Excelerate Energy (NYSE:EE) Upgraded at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Excelerate Energy (NYSE:EE) to a strong-buy rating in a research note published on Wednesday morning,Zacks.com reports.

A number of other analysts also recently commented on EE. Wells Fargo & Company reduced their price objective on Excelerate Energy from $39.00 to $37.00 and set an “equal weight” rating for the company in a research report on Friday, May 8th. Northland Securities set a $48.00 price objective on Excelerate Energy in a research report on Friday, May 15th. Stephens restated an “overweight” rating and set a $45.00 price objective on shares of Excelerate Energy in a research report on Thursday, July 9th. Jefferies Financial Group restated a “buy” rating and issued a $48.00 target price on shares of Excelerate Energy in a research note on Friday, July 10th. Finally, Wall Street Zen raised Excelerate Energy from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.64.

Excelerate Energy Stock Down 1.3%

Shares of EE opened at $38.97 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.60 and a current ratio of 2.60. The company has a 50-day simple moving average of $35.87 and a 200-day simple moving average of $35.30. Excelerate Energy has a 52 week low of $21.28 and a 52 week high of $43.17. The firm has a market capitalization of $4.44 billion, a P/E ratio of 31.68, a P/E/G ratio of 1.43 and a beta of 1.23.

Excelerate Energy (NYSE:EE) last released its earnings results on Wednesday, May 6th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). Excelerate Energy had a return on equity of 3.85% and a net margin of 2.98%.The firm had revenue of $433.44 million for the quarter, compared to analyst estimates of $351.68 million. During the same period last year, the business earned $0.49 earnings per share. The firm’s quarterly revenue was up 37.6% compared to the same quarter last year. On average, equities research analysts expect that Excelerate Energy will post 1.52 earnings per share for the current year.

Excelerate Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Wednesday, May 20th were given a dividend of $0.08 per share. The ex-dividend date was Wednesday, May 20th. This represents a $0.32 dividend on an annualized basis and a yield of 0.8%. Excelerate Energy’s dividend payout ratio is 26.02%.

Hedge Funds Weigh In On Excelerate Energy

Several institutional investors have recently bought and sold shares of the business. Arax Advisory Partners grew its holdings in shares of Excelerate Energy by 791.9% during the fourth quarter. Arax Advisory Partners now owns 883 shares of the company’s stock worth $25,000 after purchasing an additional 784 shares during the last quarter. Global Retirement Partners LLC bought a new position in shares of Excelerate Energy in the fourth quarter valued at about $33,000. Essex Investment Management Co. LLC bought a new position in shares of Excelerate Energy in the fourth quarter valued at about $41,000. CIBC Private Wealth Group LLC bought a new position in shares of Excelerate Energy in the fourth quarter valued at about $56,000. Finally, Tower Research Capital LLC TRC lifted its position in Excelerate Energy by 157.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,941 shares of the company’s stock worth $57,000 after buying an additional 1,186 shares in the last quarter. Institutional investors own 21.79% of the company’s stock.

Excelerate Energy Company Profile

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.