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

Wall Street Zen upgraded shares of Excelerate Energy (NYSE:EE) from a hold rating to a buy rating in a research note published on Sunday morning.

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

Excelerate Energy Trading Up 2.3%

Excelerate Energy stock opened at $30.45 on Friday. Excelerate Energy has a 1 year low of $21.28 and a 1 year high of $32.99. The firm’s 50 day moving average price is $27.58 and its 200-day moving average price is $26.27. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.39 and a quick ratio of 2.39. The stock has a market cap of $3.47 billion, a P/E ratio of 21.15, a PEG ratio of 1.22 and a beta of 1.36.

Excelerate Energy (NYSE:EE) last issued its earnings results on Wednesday, November 5th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.13. The firm had revenue of $391.04 million during the quarter, compared to analyst estimates of $270.82 million. Excelerate Energy had a net margin of 3.46% and a return on equity of 4.34%. The company’s quarterly revenue was up 102.2% on a year-over-year basis. On average, equities analysts predict that Excelerate Energy will post 1.16 earnings per share for the current fiscal year.

Excelerate Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Wednesday, November 19th were given a dividend of $0.08 per share. The ex-dividend date was Wednesday, November 19th. This represents a $0.32 dividend on an annualized basis and a yield of 1.1%. Excelerate Energy’s dividend payout ratio is 22.22%.

Excelerate Energy announced that its Board of Directors has initiated a share repurchase plan on Thursday, December 11th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 2.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Excelerate Energy

Several large investors have recently modified their holdings of EE. PNC Financial Services Group Inc. grew its holdings in shares of Excelerate Energy by 19.2% in the third quarter. PNC Financial Services Group Inc. now owns 2,438 shares of the company’s stock worth $61,000 after purchasing an additional 392 shares during the last quarter. Bailard Inc. lifted its holdings in Excelerate Energy by 1.6% during the 3rd quarter. Bailard Inc. now owns 25,500 shares of the company’s stock valued at $642,000 after buying an additional 400 shares in the last quarter. Summit Global Investments boosted its position in Excelerate Energy by 3.2% in the 3rd quarter. Summit Global Investments now owns 12,973 shares of the company’s stock valued at $327,000 after buying an additional 406 shares during the period. Rhumbline Advisers grew its stake in Excelerate Energy by 1.5% in the 1st quarter. Rhumbline Advisers now owns 31,903 shares of the company’s stock worth $915,000 after acquiring an additional 471 shares in the last quarter. Finally, New York State Teachers Retirement System grew its stake in Excelerate Energy by 32.8% in the 3rd quarter. New York State Teachers Retirement System now owns 2,081 shares of the company’s stock worth $52,000 after acquiring an additional 514 shares in the last quarter. Institutional investors own 21.79% of the company’s stock.

Excelerate Energy Company Profile

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.