Wells Fargo & Company Forecasts Strong Price Appreciation for Excelerate Energy (NYSE:EE) Stock

by · The Markets Daily

Excelerate Energy (NYSE:EE – Get Free Report) had its price target boosted by analysts at Wells Fargo & Company from $29.00 to $39.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential downside of 1.84% from the stock’s current price.

A number of other research analysts have also recently commented on EE. Dnb Carnegie cut Excelerate Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 19th. Northland Securities set a $50.00 target price on Excelerate Energy in a research note on Friday, January 30th. Wall Street Zen raised Excelerate Energy from a “hold” rating to a “buy” rating in a research report on Sunday, January 11th. Jefferies Financial Group upped their price objective on Excelerate Energy from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Finally, Morgan Stanley boosted their target price on Excelerate Energy from $30.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Excelerate Energy has an average rating of “Moderate Buy” and a consensus target price of $37.80.

View Our Latest Research Report on EE

Excelerate Energy Price Performance

Excelerate Energy stock traded up $0.21 during midday trading on Friday, reaching $39.73. The company had a trading volume of 116,270 shares, compared to its average volume of 392,467. The company has a market capitalization of $4.53 billion, a P/E ratio of 30.07, a P/E/G ratio of 1.34 and a beta of 1.36. Excelerate Energy has a 12-month low of $21.28 and a 12-month high of $43.07. The firm’s fifty day simple moving average is $34.52 and its 200-day simple moving average is $28.88. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.39 and a quick ratio of 2.39.

Excelerate Energy (NYSE:EE – Get Free Report) last posted 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 return on equity of 4.18% and a net margin of 3.19%.The business had revenue of $317.57 million for the quarter, compared to analyst estimates of $293.49 million. During the same quarter in the previous year, the firm posted $0.40 earnings per share. The business’s revenue was up 15.6% compared to the same quarter last year. As a group, equities analysts anticipate that Excelerate Energy will post 1.16 EPS for the current year.

Excelerate Energy declared that its board has approved a share buyback plan on Thursday, December 11th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Excelerate Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Copeland Capital Management LLC acquired a new position in Excelerate Energy in the fourth quarter valued at $30,658,000. Wellington Management Group LLP increased its position in Excelerate Energy by 24.9% in the 4th quarter. Wellington Management Group LLP now owns 3,607,182 shares of the company’s stock valued at $101,181,000 after acquiring an additional 719,148 shares during the period. Kayne Anderson Capital Advisors LP purchased a new stake in Excelerate Energy during the 2nd quarter valued at approximately $12,926,000. Qube Research & Technologies Ltd lifted its position in Excelerate Energy by 328.4% during the 2nd quarter. Qube Research & Technologies Ltd now owns 453,345 shares of the company’s stock worth $13,292,000 after acquiring an additional 347,521 shares during the period. Finally, Squarepoint Ops LLC lifted its position in Excelerate Energy by 219.5% during the 3rd quarter. Squarepoint Ops LLC now owns 348,394 shares of the company’s stock worth $8,776,000 after acquiring an additional 239,358 shares during the period. Institutional investors and hedge funds own 21.79% of the company’s stock.

About Excelerate Energy

(Get Free Report)

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.

Featured Articles