Excelerate Energy (NYSE:EE) Reaches New 1-Year High

Shares of Excelerate Energy, Inc. (NYSE:EE) hit a new 52-week high on Thursday, trading as high as $24.12 before closing at the same price. The volume of shares traded was 32,710, which reflects a notable interest in the stock, especially compared to its previous close of $23.65.

Market Analyst Insights

Several research firms have recently provided their forecasts regarding Excelerate Energy. Northland Securities has raised its price target from $23.00 to $25.00, rating the stock as "outperform". Wells Fargo & Company, however, downgraded the rating from "equal weight" to "underweight", adjusting their price target from $20.00 to $19.00. On the other hand, Barclays updated their price target from $22.00 to $26.00, giving the company an "overweight" rating. Additionally, Stephens raised their target to $28.00 from $21.00 with a similar "overweight" designation. Currently, one analyst rates the stock as a sell, two as a hold, and five as a buy, leading to a market consensus rating of "Moderate Buy" with a target price of $23.57 according to MarketBeat.com.

Stock Performance Summary

The company's stock increased by 1.8%. Excelerate Energy's finances show a current ratio and quick ratio of 3.43, indicating strong liquidity and stability. The company has a debt-to-equity ratio of 0.35 and a market cap of $2.58 billion. Its price-to-earnings (P/E) ratio stands at 22.79, with a beta of 1.32, suggesting a higher volatility compared to the market. The 50-day and 200-day simple moving averages are $21.23 and $19.22, respectively.

Recent Earnings Report

Excelerate Energy reported its quarterly earnings on August 7. The company posted earnings per share (EPS) of $0.26, falling short of the $0.32 expected by analysts. The reported revenue for the quarter was $183.33 million, which was significantly below the consensus estimate of $259.14 million. This marks an increase from the previous year’s Q2, where the firm had an EPS of $0.23. Projections indicate that Excelerate Energy is expected to achieve an EPS of 1.14 for the current fiscal year.

Institutional Investments

Institutional investors have actively adjusted their holdings in Excelerate Energy. Van ECK Associates Corp's position was increased by 111.7% in Q3, acquiring an additional 8,547 shares to hold 16,197 shares valued at approximately $380,000. US Bancorp DE and Kings Path Partners LLC also bought new stakes in the firm valued at around $130,000 and $715,000 respectively. Cubist Systematic Strategies LLC significantly increased their stake by 836%, owning 35,707 shares worth approximately $658,000 after adding 31,892 shares during Q2. Overall, institutional investors hold about 21.79% of the company's stock.

Overview of Excelerate Energy

Excelerate Energy, Inc. provides adaptable liquefied natural gas (LNG) solutions on a global scale. The company’s services include regasification, floating storage and regasification units (FSRUs), alongside natural gas procurement and distribution.

Excelerate, Energy, Stocks