Excelerate Energy (NYSE:EE) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Key Points

• Wells Fargo raised Excelerate Energy’s price target to $38 from $37 while maintaining an “equal weight” rating, implying 7.19% upside from the prior close.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $41; other targets range from $41 to $48.
• 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.

Excelerate Energy (NYSE:EE - Get Free Report) had its price target increased by investment analysts at Wells Fargo & Company from $37.00 to $38.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's target price indicates a potential upside of 7.19% from the company's previous close.

A number of other equities research analysts have also recently weighed in on EE. Jefferies Financial Group reaffirmed a "buy" rating and set a $48.00 price target on shares of Excelerate Energy in a report on Friday, July 10th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $42.00 target price on shares of Excelerate Energy in a report on Friday, May 8th. Wall Street Zen upgraded Excelerate Energy from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Northland Securities set a $48.00 price target on shares of Excelerate Energy in a research report on Friday, May 15th. Finally, Morgan Stanley set a $41.00 price objective on shares of Excelerate Energy in a report on Friday. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $41.00.

Excelerate Energy Trading Down 0.2%

Shares of EE stock opened at $35.45 on Wednesday. Excelerate Energy has a 12-month low of $22.86 and a 12-month high of $43.17. The company has a market capitalization of $4.04 billion, a P/E ratio of 24.45, a P/E/G ratio of 1.27 and a beta of 1.22. The firm has a 50-day moving average price of $36.84 and a 200 day moving average price of $36.24. The company has a quick ratio of 2.60, a current ratio of 1.80 and a debt-to-equity ratio of 0.52.

Excelerate Energy (NYSE:EE - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.02. The firm had revenue of $329.27 million for the quarter, compared to analyst estimates of $344.27 million. Excelerate Energy had a net margin of 3.23% and a return on equity of 2.24%. The company's revenue for the quarter was up 60.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 earnings per share. Research analysts forecast that Excelerate Energy will post 1.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Excelerate Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Arax Advisory Partners lifted its stake in shares of Excelerate Energy by 791.9% in the 4th quarter. Arax Advisory Partners now owns 883 shares of the company's stock valued at $25,000 after purchasing an additional 784 shares during the period. Global Retirement Partners LLC acquired a new position in Excelerate Energy in the fourth quarter valued at about $33,000. Essex Investment Management Co. LLC acquired a new position in Excelerate Energy in the fourth quarter valued at about $41,000. CIBC Private Wealth Group LLC bought a new position in Excelerate Energy during the fourth quarter worth about $56,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Excelerate Energy by 157.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,941 shares of the company's stock worth $57,000 after buying an additional 1,186 shares during the period. 21.79% of the stock is owned by institutional investors.

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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