Adage Capital Partners GP L.L.C. Reduces Holdings in Excelerate Energy, Inc. (NYSE:EE)

Adage Capital Partners GP L.L.C. lowered its position in Excelerate Energy, Inc. (NYSE:EE) by 50.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 25,000 shares of the company’s stock after selling 25,000 shares during the period. Adage Capital Partners GP L.L.C.’s holdings in Excelerate Energy were worth $756,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EE. Intech Investment Management LLC acquired a new stake in shares of Excelerate Energy in the fourth quarter valued at about $220,000. JPMorgan Chase & Co. raised its holdings in Excelerate Energy by 34.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 50,046 shares of the company’s stock valued at $1,102,000 after acquiring an additional 12,802 shares during the last quarter. Ritholtz Wealth Management purchased a new position in Excelerate Energy in the 4th quarter worth approximately $580,000. Principal Financial Group Inc. purchased a new position in Excelerate Energy in the 4th quarter worth approximately $283,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of Excelerate Energy during the 4th quarter worth approximately $403,000. Hedge funds and other institutional investors own 21.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on EE. Wells Fargo & Company reiterated an “underweight” rating on shares of Excelerate Energy in a research report on Friday, March 28th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $31.00 price target (up previously from $22.00) on shares of Excelerate Energy in a research report on Tuesday, January 7th. Stephens restated an “overweight” rating and set a $36.00 price objective on shares of Excelerate Energy in a research report on Monday, March 3rd. Barclays boosted their target price on shares of Excelerate Energy from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Finally, Morgan Stanley restated an “underweight” rating and set a $29.00 price target (up previously from $25.00) on shares of Excelerate Energy in a report on Friday, January 31st. Three analysts have rated the stock with a sell rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $31.17.

Excelerate Energy Trading Down 0.4 %

NYSE EE opened at $26.79 on Wednesday. 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 stock has a market capitalization of $2.84 billion, a P/E ratio of 27.06, a PEG ratio of 5.82 and a beta of 1.37. The firm’s 50-day moving average is $27.70 and its two-hundred day moving average is $28.49. Excelerate Energy, Inc. has a 12 month low of $16.70 and a 12 month high of $32.99.

Excelerate Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 12th were given a dividend of $0.06 per share. The ex-dividend date was Wednesday, March 12th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.90%. Excelerate Energy’s payout ratio is currently 19.20%.

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.