% of the stock is owned by institutional investors.

About Excelerate Energy

Excelerate Energy, Inc provides flexible liquefied natural gas (LNG) solutions worldwide. The company offers regasification services, including floating storage and regasification units (FSRUs), infrastructure development, and LNG and natural gas supply, procurement, and distribution services; LNG terminal services; and natural gas supply to-power projects.