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

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

Several other equities analysts have also weighed in on the stock. Morgan Stanley set a $30.00 price objective on shares of Excelerate Energy and gave the company an “equal weight” rating in a research report on Thursday. Jefferies Financial Group set a $37.00 price target on shares of Excelerate Energy and gave the company a “buy” rating in a report on Tuesday, October 28th. Wells Fargo & Company set a $26.00 price objective on shares of Excelerate Energy in a research report on Monday, August 11th. JPMorgan Chase & Co. assumed coverage on Excelerate Energy in a research report on Monday, September 8th. They issued a “neutral” rating and a $30.00 target price on the stock. Finally, DNB Markets set a $31.00 price target on Excelerate Energy in a report on Wednesday, September 10th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $32.38.

Excelerate Energy Price Performance

NYSE:EE opened at $27.55 on Friday. Excelerate Energy has a 12-month low of $21.28 and a 12-month high of $32.99. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of 19.13 and a beta of 1.38. The stock’s 50 day moving average price is $25.53 and its two-hundred day moving average price is $26.61. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 0.56.

Excelerate Energy (NYSE:EE) last posted its earnings results on Wednesday, November 5th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates 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 $245.16 million for the quarter, compared to analyst estimates of $270.82 million. Excelerate Energy’s revenue was up 102.2% compared to the same quarter last year. On average, analysts anticipate that Excelerate Energy will post 1.16 earnings per share for the current year.

Hedge Funds Weigh In On Excelerate Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its position in shares of Excelerate Energy by 19.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,438 shares of the company’s stock valued at $61,000 after acquiring an additional 392 shares during the period. Bailard Inc. lifted its position in Excelerate Energy by 1.6% during the third quarter. Bailard Inc. now owns 25,500 shares of the company’s stock worth $642,000 after purchasing an additional 400 shares during the period. Summit Global Investments lifted its position in Excelerate Energy by 3.2% during the third quarter. Summit Global Investments now owns 12,973 shares of the company’s stock worth $327,000 after purchasing an additional 406 shares during the period. Rhumbline Advisers grew its stake in Excelerate Energy by 1.5% during the first quarter. Rhumbline Advisers now owns 31,903 shares of the company’s stock worth $915,000 after buying an additional 471 shares in the last quarter. Finally, New York State Teachers Retirement System increased its holdings in Excelerate Energy by 32.8% in the 3rd quarter. New York State Teachers Retirement System now owns 2,081 shares of the company’s stock valued at $52,000 after buying an additional 514 shares during the period. 21.79% of the stock is owned by institutional investors and hedge funds.

Excelerate Energy Company Profile

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.