JPMorgan Chase & Co. Reaffirms “Underweight” Rating for Excelerate Energy (NYSE:EE)

Excelerate Energy (NYSE:EE)‘s stock had its “underweight” rating restated by equities researchers at JPMorgan Chase & Co. in a report released on Tuesday, MarketBeat reports. They currently have a $31.00 target price on the stock, up from their prior target price of $22.00. JPMorgan Chase & Co.‘s price target indicates a potential upside of 5.30% from the company’s previous close.

A number of other equities analysts also recently issued reports on EE. Wells Fargo & Company increased their price target on shares of Excelerate Energy from $19.00 to $22.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 12th. Barclays increased their target price on Excelerate Energy from $22.00 to $26.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Stephens lifted their price target on Excelerate Energy from $28.00 to $36.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Northland Securities increased their price objective on Excelerate Energy from $29.00 to $37.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Finally, Morgan Stanley raised their price objective on Excelerate Energy from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $28.71.

Excelerate Energy Trading Down 0.5 %

EE opened at $29.44 on Tuesday. Excelerate Energy has a one year low of $13.38 and a one year high of $32.26. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.12 and a quick ratio of 4.12. The business has a 50 day simple moving average of $29.36 and a two-hundred day simple moving average of $23.40. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of 29.74, a PEG ratio of 2.28 and a beta of 1.42.

Excelerate Energy (NYSE:EE) last announced its earnings results on Wednesday, November 6th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The company 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 quarter in the prior year, the company earned $0.40 earnings per share. Analysts predict that Excelerate Energy will post 1.23 EPS for the current year.

Hedge Funds Weigh In On Excelerate Energy

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in Excelerate Energy by 34.4% during the third quarter. JPMorgan Chase & Co. now owns 50,046 shares of the company’s stock valued at $1,102,000 after purchasing an additional 12,802 shares during the period. Barclays PLC boosted its stake in shares of Excelerate Energy by 299.8% in the 3rd quarter. Barclays PLC now owns 26,822 shares of the company’s stock worth $591,000 after buying an additional 20,113 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Excelerate Energy by 580.7% in the third quarter. Public Employees Retirement System of Ohio now owns 15,084 shares of the company’s stock worth $332,000 after acquiring an additional 12,868 shares during the period. Quarry LP increased its position in Excelerate Energy by 28.9% during the third quarter. Quarry LP now owns 1,822 shares of the company’s stock valued at $40,000 after acquiring an additional 409 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Excelerate Energy by 40.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 180,204 shares of the company’s stock valued at $3,966,000 after acquiring an additional 52,007 shares during the period. 21.79% of the stock is currently owned by hedge funds and other 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.