Excelerate Energy (NYSE:EE) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded Excelerate Energy (NYSE:EE) from a "hold" to a "strong sell" in its most recent report.
• Analyst coverage is mixed but leans positive overall: the MarketBeat consensus is a "Moderate Buy" with an average price target of $39.00 (two Strong Buy, four Buy, five Hold, one Sell).
• In the latest quarter EE reported $0.29 EPS (missing by $0.01) and $317.6M revenue (up 15.6% YoY); the company has a market cap of ~$3.82B and a P/E of 25.34.

Excelerate Energy (NYSE:EE - Get Free Report) was downgraded by analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report issued on Monday,Zacks.com reports.

Several other research firms also recently weighed in on EE. Raymond James Financial upgraded Excelerate Energy from an "outperform" rating to a "strong-buy" rating and set a $36.00 target price on the stock in a research report on Monday, January 5th. Barclays raised their target price on Excelerate Energy from $33.00 to $41.00 and gave the company an "overweight" rating in a research report on Monday, March 2nd. Weiss Ratings restated a "hold (c)" rating on shares of Excelerate Energy in a research report on Friday, March 27th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $44.00 target price on shares of Excelerate Energy in a research report on Friday, February 6th. Finally, Dnb Carnegie downgraded Excelerate Energy from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 19th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $39.00.

Excelerate Energy Stock Performance

Shares of EE stock opened at $33.45 on Monday. The company has a market capitalization of $3.82 billion, a P/E ratio of 25.34, a P/E/G ratio of 1.12 and a beta of 1.41. The business's 50 day moving average is $35.67 and its two-hundred day moving average is $31.99. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 0.54. Excelerate Energy has a 12-month low of $21.28 and a 12-month high of $43.17.

Excelerate Energy (NYSE:EE - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.01). Excelerate Energy had a net margin of 3.19% and a return on equity of 4.12%. The company had revenue of $317.57 million during the quarter, compared to analysts' expectations of $293.49 million. During the same period in the prior year, the business posted $0.40 earnings per share. The company's quarterly revenue was up 15.6% compared to the same quarter last year. Analysts expect that Excelerate Energy will post 1.66 EPS for the current fiscal year.

Insider Activity at Excelerate Energy

In related news, insider Oliver Simpson sold 6,000 shares of the 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 completion of the sale, the insider owned 51,719 shares of the company's stock, valued at approximately $1,766,203.85. This trade 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. Corporate insiders own 1.83% of the company's stock.

Institutional Investors Weigh In On Excelerate Energy

Several hedge funds and other institutional investors have recently made changes to their positions in EE. Copeland Capital Management LLC acquired a new stake in shares of Excelerate Energy in the fourth quarter valued at approximately $30,658,000. Wellington Management Group LLP increased its holdings in shares of Excelerate Energy by 24.9% in the fourth quarter. Wellington Management Group LLP now owns 3,607,182 shares of the company's stock valued at $101,181,000 after purchasing an additional 719,148 shares during the last quarter. Qube Research & Technologies Ltd increased its holdings in shares of Excelerate Energy by 328.4% in the second quarter. Qube Research & Technologies Ltd now owns 453,345 shares of the company's stock valued at $13,292,000 after purchasing an additional 347,521 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its holdings in shares of Excelerate Energy by 77.3% in the third quarter. Kayne Anderson Capital Advisors LP now owns 781,623 shares of the company's stock valued at $19,689,000 after purchasing an additional 340,747 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new stake in shares of Excelerate Energy in the first quarter valued at approximately $10,862,000. Institutional investors and hedge funds 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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