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

Excelerate Energy (NYSE:EE) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Sunday.

A number of other equities analysts have also commented on EE. Raymond James Financial upgraded shares of Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 price objective for the company in a research report on Monday, January 5th. Morgan Stanley set a $30.00 target price on shares of Excelerate Energy and gave the stock an “equal weight” rating in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Excelerate Energy in a report on Monday, December 29th. Tudor Pickering raised shares of Excelerate Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 17th. Finally, Jefferies Financial Group set a $37.00 price objective on Excelerate Energy and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Excelerate Energy currently has an average rating of “Moderate Buy” and a consensus target price of $32.25.

Excelerate Energy Price Performance

Shares of NYSE EE opened at $30.45 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. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of 21.15, a price-to-earnings-growth ratio of 1.22 and a beta of 1.36. Excelerate Energy has a 1-year low of $21.28 and a 1-year high of $32.99. The stock has a fifty day simple moving average of $27.58 and a two-hundred day simple moving average of $26.29.

Excelerate Energy (NYSE:EE) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $270.82 million. Excelerate Energy’s quarterly revenue was up 102.2% compared to the same quarter last year. Analysts anticipate that Excelerate Energy will post 1.16 earnings per share for the current year.

Excelerate Energy declared that its board has initiated a stock repurchase program on Thursday, December 11th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the company to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Wellington Management Group LLP lifted its stake in shares of Excelerate Energy by 17.6% in the third quarter. Wellington Management Group LLP now owns 2,888,034 shares of the company’s stock worth $72,750,000 after buying an additional 433,010 shares in the last quarter. TimesSquare Capital Management LLC grew its stake in shares of Excelerate Energy by 29.0% in the third quarter. TimesSquare Capital Management LLC now owns 924,123 shares of the company’s stock worth $23,279,000 after acquiring an additional 207,771 shares during the period. Kayne Anderson Capital Advisors LP grew its position in Excelerate Energy by 77.3% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 781,623 shares of the company’s stock worth $19,689,000 after purchasing an additional 340,747 shares during the period. Geode Capital Management LLC grew its position in Excelerate Energy by 41.6% in the 2nd quarter. Geode Capital Management LLC now owns 608,070 shares of the company’s stock worth $17,830,000 after purchasing an additional 178,507 shares during the period. Finally, Qube Research & Technologies Ltd raised its stake in Excelerate Energy by 30.7% during the 3rd quarter. Qube Research & Technologies Ltd now owns 592,505 shares of the company’s stock valued at $14,925,000 after buying an additional 139,160 shares during the last quarter. 21.79% of the stock is owned by hedge funds and other 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.