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

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

Other research analysts have also issued research reports about the stock. Wells Fargo & Company set a $26.00 price objective on shares of Excelerate Energy in a research note on Monday. Jefferies Financial Group assumed coverage on shares of Excelerate Energy in a research note on Thursday, June 5th. They set a “buy” rating and a $39.00 price target on the stock. Finally, Citigroup restated an “outperform” rating on shares of Excelerate Energy in a research note on Wednesday. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $32.86.

Excelerate Energy Stock Down 2.5%

Excelerate Energy stock opened at $23.79 on Friday. The firm has a market cap of $2.71 billion, a PE ratio of 17.49 and a beta of 1.38. The company has a debt-to-equity ratio of 0.58, a quick ratio of 3.34 and a current ratio of 2.60. The firm’s 50 day moving average price is $27.13 and its two-hundred day moving average price is $27.92. Excelerate Energy has a twelve month low of $17.70 and a twelve month high of $32.99.

Excelerate Energy (NYSE:EE) last released its quarterly earnings data on Monday, August 11th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02. The firm had revenue of $204.60 million for the quarter, compared to analyst estimates of $259.82 million. Excelerate Energy had a net margin of 3.64% and a return on equity of 4.16%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. On average, research analysts predict that Excelerate Energy will post 1.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC grew its stake 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 buying an additional 1,186 shares during the last quarter. Sourcerock Group LLC acquired a new position in Excelerate Energy in the 2nd quarter valued at $1,173,000. Lazard Asset Management LLC grew its stake in Excelerate Energy by 609.3% in the 2nd quarter. Lazard Asset Management LLC now owns 24,798 shares of the company’s stock valued at $725,000 after buying an additional 21,302 shares during the last quarter. Fortress Investment Group LLC acquired a new position in Excelerate Energy in the 2nd quarter valued at $3,130,000. Finally, Boothbay Fund Management LLC acquired a new position in Excelerate Energy in the 2nd quarter valued at $310,000. 21.79% of the stock is currently owned by institutional investors and hedge funds.

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.