Excelerate Energy (NYSE:EE) Stock Price Expected to Rise, Barclays Analyst Says

Excelerate Energy (NYSE:EE) had its price objective boosted by investment analysts at Barclays from $33.00 to $41.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 1.69% from the stock’s current price.

A number of other equities research analysts also recently issued reports on EE. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $44.00 price target on shares of Excelerate Energy in a research note on Friday, February 6th. Morgan Stanley upped their target price on shares of Excelerate Energy from $30.00 to $40.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 24th. Jefferies Financial Group increased their price target on shares of Excelerate Energy from $37.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Wall Street Zen lowered Excelerate Energy from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Raymond James Financial upgraded Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 price objective on the stock in a research report on Monday, January 5th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Excelerate Energy currently has an average rating of “Moderate Buy” and an average target price of $39.00.

Excelerate Energy Stock Performance

NYSE EE opened at $40.32 on Monday. The stock has a market capitalization of $4.60 billion, a PE ratio of 30.55, a P/E/G ratio of 1.31 and a beta of 1.34. The business has a 50 day simple moving average of $35.32 and a two-hundred day simple moving average of $29.30. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.43 and a quick ratio of 2.39. Excelerate Energy has a 1-year low of $21.28 and a 1-year high of $43.18.

Excelerate Energy (NYSE:EE) last issued its quarterly earnings data 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). 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 revenue was up 15.6% on a year-over-year basis. During the same period last year, the company earned $0.40 earnings per share. On average, research analysts predict that Excelerate Energy will post 1.16 EPS for the current fiscal year.

Excelerate Energy declared that its board has initiated a share buyback plan on Thursday, December 11th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to buy up to 2.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Excelerate Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. KLP Kapitalforvaltning AS increased its stake in Excelerate Energy by 645.2% in the 3rd quarter. KLP Kapitalforvaltning AS now owns 69,300 shares of the company’s stock worth $1,746,000 after buying an additional 60,000 shares during the period. Principal Financial Group Inc. boosted its position in Excelerate Energy by 153.5% in the 3rd quarter. Principal Financial Group Inc. now owns 41,518 shares of the company’s stock valued at $1,046,000 after buying an additional 25,139 shares during the period. Knights of Columbus Asset Advisors LLC bought a new position in Excelerate Energy in the 3rd quarter worth about $1,845,000. Fortress Investment Group LLC bought a new position in Excelerate Energy in the 2nd quarter worth about $3,130,000. Finally, Hillsdale Investment Management Inc. increased its position in shares of Excelerate Energy by 32.9% during the second quarter. Hillsdale Investment Management Inc. now owns 171,700 shares of the company’s stock worth $5,034,000 after acquiring an additional 42,500 shares during the period. 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.