Excelerate Energy (NYSE:EE) Receives Underweight Rating from Morgan Stanley

Excelerate Energy (NYSE:EE)‘s stock had its “underweight” rating reaffirmed by analysts at Morgan Stanley in a note issued to investors on Friday,Benzinga reports. They currently have a $29.00 target price on the stock, up from their previous target price of $25.00. Morgan Stanley’s target price would indicate a potential downside of 2.55% from the stock’s previous close.

EE has been the topic of several other research reports. Barclays increased their price target on Excelerate Energy from $26.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, January 13th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $31.00 target price (up previously from $22.00) on shares of Excelerate Energy in a report on Tuesday, January 7th. Northland Securities upped their price target on shares of Excelerate Energy from $29.00 to $37.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Wells Fargo & Company boosted their target price on Excelerate Energy from $19.00 to $22.00 and gave the company an “underweight” rating in a research report on Tuesday, November 12th. Finally, Stephens increased their price target on Excelerate Energy from $28.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $31.00.

Excelerate Energy Price Performance

Excelerate Energy stock opened at $29.76 on Friday. Excelerate Energy has a 52-week low of $13.38 and a 52-week high of $32.99. The company has a quick ratio of 4.12, a current ratio of 4.12 and a debt-to-equity ratio of 0.34. The firm’s fifty day moving average is $30.67 and its 200 day moving average is $24.83. The company has a market cap of $3.16 billion, a price-to-earnings ratio of 30.06, a PEG ratio of 1.95 and a beta of 1.42.

Excelerate Energy (NYSE:EE) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Excelerate Energy had a net margin of 3.14% and a return on equity of 1.39%. The firm had revenue of $193.42 million during the quarter, compared to the consensus estimate of $194.09 million. During the same quarter last year, the firm earned $0.40 EPS. Sell-side analysts forecast that Excelerate Energy will post 1.22 EPS for the current fiscal year.

Institutional Trading of Excelerate Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP raised its holdings in shares of Excelerate Energy by 28.9% in the 3rd quarter. Quarry LP now owns 1,822 shares of the company’s stock valued at $40,000 after purchasing an additional 409 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Excelerate Energy by 11.6% during the 4th quarter. SG Americas Securities LLC now owns 8,141 shares of the company’s stock worth $246,000 after acquiring an additional 845 shares in the last quarter. Verition Fund Management LLC lifted its position in Excelerate Energy by 27.8% during the third quarter. Verition Fund Management LLC now owns 17,724 shares of the company’s stock valued at $390,000 after acquiring an additional 3,855 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Excelerate Energy in the third quarter valued at approximately $94,000. Finally, US Bancorp DE purchased a new position in Excelerate Energy in the third quarter worth $130,000. Institutional investors own 21.79% of the company’s stock.

About Excelerate Energy

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.