Wall Street Zen Downgrades Excelerate Energy (NYSE:EE) to Hold

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

Several other research analysts have also recently weighed in on EE. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $44.00 price target on shares of Excelerate Energy in a report on Friday, February 6th. Raymond James Financial upgraded Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 target price on the stock in a research note on Monday, January 5th. Northland Securities set a $50.00 price target on Excelerate Energy in a research report on Friday, January 30th. Morgan Stanley upped their price objective 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, February 24th. Finally, Dnb Carnegie downgraded shares of Excelerate Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 19th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Excelerate Energy has an average rating of “Moderate Buy” and an average price target of $38.44.

Excelerate Energy Trading Up 2.0%

Shares of EE opened at $40.32 on Friday. Excelerate Energy has a twelve month low of $21.28 and a twelve month high of $43.07. The stock has a market cap of $4.60 billion, a PE ratio of 30.55, a P/E/G ratio of 1.25 and a beta of 1.34. The company has a quick ratio of 2.39, a current ratio of 2.43 and a debt-to-equity ratio of 0.54. The business’s 50-day moving average price is $34.79 and its 200-day moving average price is $29.06.

Excelerate Energy (NYSE:EE) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.29 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 net margin of 3.19% and a return on equity of 4.12%. Excelerate Energy’s revenue was up 15.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.40 EPS. On average, equities analysts forecast that Excelerate Energy will post 1.16 EPS for the current fiscal year.

Excelerate Energy announced that its board has authorized a share buyback program on Thursday, December 11th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the company to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. XTX Topco Ltd purchased a new stake in shares of Excelerate Energy in the 4th quarter valued at $1,290,000. Wellington Management Group LLP raised its position in Excelerate Energy by 24.9% in 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 period. Susquehanna Portfolio Strategies LLC bought a new stake in Excelerate Energy in the fourth quarter worth $1,853,000. Man Group plc purchased a new stake in Excelerate Energy during the fourth quarter valued at about $661,000. Finally, Boothbay Fund Management LLC grew its stake in shares of Excelerate Energy by 42.0% during the fourth quarter. Boothbay Fund Management LLC now owns 136,026 shares of the company’s stock valued at $3,816,000 after buying an additional 40,254 shares during the last quarter. 21.79% of the stock is owned by hedge funds and other institutional investors.

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.