The Goldman Sachs Group Upgrades Excelerate Energy (NYSE:EE) to Strong-Buy

Excelerate Energy (NYSE:EE) was upgraded by equities researchers at The Goldman Sachs Group to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

EE has been the subject of a number of other research reports. Morgan Stanley decreased their price objective on shares of Excelerate Energy from $41.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $42.00 target price on shares of Excelerate Energy in a report on Friday, May 8th. Wall Street Zen raised shares of Excelerate Energy from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Stephens reissued an “overweight” rating and issued a $45.00 price target on shares of Excelerate Energy in a report on Thursday, July 9th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Excelerate Energy in a research report on Wednesday, June 24th. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $40.64.

Excelerate Energy Price Performance

Shares of EE opened at $39.39 on Wednesday. The stock has a market cap of $4.48 billion, a P/E ratio of 32.02, a price-to-earnings-growth ratio of 1.40 and a beta of 1.23. Excelerate Energy has a 1 year low of $21.28 and a 1 year high of $43.17. The stock’s 50-day moving average price is $35.77 and its two-hundred day moving average price is $35.28. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.53.

Excelerate Energy (NYSE:EE) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The company had revenue of $433.44 million during the quarter, compared to the consensus estimate of $351.68 million. Excelerate Energy had a net margin of 2.98% and a return on equity of 3.85%. The business’s revenue was up 37.6% compared to the same quarter last year. During the same period last year, the company earned $0.49 earnings per share. On average, equities analysts predict that Excelerate Energy will post 1.52 earnings per share for the current year.

Institutional Trading of Excelerate Energy

Several hedge funds have recently bought and sold shares of the stock. Copeland Capital Management LLC acquired a new position in shares of Excelerate Energy in the fourth quarter valued at approximately $30,658,000. Wellington Management Group LLP increased its position in shares of Excelerate Energy by 24.9% during the fourth quarter. Wellington Management Group LLP now owns 3,607,182 shares of the company’s stock worth $101,181,000 after acquiring an additional 719,148 shares in the last quarter. Qube Research & Technologies Ltd raised its holdings in shares of Excelerate Energy by 328.4% during the second quarter. Qube Research & Technologies Ltd now owns 453,345 shares of the company’s stock worth $13,292,000 after acquiring an additional 347,521 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new stake in shares of Excelerate Energy during the first quarter worth $10,862,000. Finally, Squarepoint Ops LLC lifted its position in Excelerate Energy by 219.5% in the 3rd quarter. Squarepoint Ops LLC now owns 348,394 shares of the company’s stock valued at $8,776,000 after acquiring an additional 239,358 shares in the last quarter. 21.79% of the stock is currently owned by institutional investors and hedge funds.

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.