Excelerate Energy (NYSE:EE) Rating Lowered to Hold at Wall Street Zen

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

A number of other research analysts have also commented on the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $44.00 price objective on shares of Excelerate Energy in a research report on Friday, February 6th. Jefferies Financial Group lifted their price objective on Excelerate Energy from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Wells Fargo & Company boosted their price objective on Excelerate Energy from $29.00 to $39.00 and gave the stock an “equal weight” rating in a report on Friday. Weiss Ratings restated a “hold (c)” rating on shares of Excelerate Energy in a research report on Monday, December 29th. Finally, Morgan Stanley lifted their price target on shares of Excelerate Energy from $30.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.44.

Excelerate Energy Stock Performance

Excelerate Energy stock opened at $40.32 on Friday. The stock has a 50-day simple moving average of $34.79 and a 200 day simple moving average of $28.99. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 30.55, a P/E/G ratio of 1.23 and a beta of 1.36. 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 has a 12-month low of $21.28 and a 12-month high of $43.07.

Excelerate Energy (NYSE:EE) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.29 earnings per share 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 4.18%. The company had revenue of $317.57 million during the quarter, compared to analyst estimates of $293.49 million. During the same quarter in the previous year, the business posted $0.40 EPS. The company’s revenue was up 15.6% compared to the same quarter last year. On average, research analysts anticipate that Excelerate Energy will post 1.16 earnings per share for the current fiscal year.

Excelerate Energy declared that its Board of Directors has initiated a stock buyback program on Thursday, December 11th that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Excelerate Energy

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Copeland Capital Management LLC bought a new position in shares of Excelerate Energy during the fourth quarter worth about $30,658,000. Wellington Management Group LLP raised its holdings in Excelerate Energy by 24.9% during the 4th quarter. Wellington Management Group LLP now owns 3,607,182 shares of the company’s stock worth $101,181,000 after purchasing an additional 719,148 shares during the last quarter. Kayne Anderson Capital Advisors LP bought a new position in Excelerate Energy during the 2nd quarter worth approximately $12,926,000. Qube Research & Technologies Ltd lifted its position in shares of Excelerate Energy by 328.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 453,345 shares of the company’s stock worth $13,292,000 after purchasing an additional 347,521 shares during the period. Finally, Squarepoint Ops LLC boosted its stake in shares of Excelerate Energy by 219.5% in the 3rd quarter. Squarepoint Ops LLC now owns 348,394 shares of the company’s stock valued at $8,776,000 after purchasing an additional 239,358 shares during the last quarter. Institutional investors and hedge funds 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.