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

Wall Street Zen downgraded shares of Excelerate Energy (NYSE:EE) from a buy rating to a hold rating in a research report released on Saturday morning.

A number of other research firms also recently weighed in on EE. Weiss Ratings reiterated a “hold (c)” rating on shares of Excelerate Energy in a report on Monday, December 29th. Jefferies Financial Group set a $37.00 price target on shares of Excelerate Energy and gave the company a “buy” rating in a research report on Tuesday, October 28th. DNB Markets set a $31.00 target price on shares of Excelerate Energy in a research note on Wednesday, September 10th. JPMorgan Chase & Co. assumed coverage on Excelerate Energy in a research note on Monday, September 8th. They issued a “neutral” rating and a $30.00 price target on the stock. Finally, Morgan Stanley set a $30.00 target price on Excelerate Energy and gave the stock an “equal weight” rating in a report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.25.

Excelerate Energy Stock Performance

Excelerate Energy stock opened at $28.97 on Friday. Excelerate Energy has a twelve month low of $21.28 and a twelve month high of $32.99. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 0.56. The firm has a fifty day simple moving average of $27.31 and a two-hundred day simple moving average of $26.26. The company has a market capitalization of $3.30 billion, a PE ratio of 20.12, a P/E/G ratio of 1.13 and a beta of 1.36.

Excelerate Energy (NYSE:EE) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.13. The business had revenue of $391.04 million for the quarter, compared to analysts’ expectations of $270.82 million. Excelerate Energy had a return on equity of 4.34% and a net margin of 3.46%.The firm’s revenue for the quarter was up 102.2% compared to the same quarter last year. Research analysts expect that Excelerate Energy will post 1.16 EPS for the current year.

Excelerate Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Wednesday, November 19th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, November 19th. Excelerate Energy’s payout ratio is presently 22.22%.

Excelerate Energy announced that its board has authorized a stock buyback plan on Thursday, December 11th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its position in shares of Excelerate Energy by 37.3% during the third quarter. JPMorgan Chase & Co. now owns 408,152 shares of the company’s stock valued at $10,281,000 after buying an additional 110,970 shares during the last quarter. Dark Forest Capital Management LP bought a new position in shares of Excelerate Energy during the 3rd quarter worth approximately $1,017,000. Qube Research & Technologies Ltd lifted its position in Excelerate Energy by 30.7% during the third quarter. Qube Research & Technologies Ltd now owns 592,505 shares of the company’s stock valued at $14,925,000 after acquiring an additional 139,160 shares during the last quarter. Millennium Management LLC boosted its stake in Excelerate Energy by 392.1% in the third quarter. Millennium Management LLC now owns 260,160 shares of the company’s stock valued at $6,553,000 after acquiring an additional 207,295 shares in the last quarter. Finally, Jain Global LLC grew its holdings in Excelerate Energy by 140.0% in the third quarter. Jain Global LLC now owns 178,916 shares of the company’s stock worth $4,507,000 after purchasing an additional 104,371 shares during the last quarter. 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.