CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new stake in Excelerate Energy, Inc. (NYSE:EE – Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 325,000 shares of the company’s stock, valued at approximately $10,862,000.
Several other large investors have also recently bought and sold shares of the company. Copeland Capital Management LLC bought a new position in Excelerate Energy during the fourth quarter worth about $30,658,000. Wellington Management Group LLP increased its holdings in shares of Excelerate Energy by 24.9% in the fourth quarter. Wellington Management Group LLP now owns 3,607,182 shares of the company’s stock worth $101,181,000 after acquiring an additional 719,148 shares in the last quarter. Qube Research & Technologies Ltd increased its holdings in shares of Excelerate Energy by 328.4% in the second quarter. Qube Research & Technologies Ltd now owns 453,345 shares of the company’s stock worth $13,292,000 after acquiring an additional 347,521 shares in the last quarter. Squarepoint Ops LLC raised its position in shares of Excelerate Energy by 219.5% during the third quarter. Squarepoint Ops LLC now owns 348,394 shares of the company’s stock worth $8,776,000 after purchasing an additional 239,358 shares during the period. Finally, Marshall Wace LLP lifted its holdings in shares of Excelerate Energy by 430.3% during the 2nd quarter. Marshall Wace LLP now owns 292,150 shares of the company’s stock valued at $8,566,000 after purchasing an additional 237,056 shares in the last quarter. Institutional investors own 21.79% of the company’s stock.
Excelerate Energy Trading Down 0.2%
NYSE:EE opened at $37.91 on Monday. The company has a market cap of $4.32 billion, a P/E ratio of 30.82, a price-to-earnings-growth ratio of 1.38 and a beta of 1.23. Excelerate Energy, Inc. has a twelve month low of $21.28 and a twelve month high of $43.17. The business has a 50 day moving average price of $34.88 and a two-hundred day moving average price of $34.54. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.53.
Excelerate Energy Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Wednesday, May 20th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $0.32 annualized dividend and a dividend yield of 0.8%. Excelerate Energy’s payout ratio is 26.02%.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Excelerate Energy in a research note on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $42.00 price target on shares of Excelerate Energy in a research note on Friday, May 8th. Wall Street Zen raised shares of Excelerate Energy from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Zacks Research lowered shares of Excelerate Energy from a “hold” rating to a “strong sell” rating in a report on Monday, April 27th. Finally, Morgan Stanley cut their price objective on shares of Excelerate Energy from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 21st. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.33.
Check Out Our Latest Analysis on Excelerate Energy
About Excelerate Energy
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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