Excelerate Energy (NYSE:EE) Given New $40.00 Price Target at Morgan Stanley

Key Points

• Morgan Stanley cut its price target on Excelerate Energy from $41 to $40 and kept an "equal weight" rating, with the new target implying roughly a 17.6% upside from the prior close.
• The stock's analyst consensus is a "Moderate Buy" with a $39 consensus price target, based on 2 Strong Buy, 4 Buy and 5 Hold ratings.
• Excelerate reported $0.29 EPS (missing estimates by $0.01) while revenue rose 15.6% to $317.6M; the shares traded around $34.02 (down ~2.4%) and sit between a 52-week low of $21.28 and high of $43.17.

Excelerate Energy (NYSE:EE - Get Free Report) had its price target cut by investment analysts at Morgan Stanley from $41.00 to $40.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's price target points to a potential upside of 17.60% from the company's previous close.

Several other analysts also recently issued reports on the company. Weiss Ratings reissued a "hold (c)" rating on shares of Excelerate Energy in a research note on Friday, March 27th. Dnb Carnegie downgraded Excelerate Energy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 19th. Wall Street Zen downgraded Excelerate Energy from a "hold" rating to a "sell" rating in a research note on Saturday, April 4th. Raymond James Financial raised Excelerate Energy from an "outperform" rating to a "strong-buy" rating and set a $36.00 price target on the stock in a research note on Monday, January 5th. Finally, Wells Fargo & Company lifted their price target on Excelerate Energy from $29.00 to $39.00 and gave the company an "equal weight" rating in a research note on Friday, February 27th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.00.

Excelerate Energy Trading Down 2.4%

Excelerate Energy stock traded down $0.84 during mid-day trading on Tuesday, hitting $34.02. 82,859 shares of the company's stock were exchanged, compared to its average volume of 457,672. The firm has a market capitalization of $3.88 billion, a P/E ratio of 25.77, a PEG ratio of 1.12 and a beta of 1.41. Excelerate Energy has a fifty-two week low of $21.28 and a fifty-two week high of $43.17. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.54. The company's 50 day simple moving average is $36.55 and its 200-day simple moving average is $31.70.

Excelerate Energy (NYSE:EE - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). Excelerate Energy had a net margin of 3.19% and a return on equity of 4.12%. The firm had revenue of $317.57 million during the quarter, compared to analyst estimates of $293.49 million. During the same period in the prior year, the business earned $0.40 EPS. The business's revenue for the quarter was up 15.6% compared to the same quarter last year. On average, equities analysts anticipate that Excelerate Energy will post 1.73 earnings per share for the current year.

Insider Activity at Excelerate Energy

In other news, insider Oliver Simpson sold 6,000 shares of the company's stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $34.15, for a total value of $204,900.00. Following the transaction, the insider owned 51,719 shares of the company's stock, valued at approximately $1,766,203.85. This represents a 10.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.83% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Arax Advisory Partners raised its position in shares of Excelerate Energy by 791.9% in the fourth quarter. Arax Advisory Partners now owns 883 shares of the company's stock valued at $25,000 after buying an additional 784 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of Excelerate Energy in the third quarter worth $30,000. Global Retirement Partners LLC acquired a new position in Excelerate Energy in the fourth quarter valued at about $33,000. Aster Capital Management DIFC Ltd acquired a new position in Excelerate Energy in the third quarter valued at about $38,000. Finally, Essex Investment Management Co. LLC bought a new stake in Excelerate Energy during the fourth quarter worth about $41,000. 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.

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