Excelerate Energy (NYSE:EE) Upgraded 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 report report published on Sunday morning.

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

Excelerate Energy Trading Up 2.5%

Shares of EE opened at $31.57 on Friday. The stock has a market cap of $3.60 billion, a PE ratio of 21.92, a P/E/G ratio of 1.23 and a beta of 1.36. 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 has a 12 month low of $21.28 and a 12 month high of $32.99. The stock’s 50-day moving average is $27.80 and its two-hundred day moving average is $26.29.

Excelerate Energy (NYSE:EE) last released its quarterly 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. Excelerate Energy had a return on equity of 4.34% and a net margin of 3.46%.The firm had revenue of $391.04 million during the quarter, compared to analysts’ expectations of $270.82 million. The business’s quarterly revenue was up 102.2% on a year-over-year basis. Equities analysts forecast that Excelerate Energy will post 1.16 earnings per share for the current fiscal year.

Excelerate Energy declared that its Board of Directors has initiated a share repurchase plan on Thursday, December 11th that permits the company to buyback $75.00 million in 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 an indication that the company’s board believes its stock is undervalued.

Excelerate Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Wednesday, November 19th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Wednesday, November 19th. Excelerate Energy’s dividend payout ratio (DPR) is presently 22.22%.

Hedge Funds Weigh In On Excelerate Energy

Several hedge funds have recently made changes to their positions in EE. AlphaQuest LLC bought a new stake in shares of Excelerate Energy in the 2nd quarter worth approximately $30,000. State of Alaska Department of Revenue acquired a new position in shares of Excelerate Energy in the 3rd quarter valued at $30,000. Aster Capital Management DIFC Ltd purchased a new position in Excelerate Energy in the 3rd quarter worth about $38,000. New York State Teachers Retirement System boosted its holdings in shares of Excelerate Energy by 32.8% in the third quarter. New York State Teachers Retirement System now owns 2,081 shares of the company’s stock worth $52,000 after buying an additional 514 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in shares of Excelerate Energy by 157.1% in the second quarter. Tower Research Capital LLC TRC now owns 1,941 shares of the company’s stock worth $57,000 after acquiring an additional 1,186 shares in the last quarter. Institutional investors and hedge funds 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.