Excelerate Energy (NYSE:EE) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Excelerate Energy (NYSE:EE) from a hold rating to a buy rating in a research note released on Sunday.

Several other research firms also recently issued reports on EE. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Excelerate Energy in a report on Monday, December 15th. Morgan Stanley set a $30.00 price target on shares of Excelerate Energy and gave the stock an “equal weight” rating in a research report on Thursday, November 6th. JPMorgan Chase & Co. assumed coverage on shares of Excelerate Energy in a research note on Monday, September 8th. They issued a “neutral” rating and a $30.00 price target on the stock. DNB Markets set a $31.00 price objective on Excelerate Energy in a report on Wednesday, September 10th. Finally, Tudor Pickering raised Excelerate Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 17th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.71.

Excelerate Energy Stock Performance

Shares of EE stock opened at $26.79 on Friday. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 0.56. Excelerate Energy has a 12-month low of $21.28 and a 12-month high of $32.99. The business’s 50 day moving average is $27.07 and its two-hundred day moving average is $26.46. The company has a market capitalization of $3.05 billion, a P/E ratio of 18.60, a P/E/G ratio of 1.21 and a beta of 1.36.

Excelerate Energy (NYSE:EE) last announced its earnings results on Wednesday, November 5th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.13. Excelerate Energy had a return on equity of 4.34% and a net margin of 3.46%.The business had revenue of $391.04 million during the quarter, compared to the consensus estimate of $270.82 million. Excelerate Energy’s revenue was up 102.2% on a year-over-year basis. Analysts expect that Excelerate Energy will post 1.16 EPS for the current fiscal year.

Excelerate Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Wednesday, November 19th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, November 19th. Excelerate Energy’s dividend payout ratio (DPR) is 22.22%.

Excelerate Energy declared that its Board of Directors has authorized a stock buyback program on Thursday, December 11th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Excelerate Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. grew its holdings in shares of Excelerate Energy by 19.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,438 shares of the company’s stock worth $61,000 after purchasing an additional 392 shares during the period. Bailard Inc. lifted its position in Excelerate Energy by 1.6% in the third quarter. Bailard Inc. now owns 25,500 shares of the company’s stock valued at $642,000 after buying an additional 400 shares during the last quarter. Summit Global Investments lifted its position in Excelerate Energy by 3.2% in the third quarter. Summit Global Investments now owns 12,973 shares of the company’s stock valued at $327,000 after buying an additional 406 shares during the last quarter. Rhumbline Advisers boosted its stake in Excelerate Energy by 1.5% during the first quarter. Rhumbline Advisers now owns 31,903 shares of the company’s stock worth $915,000 after buying an additional 471 shares during the period. Finally, New York State Teachers Retirement System increased its position in shares of Excelerate Energy by 32.8% during the third quarter. New York State Teachers Retirement System now owns 2,081 shares of the company’s stock valued at $52,000 after acquiring an additional 514 shares during the last quarter. Institutional investors and hedge funds 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.