Excelerate Energy (NYSE:EE) Given “Underweight” Rating at Morgan Stanley

Morgan Stanley reissued their underweight rating on shares of Excelerate Energy (NYSE:EE) in a research report released on Friday morning,Benzinga reports. Morgan Stanley currently has a $29.00 price target on the stock, up from their previous price target of $25.00.

Other research analysts have also recently issued reports about the stock. Stephens raised their target price on shares of Excelerate Energy from $28.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. restated an “underweight” rating and set a $31.00 price target (up from $22.00) on shares of Excelerate Energy in a report on Tuesday, January 7th. Wells Fargo & Company raised their price target on shares of Excelerate Energy from $19.00 to $22.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. Northland Securities raised their price target on shares of Excelerate Energy from $29.00 to $37.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Finally, Barclays raised their price target on shares of Excelerate Energy from $26.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $31.00.

Excelerate Energy Stock Performance

Shares of EE opened at $29.76 on Friday. Excelerate Energy has a one year low of $13.38 and a one year high of $32.99. The company has a 50-day moving average of $30.67 and a two-hundred day moving average of $24.83. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of 30.06, a PEG ratio of 1.95 and a beta of 1.42. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.12 and a quick ratio of 4.12.

Excelerate Energy (NYSE:EE) last announced its earnings results on Wednesday, November 6th. The company reported $0.35 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $194.09 million. During the same period last year, the company posted $0.40 earnings per share. On average, equities research analysts expect that Excelerate Energy will post 1.22 earnings per share for the current year.

Hedge Funds Weigh In On Excelerate Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP raised 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 in the last quarter. SG Americas Securities LLC raised its position in shares of Excelerate Energy by 11.6% in the fourth quarter. SG Americas Securities LLC now owns 8,141 shares of the company’s stock valued at $246,000 after purchasing an additional 845 shares during the period. Verition Fund Management LLC raised its position in shares of Excelerate Energy by 27.8% in the third quarter. Verition Fund Management LLC now owns 17,724 shares of the company’s stock valued at $390,000 after purchasing an additional 3,855 shares during the period. Quantbot Technologies LP bought a new position in shares of Excelerate Energy in the third quarter valued at approximately $94,000. Finally, US Bancorp DE bought a new position in shares of Excelerate Energy in the third quarter valued at approximately $130,000. Institutional investors own 21.79% of the company’s stock.

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.