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 released on Friday morning.

Other equities analysts have also recently issued research reports about the company. Stephens reissued an “overweight” rating and issued a $36.00 price objective on shares of Excelerate Energy in a report on Monday, March 3rd. Wells Fargo & Company reiterated an “underweight” rating on shares of Excelerate Energy in a research note on Friday, March 28th. Barclays upped their price target on Excelerate Energy from $31.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Finally, Jefferies Financial Group started coverage on Excelerate Energy in a report on Thursday. They issued a “buy” rating and a $39.00 price objective on the stock. Three research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Excelerate Energy currently has a consensus rating of “Hold” and an average target price of $32.29.

Excelerate Energy Stock Up 2.0%

Shares of EE stock opened at $31.59 on Friday. Excelerate Energy has a 1-year low of $16.75 and a 1-year high of $32.99. The stock’s fifty day moving average price is $27.39 and its 200 day moving average price is $29.14. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.12 and a quick ratio of 4.12. The company has a market cap of $3.60 billion, a price-to-earnings ratio of 31.91, a price-to-earnings-growth ratio of 5.82 and a beta of 1.41.

Excelerate Energy (NYSE:EE) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.10. The company had revenue of $315.09 million during the quarter, compared to analysts’ expectations of $207.87 million. Excelerate Energy had a return on equity of 1.39% and a net margin of 3.14%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. On average, research analysts expect that Excelerate Energy will post 1.16 earnings per share for the current fiscal year.

Excelerate Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Wednesday, May 21st were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Wednesday, May 21st. Excelerate Energy’s payout ratio is currently 16.33%.

Institutional Trading of Excelerate Energy

Several hedge funds have recently modified their holdings of the stock. TimesSquare Capital Management LLC purchased a new position in Excelerate Energy in the fourth quarter valued at $13,854,000. Nuveen LLC purchased a new position in shares of Excelerate Energy during the first quarter worth about $7,102,000. Wellington Management Group LLP purchased a new position in shares of Excelerate Energy during the fourth quarter worth about $5,921,000. Raymond James Financial Inc. purchased a new position in shares of Excelerate Energy during the fourth quarter worth about $5,510,000. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Excelerate Energy by 94.3% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 350,128 shares of the company’s stock valued at $10,591,000 after purchasing an additional 169,924 shares in the last quarter. 21.79% of the stock is currently owned by institutional investors and hedge funds.

About Excelerate Energy

Excelerate Energy, Inc provides flexible liquefied natural gas (LNG) solutions worldwide. The company offers regasification services, including floating storage and regasification units (FSRUs), infrastructure development, and LNG and natural gas supply, procurement, and distribution services; LNG terminal services; and natural gas supply to-power projects.