Excelerate Energy (NYSE:EE) Given New $40.00 Price Target at Morgan Stanley

Excelerate Energy (NYSE:EE) had its target price lowered by Morgan Stanley from $41.00 to $40.00 in a report published on Tuesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other research analysts have also recently issued reports on the stock. Barclays increased their price target on shares of Excelerate Energy from $33.00 to $41.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Dnb Carnegie cut Excelerate Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 19th. Wall Street Zen downgraded Excelerate Energy from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $44.00 price target on shares of Excelerate Energy in a report on Friday, February 6th. Finally, Wells Fargo & Company lifted their price target on Excelerate Energy from $29.00 to $39.00 and gave the company an “equal weight” rating in a research note on Friday, February 27th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

Excelerate Energy Stock Performance

Shares of EE opened at $34.08 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.43 and a current ratio of 2.43. The stock has a market capitalization of $3.89 billion, a P/E ratio of 25.82, a P/E/G ratio of 1.12 and a beta of 1.41. The company’s fifty day moving average is $36.44 and its two-hundred day moving average is $31.76. Excelerate Energy has a 1 year low of $21.28 and a 1 year high of $43.17.

Excelerate Energy (NYSE:EE) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The firm had revenue of $317.57 million for the quarter, compared to analysts’ expectations of $293.49 million. Excelerate Energy had a return on equity of 4.12% and a net margin of 3.19%.The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS. On average, sell-side analysts predict that Excelerate Energy will post 1.73 earnings per share for the current year.

Excelerate Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Wednesday, March 11th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $0.32 dividend on an annualized basis and a yield of 0.9%. Excelerate Energy’s payout ratio is currently 24.24%.

Insiders Place Their Bets

In other Excelerate Energy news, insider Oliver Simpson sold 6,000 shares of the stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $34.15, for a total value of $204,900.00. Following the completion of the transaction, the insider directly owned 51,719 shares of the company’s stock, valued at approximately $1,766,203.85. This trade represents a 10.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.83% of the company’s stock.

Institutional Investors Weigh In On Excelerate Energy

Several institutional investors have recently modified their holdings of the company. AQR Capital Management LLC grew its holdings in shares of Excelerate Energy by 91.7% in the 1st quarter. AQR Capital Management LLC now owns 18,117 shares of the company’s stock worth $520,000 after acquiring an additional 8,665 shares during the period. Millennium Management LLC raised its holdings in Excelerate Energy by 26.8% during the first quarter. Millennium Management LLC now owns 415,206 shares of the company’s stock worth $11,908,000 after purchasing an additional 87,672 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Excelerate Energy by 27.5% during the first quarter. Goldman Sachs Group Inc. now owns 442,764 shares of the company’s stock worth $12,698,000 after purchasing an additional 95,565 shares in the last quarter. Jane Street Group LLC boosted its position in Excelerate Energy by 133.9% during the first quarter. Jane Street Group LLC now owns 63,505 shares of the company’s stock worth $1,821,000 after purchasing an additional 36,354 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in Excelerate Energy by 3.6% in the second quarter. Legal & General Group Plc now owns 19,317 shares of the company’s stock valued at $566,000 after purchasing an additional 670 shares during the last quarter. Hedge funds and other 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.