Wells Fargo & Company Forecasts Strong Price Appreciation for Excelerate Energy (NYSE:EE) Stock

Excelerate Energy (NYSE:EE) had its target price raised by stock analysts at Wells Fargo & Company from $19.00 to $22.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 17.76% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Northland Securities raised their price objective on shares of Excelerate Energy from $25.00 to $29.00 and gave the company an “outperform” rating in a report on Monday. Stephens raised their price target on Excelerate Energy from $21.00 to $28.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, Barclays lifted their price target on Excelerate Energy from $22.00 to $26.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Excelerate Energy has a consensus rating of “Moderate Buy” and an average target price of $24.57.

Excelerate Energy Trading Down 4.3 %

NYSE:EE opened at $26.75 on Tuesday. The stock has a fifty day moving average price of $22.36 and a 200 day moving average price of $19.83. The company has a current ratio of 4.12, a quick ratio of 4.12 and a debt-to-equity ratio of 0.34. Excelerate Energy has a 12-month low of $13.38 and a 12-month high of $28.60. The firm has a market cap of $2.86 billion, a PE ratio of 27.02 and a beta of 1.28.

Excelerate Energy (NYSE:EE) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. The business had revenue of $193.42 million during the quarter, compared to the consensus estimate of $194.09 million. Excelerate Energy had a return on equity of 1.39% and a net margin of 3.14%. During the same period in the previous year, the company posted $0.40 earnings per share. Sell-side analysts anticipate that Excelerate Energy will post 1.18 earnings per share for the current fiscal year.

Institutional Trading of Excelerate Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in EE. Tortoise Capital Advisors L.L.C. increased its holdings in shares of Excelerate Energy by 10.1% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 814,090 shares of the company’s stock valued at $15,012,000 after acquiring an additional 74,946 shares during the period. Marshall Wace LLP grew its position in Excelerate Energy by 28.2% during the 2nd quarter. Marshall Wace LLP now owns 338,465 shares of the company’s stock worth $6,241,000 after purchasing an additional 74,491 shares during the last quarter. Scout Investments Inc. increased its stake in Excelerate Energy by 1.1% in the first quarter. Scout Investments Inc. now owns 253,480 shares of the company’s stock valued at $4,020,000 after purchasing an additional 2,673 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Excelerate Energy by 7.9% in the second quarter. Renaissance Technologies LLC now owns 249,282 shares of the company’s stock valued at $4,597,000 after buying an additional 18,282 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Excelerate Energy by 13.3% in the second quarter. Dimensional Fund Advisors LP now owns 176,334 shares of the company’s stock valued at $3,252,000 after buying an additional 20,661 shares during the last quarter. Institutional investors and hedge funds 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.