SIR Capital Management L.P. cut its stake in Excelerate Energy, Inc. (NYSE:EE – Free Report) by 78.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 86,035 shares of the company’s stock after selling 315,593 shares during the period. SIR Capital Management L.P.’s holdings in Excelerate Energy were worth $2,413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. UBS Group AG grew its position in shares of Excelerate Energy by 79.0% in the fourth quarter. UBS Group AG now owns 416,082 shares of the company’s stock valued at $11,671,000 after purchasing an additional 183,664 shares in the last quarter. Principal Financial Group Inc. grew its position in Excelerate Energy by 153.5% in the third quarter. Principal Financial Group Inc. now owns 41,518 shares of the company’s stock worth $1,046,000 after acquiring an additional 25,139 shares during the period. JPMorgan Chase & Co. grew its position in Excelerate Energy by 37.3% in the third quarter. JPMorgan Chase & Co. now owns 408,152 shares of the company’s stock worth $10,281,000 after acquiring an additional 110,970 shares during the period. Amitell Capital Pte Ltd purchased a new position in Excelerate Energy in the third quarter worth approximately $737,000. Finally, TimesSquare Capital Management LLC grew its position in Excelerate Energy by 29.0% in the third quarter. TimesSquare Capital Management LLC now owns 924,123 shares of the company’s stock worth $23,279,000 after acquiring an additional 207,771 shares during the period. 21.79% of the stock is currently owned by hedge funds and other institutional investors.
Excelerate Energy Stock Up 3.5%
NYSE:EE opened at $34.29 on Friday. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.53. The stock’s fifty day moving average is $34.15 and its two-hundred day moving average is $33.59. Excelerate Energy, Inc. has a 52 week low of $21.28 and a 52 week high of $43.17. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of 27.88, a price-to-earnings-growth ratio of 1.20 and a beta of 1.27.
Excelerate Energy Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Wednesday, May 20th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Wednesday, May 20th. Excelerate Energy’s dividend payout ratio is 26.02%.
Insider Buying and Selling
In other Excelerate Energy news, insider Oliver Simpson sold 6,000 shares of the company’s stock in a transaction on Friday, March 20th. The stock was sold at an average price of $34.15, for a total transaction of $204,900.00. Following the transaction, the insider directly owned 51,719 shares in the company, valued at $1,766,203.85. This represents a 10.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.34% of the stock is owned by company insiders.
Analysts Set New Price Targets
Several research analysts recently weighed in on EE shares. Wells Fargo & Company lowered their price objective on Excelerate Energy from $39.00 to $37.00 and set an “equal weight” rating for the company in a research report on Friday, May 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Excelerate Energy in a research report on Friday, March 27th. Zacks Research lowered Excelerate Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, April 27th. Dnb Carnegie lowered Excelerate Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 19th. Finally, Northland Securities set a $48.00 price objective on Excelerate Energy in a research report on Friday, May 15th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Excelerate Energy has an average rating of “Moderate Buy” and a consensus price target of $38.33.
Get Our Latest Analysis on Excelerate Energy
Excelerate Energy Profile
Excelerate Energy (NYSE: EE) is a Houston‐based energy infrastructure company specializing in liquefied natural gas (LNG) solutions. The company develops, owns and operates floating regasification units (FSRUs) that convert shipped LNG into natural gas for delivery into existing pipeline networks. Excelerate Energy’s integrated platform also includes specialized LNG carriers, proprietary regasification technology and on‐shore support facilities, enabling rapid deployment of import terminals without extensive capital construction.
Founded in the early 2000s, Excelerate Energy pioneered the first FSRU in 2007, demonstrating the flexibility and cost advantages of floating LNG import infrastructure.
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