Excelerate Energy (NYSE:EE) Coverage Initiated at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has initiated coverage on Excelerate Energy with a "neutral" rating and a price target of $30.00, suggesting a potential upside of 30.76% from its current price.
• Excelerate Energy's stock has a consensus rating of "Moderate Buy" with an average target price of $32.71, while it reported quarterly earnings that exceeded analysts' expectations.
• The company's shares are currently trading down 3.2% at $22.94, with a market cap of $2.62 billion and a PE ratio of 16.87.

Research analysts at JPMorgan Chase & Co. initiated coverage on shares of Excelerate Energy (NYSE:EE - Get Free Report) in a report issued on Monday. The brokerage set a "neutral" rating and a $30.00 price target on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 30.76% from the stock's current price.

Several other research firms have also recently commented on EE. Wells Fargo & Company set a $26.00 target price on Excelerate Energy in a research note on Monday, August 11th. Citigroup reaffirmed an "outperform" rating on shares of Excelerate Energy in a research note on Wednesday, August 13th. Wall Street Zen raised Excelerate Energy from a "sell" rating to a "hold" rating in a research note on Sunday, August 24th. Finally, Jefferies Financial Group initiated coverage on Excelerate Energy in a research note on Thursday, June 5th. They set a "buy" rating and a $39.00 price target on the stock. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $32.71.

Excelerate Energy Trading Down 3.2%

Shares of Excelerate Energy stock traded down $0.76 during midday trading on Monday, reaching $22.94. The company had a trading volume of 41,948 shares, compared to its average volume of 412,713. The stock has a fifty day moving average price of $25.36 and a 200 day moving average price of $27.26. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.60 and a quick ratio of 2.60. The firm has a market cap of $2.62 billion, a PE ratio of 16.87 and a beta of 1.38. Excelerate Energy has a fifty-two week low of $17.70 and a fifty-two week high of $32.99.

Excelerate Energy (NYSE:EE - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.02. The company had revenue of $204.60 million for the quarter, compared to analyst estimates of $259.82 million. Excelerate Energy had a return on equity of 4.16% and a net margin of 3.64%.The firm's quarterly revenue was up 11.6% on a year-over-year basis. On average, equities analysts anticipate that Excelerate Energy will post 1.16 earnings per share for the current year.

Hedge Funds Weigh In On Excelerate Energy

Several institutional investors have recently bought and sold shares of EE. AlphaQuest LLC purchased a new position in shares of Excelerate Energy in the second quarter worth about $30,000. New York State Teachers Retirement System increased its stake in shares of Excelerate Energy by 1,467.0% in the first quarter. New York State Teachers Retirement System now owns 1,567 shares of the company's stock worth $45,000 after purchasing an additional 1,467 shares in the last quarter. Quarry LP increased its stake in shares of Excelerate Energy by 89.6% in the first quarter. Quarry LP now owns 1,997 shares of the company's stock worth $57,000 after purchasing an additional 944 shares in the last quarter. Tower Research Capital LLC TRC increased its stake 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 purchasing an additional 1,186 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its stake in shares of Excelerate Energy by 31.3% in the second quarter. Ameritas Investment Partners Inc. now owns 2,352 shares of the company's stock worth $69,000 after purchasing an additional 561 shares in the last quarter. Hedge funds and other institutional investors own 21.79% of the company's stock.

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.

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