Excelerate Energy (NYSE:EE) Stock Rating Lowered by Wall Street Zen

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

A number of other research analysts have also recently issued reports on the stock. Barclays lifted their price objective on shares of Excelerate Energy from $33.00 to $41.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. Dnb Carnegie cut shares of Excelerate Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of Excelerate Energy in a research note on Friday, March 27th. Raymond James Financial raised Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 price objective for the company in a report on Monday, January 5th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $44.00 price objective on shares of Excelerate Energy in a research note on Friday, February 6th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

Excelerate Energy Price Performance

Shares of NYSE:EE opened at $32.70 on Friday. Excelerate Energy has a twelve month low of $21.28 and a twelve month high of $43.17. The stock’s 50 day moving average is $37.06 and its 200-day moving average is $30.89. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of 24.77, a PEG ratio of 1.03 and a beta of 1.41.

Excelerate Energy (NYSE:EE) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). Excelerate Energy had a net margin of 3.19% and a return on equity of 4.12%. The business had revenue of $317.57 million during the quarter, compared to analyst estimates of $293.49 million. During the same period in the previous year, the business posted $0.40 EPS. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. Sell-side analysts forecast that Excelerate Energy will post 1.16 EPS for the current fiscal year.

Excelerate Energy declared that its board has authorized a share repurchase plan on Thursday, December 11th that permits the company to buyback $75.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 2.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Oliver Simpson sold 6,000 shares of the business’s stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $34.15, for a total transaction of $204,900.00. Following the transaction, the insider directly owned 51,719 shares in the company, valued at approximately $1,766,203.85. The trade was a 10.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.83% of the company’s stock.

Hedge Funds Weigh In On Excelerate Energy

Several hedge funds have recently modified their holdings of the company. Martingale Asset Management L P lifted its holdings in Excelerate Energy by 0.4% during the fourth quarter. Martingale Asset Management L P now owns 74,192 shares of the company’s stock worth $2,081,000 after acquiring an additional 281 shares during the period. PNC Financial Services Group Inc. grew its stake in Excelerate Energy by 19.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,438 shares of the company’s stock valued at $61,000 after purchasing an additional 392 shares during the period. Bailard Inc. increased its position in shares of Excelerate Energy by 1.6% during the 3rd quarter. Bailard Inc. now owns 25,500 shares of the company’s stock valued at $642,000 after purchasing an additional 400 shares during the last quarter. Summit Global Investments increased its position in shares of Excelerate Energy by 3.2% during the 3rd quarter. Summit Global Investments now owns 12,973 shares of the company’s stock valued at $327,000 after purchasing an additional 406 shares during the last quarter. Finally, New York State Teachers Retirement System raised its stake in shares of Excelerate Energy by 32.8% during the 3rd quarter. New York State Teachers Retirement System now owns 2,081 shares of the company’s stock worth $52,000 after purchasing an additional 514 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.