Morgan Stanley Raises Excelerate Energy (NYSE:EE) Price Target to $25.00

Excelerate Energy (NYSE:EE) had its price objective raised by Morgan Stanley from $23.00 to $25.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target would indicate a potential downside of 6.54% from the company’s current price.

A number of other analysts also recently weighed in on the company. Barclays lifted their price target on Excelerate Energy from $22.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Stephens raised their price objective on shares of Excelerate Energy from $21.00 to $28.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Wells Fargo & Company upped their target price on shares of Excelerate Energy from $19.00 to $22.00 and gave the stock an “underweight” rating in a research report on Tuesday. Finally, Northland Securities increased their target price on shares of Excelerate Energy from $25.00 to $29.00 and gave the company an “outperform” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Excelerate Energy has a consensus rating of “Moderate Buy” and a consensus price target of $25.43.

Excelerate Energy Stock Performance

NYSE EE opened at $26.75 on Thursday. The business’s 50-day moving average price is $22.36 and its 200 day moving average price is $19.83. The company has a quick ratio of 4.12, a current ratio of 4.12 and a debt-to-equity ratio of 0.34. The firm has a market cap of $2.86 billion, a P/E ratio of 27.02 and a beta of 1.28. Excelerate Energy has a 52-week low of $13.38 and a 52-week high of $28.60.

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

Hedge Funds Weigh In On Excelerate Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Jacobs Levy Equity Management Inc. purchased a new position in Excelerate Energy in the first quarter valued at approximately $2,202,000. Bailard Inc. acquired a new stake in shares of Excelerate Energy in the second quarter worth $297,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Excelerate Energy in the 1st quarter valued at $118,000. Marshall Wace LLP lifted its holdings in shares of Excelerate Energy by 28.2% during the 2nd quarter. Marshall Wace LLP now owns 338,465 shares of the company’s stock valued at $6,241,000 after acquiring an additional 74,491 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in Excelerate Energy by 836.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 35,707 shares of the company’s stock worth $658,000 after purchasing an additional 31,892 shares during the period. 21.79% of the stock is owned by institutional investors and hedge funds.

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.