Excelerate Energy (NYSE:EE) Sets New 1-Year High – Still a Buy?

Shares of Excelerate Energy, Inc. (NYSE:EE) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $37.63 and last traded at $37.1750, with a volume of 109277 shares trading hands. The stock had previously closed at $35.80.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Jefferies Financial Group raised their target price on Excelerate Energy from $37.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Tudor Pickering upgraded Excelerate Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 17th. Raymond James Financial raised shares of Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 price objective on the stock in a report on Monday, January 5th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $44.00 target price on shares of Excelerate Energy in a report on Friday. Finally, Morgan Stanley set a $30.00 price target on shares of Excelerate Energy and gave the stock an “equal weight” rating in a report on Thursday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.50.

Excelerate Energy Trading Up 4.1%

The stock has a market capitalization of $4.25 billion, a PE ratio of 25.96, a price-to-earnings-growth ratio of 1.45 and a beta of 1.36. The firm has a 50-day moving average price of $30.48 and a 200-day moving average price of $27.18. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 0.56.

Excelerate Energy (NYSE:EE) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.13. Excelerate Energy had a net margin of 3.46% and a return on equity of 4.34%. The company had revenue of $391.04 million during the quarter, compared to analyst estimates of $270.82 million. The business’s revenue was up 102.2% on a year-over-year basis. As a group, equities analysts forecast that Excelerate Energy, Inc. will post 1.16 EPS for the current fiscal year.

Excelerate Energy declared that its board has authorized 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 repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Excelerate Energy

Hedge funds have recently modified their holdings of the stock. KLP Kapitalforvaltning AS grew its holdings in Excelerate Energy by 645.2% during the third quarter. KLP Kapitalforvaltning AS now owns 69,300 shares of the company’s stock valued at $1,746,000 after purchasing an additional 60,000 shares during the period. Fortress Investment Group LLC purchased a new position in shares of Excelerate Energy during the 2nd quarter valued at $3,130,000. Knights of Columbus Asset Advisors LLC bought a new position in shares of Excelerate Energy during the 3rd quarter worth $1,845,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Excelerate Energy in the 2nd quarter worth about $519,000. Finally, Hillsdale Investment Management Inc. increased its holdings in Excelerate Energy by 32.9% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 171,700 shares of the company’s stock worth $5,034,000 after acquiring an additional 42,500 shares during the last quarter. Institutional investors 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.