Excelerate Energy (NYSE:EE) Stock Rating Upgraded by Dnb Carnegie

Key Points

• Dnb Carnegie upgraded Excelerate Energy from “hold” to “strong buy,” while the broader analyst consensus remains “buy” with a $44.00 price target.
• Excelerate reported quarterly EPS of $0.37, beating estimates by $0.02, while revenue rose 60.9% year over year to $329.27 million but fell short of expectations.
• Shares opened at $33.85, and institutional investors own 21.79% of the company; notable recent buying came from Wellington Management and Ranger Investment Management.

Excelerate Energy (NYSE:EE - Get Free Report) was upgraded by analysts at Dnb Carnegie from a "hold" rating to a "strong-buy" rating in a note issued to investors on Wednesday, Zacks reports.

Several other analysts have also recently commented on the stock. Citigroup reiterated an "outperform" rating on shares of Excelerate Energy in a research note on Wednesday, August 12th. Zacks Research upgraded Excelerate Energy from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 14th. Morgan Stanley set a $41.00 target price on Excelerate Energy in a report on Friday, August 7th. Wells Fargo & Company lifted their target price on Excelerate Energy from $37.00 to $38.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 12th. Finally, The Goldman Sachs Group started coverage on Excelerate Energy in a research report on Wednesday, July 15th. They issued a "buy" rating and a $49.00 target price on the stock. Four research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $44.00.

Excelerate Energy Trading Up 1.7%

Shares of EE opened at $33.85 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.80 and a quick ratio of 1.80. Excelerate Energy has a 1 year low of $24.90 and a 1 year high of $43.17. The company has a 50 day simple moving average of $35.74 and a two-hundred day simple moving average of $35.96. The firm has a market cap of $3.84 billion, a P/E ratio of 23.34 and a beta of 1.25.

Excelerate Energy (NYSE:EE - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. Excelerate Energy had a net margin of 3.23% and a return on equity of 2.24%. The firm had revenue of $329.27 million for the quarter, compared to analysts' expectations of $344.27 million. During the same quarter last year, the business posted $0.34 earnings per share. The company's revenue for the quarter was up 60.9% compared to the same quarter last year. On average, equities analysts expect that Excelerate Energy will post 1.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Excelerate Energy

Several large investors have recently bought and sold shares of EE. Public Employees Retirement System of Ohio purchased a new stake in shares of Excelerate Energy during the 2nd quarter valued at about $1,266,000. Ranger Investment Management L.P. bought a new position in shares of Excelerate Energy in the 2nd quarter valued at about $34,658,000. Renaissance Technologies LLC grew its position in Excelerate Energy by 132.9% in the first quarter. Renaissance Technologies LLC now owns 285,519 shares of the company's stock worth $9,542,000 after acquiring an additional 162,919 shares in the last quarter. Wellington Management Group LLP grew its position in Excelerate Energy by 26.8% in the second quarter. Wellington Management Group LLP now owns 3,339,759 shares of the company's stock worth $126,877,000 after acquiring an additional 705,587 shares in the last quarter. Finally, Empowered Funds LLC purchased a new position in Excelerate Energy in the first quarter worth about $1,028,000. Institutional investors own 21.79% of the company's stock.

About Excelerate Energy

Excelerate Energy, Inc is a U.S.-based energy infrastructure company that provides liquefied natural gas (LNG) delivery and regasification services. The company specializes in floating storage and regasification units (FSRUs), which receive, store and convert LNG back into natural gas for delivery to onshore or offshore pipeline systems.

Excelerate offers integrated LNG solutions that can include vessel ownership and operation, terminal and regasification services, LNG supply, logistics and project development.

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