Excelerate Energy (NYSE:EE) Sets New 12-Month High – Here’s What Happened

Shares of Excelerate Energy, Inc. (NYSE:EE) hit a new 52-week high on Wednesday . The company traded as high as $42.28 and last traded at $41.8090, with a volume of 297656 shares. The stock had previously closed at $41.84.

Wall Street Analyst Weigh In

EE has been the subject of several recent analyst reports. Morgan Stanley set a $30.00 price objective on shares of Excelerate Energy and gave the company an “equal weight” rating in a research note on Thursday, November 6th. Tudor Pickering upgraded Excelerate Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 17th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $44.00 target price on shares of Excelerate Energy in a report on Friday, February 6th. Northland Securities set a $50.00 price target on Excelerate Energy in a research note on Friday, January 30th. Finally, Wall Street Zen raised shares of Excelerate Energy from a “hold” rating to a “buy” rating in a research note on Sunday, January 11th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.50.

Excelerate Energy Trading Down 0.1%

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 firm has a market cap of $4.77 billion, a price-to-earnings ratio of 29.03, a price-to-earnings-growth ratio of 1.33 and a beta of 1.36. The business’s 50-day moving average price is $32.40 and its two-hundred day moving average price is $28.08.

Excelerate Energy declared that its board has authorized a stock buyback program on Thursday, December 11th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Institutional Trading of Excelerate Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Arax Advisory Partners grew its position in Excelerate Energy by 791.9% during the fourth quarter. Arax Advisory Partners now owns 883 shares of the company’s stock valued at $25,000 after acquiring an additional 784 shares during the period. AlphaQuest LLC purchased a new stake in shares of Excelerate Energy during the 2nd quarter worth about $30,000. State of Alaska Department of Revenue acquired a new stake in Excelerate Energy during the 3rd quarter worth approximately $30,000. Global Retirement Partners LLC purchased a new position in Excelerate Energy in the fourth quarter valued at approximately $33,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in Excelerate Energy during the third quarter valued at approximately $38,000. 21.79% of the stock is currently owned by institutional investors and hedge funds.

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.