Excelerate Energy (NYSE:EE) Rating Increased to Hold at Zacks Research

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

Other analysts have also issued reports about the stock. Northland Securities set a $48.00 price target on shares of Excelerate Energy in a research report on Friday, May 15th. Stephens reissued an “overweight” rating and issued a $45.00 price objective on shares of Excelerate Energy in a research report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $42.00 target price on shares of Excelerate Energy in a report on Friday, May 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Excelerate Energy in a research note on Wednesday, June 24th. Finally, Morgan Stanley reduced their price target on Excelerate Energy from $41.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $40.64.

Excelerate Energy Stock Down 0.6%

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

Excelerate Energy (NYSE:EE) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.37 EPS for the quarter, missing the consensus estimate 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 previous year, the company posted $0.49 EPS. The company’s quarterly revenue was up 37.6% compared to the same quarter last year. Equities research analysts expect that Excelerate Energy will post 1.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Excelerate Energy

Several large investors have recently modified their holdings of the stock. AQR Capital Management LLC boosted its holdings in shares of Excelerate Energy by 91.7% during the 1st quarter. AQR Capital Management LLC now owns 18,117 shares of the company’s stock worth $520,000 after buying an additional 8,665 shares during the period. Millennium Management LLC raised its holdings in Excelerate Energy by 26.8% in the 1st quarter. Millennium Management LLC now owns 415,206 shares of the company’s stock valued at $11,908,000 after acquiring an additional 87,672 shares during the period. Goldman Sachs Group Inc. lifted its position in Excelerate Energy by 27.5% during the first quarter. Goldman Sachs Group Inc. now owns 442,764 shares of the company’s stock worth $12,698,000 after acquiring an additional 95,565 shares during the last quarter. Jane Street Group LLC lifted its position in Excelerate Energy by 133.9% during the first quarter. Jane Street Group LLC now owns 63,505 shares of the company’s stock worth $1,821,000 after acquiring an additional 36,354 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Excelerate Energy by 3.6% during the second quarter. Legal & General Group Plc now owns 19,317 shares of the company’s stock worth $566,000 after acquiring an additional 670 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.