Morgan Stanley Cuts Excelerate Energy (NYSE:EE) Price Target to $40.00

Excelerate Energy (NYSE:EE) had its price objective cut by Morgan Stanley from $41.00 to $40.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other brokerages have also issued reports on EE. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Excelerate Energy in a research report on Friday, March 27th. Barclays boosted their target price on Excelerate Energy from $33.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. Northland Securities set a $50.00 target price on Excelerate Energy in a research report on Friday, January 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $44.00 target price on shares of Excelerate Energy in a research report on Friday, February 6th. Finally, Raymond James Financial raised Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 target price on the stock in a research report on Monday, January 5th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Excelerate Energy currently has an average rating of “Moderate Buy” and an average price target of $39.00.

Excelerate Energy Trading Down 2.0%

NYSE:EE opened at $33.36 on Tuesday. The business has a fifty day moving average of $36.16 and a 200-day moving average of $31.78. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 1.13 and a beta of 1.41. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.43 and a current ratio of 2.43. Excelerate Energy has a 1 year low of $21.28 and a 1 year high of $43.17.

Excelerate Energy (NYSE:EE) last announced its earnings results on Wednesday, February 25th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The company had revenue of $317.57 million for the quarter, compared to analyst estimates of $293.49 million. Excelerate Energy had a return on equity of 4.12% and a net margin of 3.19%.The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period last year, the firm earned $0.40 earnings per share. Equities analysts predict that Excelerate Energy will post 1.66 earnings per share for the current year.

Excelerate Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Wednesday, March 11th. Excelerate Energy’s dividend payout ratio is 24.24%.

Insider Activity

In other news, insider Oliver Simpson sold 6,000 shares of the company’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $34.15, for a total transaction of $204,900.00. Following the completion of the sale, the insider owned 51,719 shares in the company, valued at approximately $1,766,203.85. This represents a 10.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.83% of the company’s stock.

Institutional Trading of Excelerate Energy

Several large investors have recently made changes to their positions in the stock. Arax Advisory Partners boosted its stake in Excelerate Energy by 791.9% during the 4th quarter. Arax Advisory Partners now owns 883 shares of the company’s stock valued at $25,000 after purchasing an additional 784 shares during the period. Global Retirement Partners LLC bought a new stake in Excelerate Energy during the 4th quarter valued at approximately $33,000. State of Alaska Department of Revenue bought a new stake in Excelerate Energy during the 3rd quarter valued at approximately $30,000. Essex Investment Management Co. LLC bought a new stake in Excelerate Energy during the 4th quarter valued at approximately $41,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in Excelerate Energy during the 3rd quarter valued at approximately $38,000. 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.