Wall Street Zen Downgrades Excelerate Energy (NYSE:EE) to Sell

Excelerate Energy (NYSE:EE) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

EE has been the subject of several other research reports. Jefferies Financial Group initiated coverage on shares of Excelerate Energy in a research report on Thursday, June 5th. They set a “buy” rating and a $39.00 price target for the company. Wells Fargo & Company set a $26.00 price target on shares of Excelerate Energy in a research report on Monday. Finally, Citigroup reiterated an “outperform” rating on shares of Excelerate Energy in a research report on Wednesday. Three analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Excelerate Energy has an average rating of “Hold” and a consensus price target of $32.86.

Excelerate Energy Trading Down 2.5%

EE opened at $23.79 on Friday. The company has a current ratio of 2.60, a quick ratio of 3.34 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $2.71 billion, a PE ratio of 17.49 and a beta of 1.38. Excelerate Energy has a 1-year low of $17.70 and a 1-year high of $32.99. The firm has a 50-day moving average price of $27.13 and a two-hundred day moving average price of $27.92.

Excelerate Energy (NYSE:EE) last posted its quarterly earnings data on Monday, August 11th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02. Excelerate Energy had a net margin of 3.64% and a return on equity of 4.16%. The firm had revenue of $204.60 million during the quarter, compared to analysts’ expectations of $259.82 million. The business’s revenue was up 11.6% compared to the same quarter last year. As a group, equities analysts anticipate that Excelerate Energy will post 1.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Excelerate Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in EE. JPMorgan Chase & Co. increased 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 valued at $3,228,000 after buying an additional 56,661 shares in the last quarter. Raymond James Financial Inc. bought a new position in Excelerate Energy during the fourth quarter worth about $5,510,000. Townsquare Capital LLC acquired a new position in Excelerate Energy in the fourth quarter valued at about $301,000. Summit Investment Advisors Inc. grew its stake in Excelerate Energy by 28.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,791 shares of the company’s stock valued at $54,000 after acquiring an additional 400 shares during the period. Finally, Barclays PLC increased its holdings in shares of Excelerate Energy by 11.0% in the fourth quarter. Barclays PLC now owns 29,779 shares of the company’s stock worth $901,000 after acquiring an additional 2,957 shares in the last quarter. 21.79% of the stock is owned by institutional investors.

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.