Excelerate Energy (NYSE:EE) Reaches New 12-Month High – Still a Buy?

Excelerate Energy, Inc. (NYSE:EE)’s share price reached a new 52-week high on Thursday . The stock traded as high as $41.21 and last traded at $41.1590, with a volume of 334910 shares changing hands. The stock had previously closed at $39.12.

Wall Street Analyst Weigh In

EE has been the topic of a number of research analyst reports. Tudor Pickering raised Excelerate Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 17th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $44.00 price objective on shares of Excelerate Energy in a report on Friday, February 6th. Jefferies Financial Group raised their price objective on Excelerate Energy from $37.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Excelerate Energy in a research note on Monday, December 29th. Finally, Raymond James Financial raised shares of Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 price target on the stock in a research note on Monday, January 5th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.50.

Excelerate Energy Stock Up 5.2%

The company has a market capitalization of $4.69 billion, a P/E ratio of 28.58, a PEG ratio of 1.25 and a beta of 1.36. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.39 and a quick ratio of 2.39. The company has a 50 day moving average of $31.36 and a 200-day moving average of $27.60.

Excelerate Energy announced that its Board of Directors has authorized a share buyback program on Thursday, December 11th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Institutional Trading of Excelerate Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. KLP Kapitalforvaltning AS lifted its stake in shares of Excelerate Energy by 645.2% in the 3rd 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 stake in Excelerate Energy in the second quarter worth $3,130,000. Knights of Columbus Asset Advisors LLC bought a new position in Excelerate Energy in the third quarter worth $1,845,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Excelerate Energy in the second quarter worth $519,000. Finally, Hillsdale Investment Management Inc. boosted its holdings in shares of Excelerate Energy by 32.9% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 171,700 shares of the company’s stock valued at $5,034,000 after buying an additional 42,500 shares in the last quarter. Hedge funds and other institutional investors own 21.79% of the company’s stock.

About Excelerate Energy

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.