Excelerate Energy (NYSE:EE) Stock Rating Upgraded by Zacks Research

Excelerate Energy (NYSE:EE) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other research analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $42.00 price objective on shares of Excelerate Energy in a research report on Friday, May 8th. The Goldman Sachs Group initiated coverage on Excelerate Energy in a research report on Wednesday. They set a “buy” rating and a $49.00 target price for the company. Wall Street Zen raised Excelerate Energy from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Wells Fargo & Company decreased their price target on Excelerate Energy from $39.00 to $37.00 and set an “equal weight” rating on the stock in a report on Friday, May 8th. Finally, Stephens reiterated an “overweight” rating and issued a $45.00 price objective on shares of Excelerate Energy in a research report on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Excelerate Energy has a consensus rating of “Moderate Buy” and an average target price of $40.64.

Excelerate Energy Price Performance

Shares of EE stock opened at $38.49 on Tuesday. Excelerate Energy has a 1 year low of $21.28 and a 1 year high of $43.17. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.53. The firm’s 50 day moving average is $35.64 and its 200-day moving average is $35.20. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of 31.29, a PEG ratio of 1.41 and a beta of 1.23.

Excelerate Energy (NYSE:EE) last issued its quarterly 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 net margin of 2.98% and a return on equity of 3.85%. The company had revenue of $433.44 million during the quarter, compared to analyst estimates of $351.68 million. During the same period in the prior year, the business earned $0.49 EPS. The business’s revenue for the quarter was up 37.6% on a year-over-year basis. Sell-side analysts forecast that Excelerate Energy will post 1.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Excelerate Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Copeland Capital Management LLC bought a new position in Excelerate Energy during the fourth quarter worth about $30,658,000. Wellington Management Group LLP increased its holdings in shares of Excelerate Energy by 24.9% in the fourth quarter. Wellington Management Group LLP now owns 3,607,182 shares of the company’s stock worth $101,181,000 after acquiring an additional 719,148 shares in the last quarter. Qube Research & Technologies Ltd raised its position in shares of Excelerate Energy by 328.4% during the second 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. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new stake in shares of Excelerate Energy during the first quarter worth about $10,862,000. Finally, Squarepoint Ops LLC raised its position in shares of Excelerate Energy by 219.5% during the third quarter. Squarepoint Ops LLC now owns 348,394 shares of the company’s stock worth $8,776,000 after purchasing an additional 239,358 shares during the period. 21.79% of the stock is owned by institutional investors.

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.