Excelerate Energy (NYSE:EE) Downgraded to Hold Rating by Dnb Carnegie

Excelerate Energy (NYSE:EE) was downgraded by equities researchers at Dnb Carnegie from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

EE has been the subject of a number of other research reports. Wall Street Zen upgraded Excelerate Energy from a “hold” rating to a “buy” rating in a research note on Sunday, January 11th. Jefferies Financial Group raised their price objective on Excelerate Energy from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Raymond James Financial upgraded shares of Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 target price on the stock in a report on Monday, January 5th. Tudor Pickering upgraded shares of Excelerate Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 17th. Finally, Northland Securities set a $50.00 price target on shares of Excelerate Energy in a research report on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.50.

Excelerate Energy Price Performance

Shares of NYSE EE opened at $42.10 on Thursday. Excelerate Energy has a 1 year low of $21.28 and a 1 year high of $43.03. The stock has a market capitalization of $4.80 billion, a P/E ratio of 29.24, a P/E/G ratio of 1.34 and a beta of 1.36. The company’s 50-day moving average is $33.29 and its 200 day moving average is $28.40. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.39 and a quick ratio of 2.39.

Excelerate Energy announced that its Board of Directors has approved a stock buyback plan on Thursday, December 11th that permits the company to buyback $75.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 2.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Martingale Asset Management L P grew its holdings in shares of Excelerate Energy by 0.4% during the fourth quarter. Martingale Asset Management L P now owns 74,192 shares of the company’s stock valued at $2,081,000 after buying an additional 281 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Excelerate Energy by 19.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,438 shares of the company’s stock valued at $61,000 after acquiring an additional 392 shares in the last quarter. Bailard Inc. lifted its position in Excelerate Energy by 1.6% in the 3rd quarter. Bailard Inc. now owns 25,500 shares of the company’s stock valued at $642,000 after acquiring an additional 400 shares in the last quarter. Summit Global Investments boosted its stake in Excelerate Energy by 3.2% during the 3rd quarter. Summit Global Investments now owns 12,973 shares of the company’s stock valued at $327,000 after purchasing an additional 406 shares during the last quarter. Finally, New York State Teachers Retirement System increased its holdings in shares of 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 purchasing an additional 514 shares in 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.