GeoSphere Capital Management LLC increased its stake in Excelerate Energy, Inc. (NYSE:EE – Free Report) by 13.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 205,000 shares of the company’s stock after purchasing an additional 25,000 shares during the quarter. Excelerate Energy accounts for 1.9% of GeoSphere Capital Management LLC’s investment portfolio, making the stock its 6th largest position. GeoSphere Capital Management LLC’s holdings in Excelerate Energy were worth $5,750,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also made changes to their positions in EE. State of Alaska Department of Revenue purchased a new position in shares of Excelerate Energy in the 3rd quarter valued at about $30,000. Global Retirement Partners LLC purchased a new position in shares of Excelerate Energy in the 4th quarter valued at about $33,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Excelerate Energy in the 3rd quarter valued at about $38,000. Tower Research Capital LLC TRC increased its holdings in shares of Excelerate Energy by 157.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,941 shares of the company’s stock valued at $57,000 after purchasing an additional 1,186 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Excelerate Energy by 19.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,438 shares of the company’s stock valued at $61,000 after purchasing an additional 392 shares in the last quarter. Hedge funds and other institutional investors own 21.79% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on the stock. Morgan Stanley cut their price target on shares of Excelerate Energy from $41.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday, April 21st. Wells Fargo & Company cut their price target on shares of Excelerate Energy from $39.00 to $37.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. Zacks Research downgraded shares of Excelerate Energy from a “hold” rating to a “strong sell” rating in a report on Monday, April 27th. Barclays increased their price target on shares of Excelerate Energy from $33.00 to $41.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Excelerate Energy in a report on Friday, March 27th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Excelerate Energy currently has a consensus rating of “Moderate Buy” and an average price target of $38.33.
Insider Activity at Excelerate Energy
In other news, insider Oliver Simpson sold 6,000 shares of Excelerate Energy stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $34.15, for a total transaction of $204,900.00. Following the completion of the sale, the insider directly owned 51,719 shares in the company, valued at $1,766,203.85. The trade was a 10.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.34% of the stock is currently owned by company insiders.
Excelerate Energy Stock Performance
NYSE:EE opened at $36.09 on Monday. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.53. The firm has a 50-day moving average price of $34.27 and a two-hundred day moving average price of $32.97. Excelerate Energy, Inc. has a twelve month low of $21.28 and a twelve month high of $43.17. The company has a market capitalization of $4.11 billion, a P/E ratio of 29.34, a price-to-earnings-growth ratio of 1.31 and a beta of 1.32.
Excelerate Energy (NYSE:EE – Get Free Report) last posted its earnings results 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). The business had revenue of $433.44 million for the quarter, compared to analysts’ expectations of $351.68 million. Excelerate Energy had a net margin of 2.98% and a return on equity of 3.85%. The business’s revenue was up 37.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 earnings per share. As a group, research analysts expect that Excelerate Energy, Inc. will post 1.52 earnings per share for the current fiscal year.
Excelerate Energy Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Wednesday, May 20th will be issued a dividend of $0.08 per share. The ex-dividend date is Wednesday, May 20th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.9%. 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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