Excelerate Energy (NYSE:EE) Upgraded by The Goldman Sachs Group to “Strong-Buy” Rating

The Goldman Sachs Group upgraded shares of Excelerate Energy (NYSE:EE) to a strong-buy rating in a report issued on Wednesday morning,Zacks.com reports.

Several other research firms have also recently weighed in on EE. 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. Stephens restated an “overweight” rating and set a $45.00 price objective on shares of Excelerate Energy in a report on Thursday, July 9th. Zacks Research raised shares of Excelerate Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $42.00 target price on shares of Excelerate Energy in a research report on Friday, May 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Excelerate Energy in a research report on Wednesday, June 24th. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.64.

Excelerate Energy Stock Performance

EE opened at $39.39 on Wednesday. Excelerate Energy has a 1-year low of $21.28 and a 1-year high of $43.17. The company has a market cap of $4.48 billion, a price-to-earnings ratio of 32.02, a PEG ratio of 1.40 and a beta of 1.23. The company’s fifty day moving average price is $35.77 and its two-hundred day moving average price is $35.28. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.53.

Excelerate Energy (NYSE:EE) last posted its earnings results on Wednesday, May 6th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). The business had revenue of $433.44 million for the quarter, compared to the consensus estimate of $351.68 million. Excelerate Energy had a return on equity of 3.85% and a net margin of 2.98%.The company’s revenue was up 37.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 earnings per share. On average, analysts expect that Excelerate Energy will post 1.52 EPS for the current fiscal year.

Excelerate Energy Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in EE. Empowered Funds LLC bought a new stake in Excelerate Energy during the first quarter valued at $1,028,000. NewEdge Advisors LLC purchased a new stake in shares of Excelerate Energy in the 1st quarter valued at about $326,000. Bank of America Corp DE boosted its position in shares of Excelerate Energy by 7.5% during the 1st quarter. Bank of America Corp DE now owns 150,160 shares of the company’s stock valued at $5,018,000 after acquiring an additional 10,541 shares during the last quarter. Amundi bought a new position in shares of Excelerate Energy in the first quarter worth approximately $208,000. Finally, The Manufacturers Life Insurance Company increased its position in shares of Excelerate Energy by 46.7% in the first quarter. The Manufacturers Life Insurance Company now owns 10,713 shares of the company’s stock worth $358,000 after purchasing an additional 3,411 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.