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

Key Points

• Goldman Sachs upgraded Excelerate Energy to a strong-buy rating, adding to a mixed but generally positive analyst outlook on the stock.
• The shares opened at $39.39, near the company’s 52-week high of $43.17, with a market cap of about $4.48 billion and a consensus price target of $40.64.
• In its last earnings report, Excelerate Energy beat revenue expectations with $433.44 million in sales, but missed EPS estimates by a small margin; analysts now expect $1.52 EPS for the full year.

Excelerate Energy (NYSE:EE - Get Free Report) was upgraded by analysts at The Goldman Sachs Group to a "strong-buy" rating in a note issued to investors on Wednesday,Zacks.com reports.

EE has been the topic of several other research reports. Wall Street Zen raised Excelerate Energy from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $42.00 price target on shares of Excelerate Energy in a report on Friday, May 8th. Stephens reiterated an "overweight" rating and set a $45.00 price objective on shares of Excelerate Energy in a report on Thursday, July 9th. Morgan Stanley lowered 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 research report on Tuesday, April 21st. Finally, Northland Securities set a $48.00 target price on shares of Excelerate Energy in a research report on Friday, May 15th. Three 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $40.64.

Excelerate Energy Price Performance

Shares of Excelerate Energy stock opened at $39.39 on Wednesday. The stock has a market cap of $4.48 billion, a price-to-earnings ratio of 32.02, a price-to-earnings-growth ratio of 1.40 and a beta of 1.23. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.60 and a current ratio of 2.60. The stock has a 50 day moving average price of $35.77 and a 200-day moving average price of $35.28. Excelerate Energy has a one year low of $21.28 and a one year high of $43.17.

Excelerate Energy (NYSE:EE - Get Free Report) last released its 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). Excelerate Energy had a net margin of 2.98% and a return on equity of 3.85%. The business had revenue of $433.44 million for the quarter, compared to the consensus estimate of $351.68 million. During the same period in the prior year, the company posted $0.49 EPS. The company's quarterly revenue was up 37.6% compared to the same quarter last year. Equities analysts expect that Excelerate Energy will post 1.52 EPS for the current year.

Institutional Investors Weigh In On Excelerate Energy

Several hedge funds have recently modified their holdings of EE. Arax Advisory Partners raised its stake in Excelerate Energy by 791.9% in the fourth quarter. Arax Advisory Partners now owns 883 shares of the company's stock worth $25,000 after buying an additional 784 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in Excelerate Energy during the fourth quarter worth $33,000. Essex Investment Management Co. LLC bought a new stake in Excelerate Energy during the 4th quarter valued at $41,000. CIBC Private Wealth Group LLC bought a new stake in Excelerate Energy during the 4th quarter valued at $56,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Excelerate Energy by 157.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,941 shares of the company's stock valued at $57,000 after acquiring an additional 1,186 shares during the period. Hedge funds and other institutional investors own 21.79% of the company's stock.

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.

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