Excelerate Energy (NYSE:EE) Upgraded at Zacks Research

Zacks Research upgraded shares of Excelerate Energy (NYSE:EE) from a strong sell rating to a hold rating in a research note released on Tuesday,Zacks.com reports.

EE has been the topic of a number of other reports. Morgan Stanley cut their price objective on Excelerate Energy from $41.00 to $40.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 21st. Jefferies Financial Group reissued a “buy” rating and set a $48.00 target price on shares of Excelerate Energy in a research report on Friday, July 10th. Wells Fargo & Company cut their price target on shares of Excelerate Energy from $39.00 to $37.00 and set an “equal weight” rating on the stock in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $42.00 price target on shares of Excelerate Energy in a research report on Friday, May 8th. Finally, Wall Street Zen raised shares of Excelerate Energy from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.64.

Excelerate Energy Stock Up 2.4%

Shares of NYSE EE opened at $39.39 on Tuesday. Excelerate Energy has a 52-week low of $21.28 and a 52-week high of $43.17. The firm has a fifty day moving average of $35.77 and a 200-day moving average of $35.28. The stock has a market capitalization of $4.48 billion, a PE ratio of 32.02, a P/E/G ratio of 1.40 and a beta of 1.23. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.53.

Excelerate Energy (NYSE:EE) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.37 EPS 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 quarter in the previous year, the company earned $0.49 earnings per share. The company’s quarterly revenue was up 37.6% on a year-over-year basis. On average, analysts anticipate that Excelerate Energy will post 1.52 EPS for the current year.

Excelerate Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Wednesday, May 20th were paid a $0.08 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.8%. Excelerate Energy’s dividend payout ratio (DPR) is 26.02%.

Hedge Funds Weigh In On Excelerate Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Arax Advisory Partners boosted its holdings in Excelerate Energy by 791.9% in the 4th quarter. Arax Advisory Partners now owns 883 shares of the company’s stock worth $25,000 after acquiring an additional 784 shares during the period. Global Retirement Partners LLC purchased a new stake in shares of Excelerate Energy during the fourth quarter valued at approximately $33,000. Essex Investment Management Co. LLC purchased a new stake in shares of Excelerate Energy during the fourth quarter valued at approximately $41,000. CIBC Private Wealth Group LLC acquired a new position in shares of Excelerate Energy during the fourth quarter worth $56,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Excelerate Energy by 157.1% during the second quarter. Tower Research Capital LLC TRC now owns 1,941 shares of the company’s stock worth $57,000 after purchasing an additional 1,186 shares in the last quarter. 21.79% of the stock is owned by institutional investors and hedge funds.

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.