Wells Fargo & Company Upgrades Excelerate Energy (NYSE:EE) to "Equal Weight"

Key Points

• Wells Fargo & Company upgraded Excelerate Energy from an "underweight" rating to an "equal weight" rating, indicating a more favorable outlook for the company's stock.
• Analysts have shown increasing confidence in Excelerate Energy, with a mix of ratings that include two sell ratings, one hold, and five buy ratings, leading to an average rating of "Hold" with a consensus target price of $32.29.
• Excelerate Energy reported a quarterly revenue increase of 11.6% year-over-year and exceeded earnings expectations with an EPS of $0.34, surpassing the consensus estimate of $0.33.

Excelerate Energy (NYSE:EE - Get Free Report) was upgraded by research analysts at Wells Fargo & Company from an "underweight" rating to an "equal weight" rating in a research report issued on Monday.

A number of other analysts have also recently issued reports on the company. Wall Street Zen raised Excelerate Energy from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Jefferies Financial Group began coverage on shares of Excelerate Energy in a research note on Thursday, June 5th. They set a "buy" rating and a $39.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $32.29.

Excelerate Energy Stock Performance

Shares of NYSE EE traded down $0.01 during trading on Monday, reaching $24.31. 907,964 shares of the company traded hands, compared to its average volume of 404,377. The company has a quick ratio of 3.34, a current ratio of 3.34 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $2.77 billion, a PE ratio of 16.53 and a beta of 1.38. The firm has a 50 day simple moving average of $27.74 and a 200-day simple moving average of $28.11. Excelerate Energy has a 52-week low of $17.70 and a 52-week high of $32.99.

Excelerate Energy (NYSE:EE - Get Free Report) last announced its earnings results on Monday, August 11th. The company reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.01. Excelerate Energy had a net margin of 3.93% and a return on equity of 2.20%. The firm's quarterly revenue was up 11.6% on a year-over-year basis. Equities research analysts anticipate that Excelerate Energy will post 1.16 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its position in shares of Excelerate Energy by 113.2% in the 4th quarter. JPMorgan Chase & Co. now owns 106,707 shares of the company's stock worth $3,228,000 after acquiring an additional 56,661 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Excelerate Energy by 14.1% in the fourth quarter. Renaissance Technologies LLC now owns 358,219 shares of the company's stock valued at $10,836,000 after purchasing an additional 44,400 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Excelerate Energy during the 4th quarter valued at $5,510,000. Sterling Capital Management LLC increased its holdings in shares of Excelerate Energy by 3.0% in the fourth quarter. Sterling Capital Management LLC now owns 17,119 shares of the company's stock worth $518,000 after purchasing an additional 494 shares during the period. Finally, Townsquare Capital LLC purchased a new position in Excelerate Energy in the fourth quarter worth $301,000. 21.79% of the stock is owned by institutional investors and hedge funds.

Excelerate Energy Company Profile

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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