Abacus Planning Group Inc. Sells 5,000 Shares of Excelerate Energy, Inc. (NYSE:EE)

Abacus Planning Group Inc. decreased its stake in Excelerate Energy, Inc. (NYSE:EE) by 15.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,500 shares of the company’s stock after selling 5,000 shares during the period. Abacus Planning Group Inc.’s holdings in Excelerate Energy were worth $489,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in EE. New York State Teachers Retirement System bought a new stake in shares of Excelerate Energy in the first quarter valued at approximately $26,000. Public Employees Retirement System of Ohio bought a new stake in shares of Excelerate Energy in the first quarter valued at approximately $38,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Excelerate Energy in the first quarter valued at approximately $118,000. BOKF NA raised its position in shares of Excelerate Energy by 5.8% in the first quarter. BOKF NA now owns 12,700 shares of the company’s stock valued at $201,000 after purchasing an additional 700 shares during the period. Finally, Bailard Inc. bought a new stake in shares of Excelerate Energy in the second quarter valued at approximately $297,000. Institutional investors own 21.79% of the company’s stock.

Excelerate Energy Stock Performance

Excelerate Energy stock opened at $18.23 on Friday. The firm’s 50 day simple moving average is $19.05 and its 200 day simple moving average is $17.34. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $1.95 billion, a PE ratio of 18.05 and a beta of 1.31. Excelerate Energy, Inc. has a 1-year low of $13.38 and a 1-year high of $20.66.

Excelerate Energy (NYSE:EE) last posted its earnings results on Wednesday, August 7th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). Excelerate Energy had a return on equity of 1.68% and a net margin of 3.40%. The firm had revenue of $183.33 million for the quarter, compared to the consensus estimate of $259.14 million. During the same period last year, the company posted $0.23 EPS. As a group, analysts expect that Excelerate Energy, Inc. will post 1.14 earnings per share for the current fiscal year.

Excelerate Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st will be paid a $0.025 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $0.10 dividend on an annualized basis and a yield of 0.55%. Excelerate Energy’s dividend payout ratio is presently 9.90%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Stephens reissued an “overweight” rating and issued a $21.00 price target on shares of Excelerate Energy in a research report on Tuesday, July 9th. Northland Securities boosted their price target on shares of Excelerate Energy from $23.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. Finally, Wells Fargo & Company lowered shares of Excelerate Energy from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $20.00 to $19.00 in a research report on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Excelerate Energy currently has a consensus rating of “Hold” and an average target price of $22.00.

Excelerate Energy 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.