Principal Financial Group Inc. lessened its stake in shares of Excelerate Energy, Inc. (NYSE:EE – Free Report) by 46.9% in the first quarter, HoldingsChannel reports. The firm owned 32,441 shares of the company’s stock after selling 28,649 shares during the quarter. Principal Financial Group Inc.’s holdings in Excelerate Energy were worth $1,084,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. Arax Advisory Partners lifted its holdings in Excelerate Energy by 791.9% in the 4th quarter. Arax Advisory Partners now owns 883 shares of the company’s stock valued at $25,000 after purchasing an additional 784 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in shares of Excelerate Energy during the fourth quarter worth about $33,000. Essex Investment Management Co. LLC purchased a new stake in shares of Excelerate Energy during the fourth quarter worth about $41,000. CIBC Private Wealth Group LLC purchased a new stake in shares of Excelerate Energy during the fourth quarter worth about $56,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Excelerate Energy by 157.1% in the second quarter. Tower Research Capital LLC TRC now owns 1,941 shares of the company’s stock valued at $57,000 after buying an additional 1,186 shares during the last quarter. Institutional investors and hedge funds own 21.79% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on EE. Weiss Ratings reissued a “hold (c)” rating on shares of Excelerate Energy in a research note on Wednesday, June 24th. Zacks Research raised shares of Excelerate Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. The Goldman Sachs Group initiated coverage on Excelerate Energy in a report on Wednesday, July 15th. They issued a “buy” rating and a $49.00 price target for the company. Wells Fargo & Company reduced their price target on Excelerate Energy from $39.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Friday, May 8th. Finally, Northland Securities set a $48.00 price objective on Excelerate Energy in a report on Friday, May 15th. Three research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $40.64.
Excelerate Energy Stock Up 2.6%
EE opened at $39.22 on Friday. Excelerate Energy, Inc. has a 12 month low of $21.28 and a 12 month high of $43.17. The business has a 50-day moving average of $36.40 and a two-hundred day moving average of $36.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.60 and a quick ratio of 2.60. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 31.89, a price-to-earnings-growth ratio of 1.39 and a beta of 1.23.
Excelerate Energy (NYSE:EE – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). Excelerate Energy had a return on equity of 3.85% and a net margin of 2.98%.The company had revenue of $433.44 million for the quarter, compared to analysts’ expectations of $351.68 million. During the same quarter in the previous year, the company earned $0.49 earnings per share. The company’s revenue was up 37.6% on a year-over-year basis. On average, research analysts expect that Excelerate Energy, Inc. will post 1.52 earnings per share for the current year.
Excelerate Energy Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Wednesday, August 19th will be paid a dividend of $0.09 per share. This is an increase from Excelerate Energy’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, August 19th. Excelerate Energy’s payout ratio is 26.02%.
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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