Zacks Research Upgrades Excelerate Energy (NYSE:EE) to Hold

Excelerate Energy (NYSE:EEGet Free Report) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Several other equities research analysts also recently issued reports on the company. Wells Fargo & Company lowered their price target on Excelerate Energy from $39.00 to $37.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. Wall Street Zen upgraded Excelerate Energy from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Morgan Stanley decreased their price objective on Excelerate Energy from $41.00 to $40.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $42.00 target price on shares of Excelerate Energy in a research note on Friday, May 8th. Finally, Stephens restated an “overweight” rating and set a $45.00 target price on shares of Excelerate Energy in a report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $40.64.

Check Out Our Latest Analysis on Excelerate Energy

Excelerate Energy Price Performance

Shares of EE stock opened at $38.49 on Tuesday. Excelerate Energy has a 12-month low of $21.28 and a 12-month high of $43.17. 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. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.53. The firm has a fifty day moving average of $35.64 and a 200-day moving average of $35.20.

Excelerate Energy (NYSE:EEGet Free Report) last issued 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). The business had revenue of $433.44 million for the quarter, compared to analyst estimates of $351.68 million. Excelerate Energy had a return on equity of 3.85% and a net margin of 2.98%.The business’s quarterly revenue was up 37.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.49 EPS. On average, equities research analysts forecast that Excelerate Energy will post 1.52 earnings per share for the current year.

Hedge Funds Weigh In On Excelerate Energy

A number of large investors have recently bought and sold shares of EE. Martingale Asset Management L P boosted its holdings in Excelerate Energy by 0.4% during the fourth quarter. Martingale Asset Management L P now owns 74,192 shares of the company’s stock worth $2,081,000 after purchasing an additional 281 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Excelerate Energy by 0.3% in the 1st quarter. Bank of New York Mellon Corp now owns 195,532 shares of the company’s stock valued at $6,535,000 after buying an additional 633 shares during the last quarter. Legal & General Group Plc increased its stake in Excelerate Energy by 3.6% in the 2nd quarter. Legal & General Group Plc now owns 19,317 shares of the company’s stock valued at $566,000 after buying an additional 670 shares during the last quarter. Quantinno Capital Management LP lifted its position in Excelerate Energy by 6.7% during the 1st quarter. Quantinno Capital Management LP now owns 11,025 shares of the company’s stock worth $368,000 after buying an additional 690 shares in the last quarter. Finally, Arax Advisory Partners lifted its position in Excelerate Energy by 791.9% during the 4th quarter. Arax Advisory Partners now owns 883 shares of the company’s stock worth $25,000 after buying an additional 784 shares in the last quarter. Institutional investors and hedge funds own 21.79% of the company’s stock.

About Excelerate Energy

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Excelerate Energy (NYSE:EE)

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