Martingale Asset Management L P Boosts Stake in Excelerate Energy, Inc. (NYSE:EE)

Martingale Asset Management L P lifted its holdings in shares of Excelerate Energy, Inc. (NYSE:EE) by 39.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,690 shares of the company’s stock after purchasing an additional 7,880 shares during the quarter. Martingale Asset Management L P’s holdings in Excelerate Energy were worth $609,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new stake in Excelerate Energy in the first quarter valued at approximately $38,000. Bailard Inc. acquired a new position in Excelerate Energy in the 2nd quarter valued at about $297,000. nVerses Capital LLC purchased a new position in shares of Excelerate Energy in the second quarter valued at approximately $26,000. Rhumbline Advisers increased its stake in Excelerate Energy by 9.6% during the 2nd quarter. Rhumbline Advisers now owns 29,243 shares of the company’s stock worth $539,000 after buying an additional 2,553 shares during the period. Finally, Tortoise Capital Advisors L.L.C. increased its stake in Excelerate Energy by 10.1% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 814,090 shares of the company’s stock worth $15,012,000 after buying an additional 74,946 shares during the period. 21.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EE. Barclays increased their price objective on Excelerate Energy from $22.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Stephens lifted their price objective on Excelerate Energy from $21.00 to $28.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Morgan Stanley upped their target price on shares of Excelerate Energy from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Northland Securities lifted their price target on shares of Excelerate Energy from $25.00 to $29.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company increased their price objective on shares of Excelerate Energy from $19.00 to $22.00 and gave the company an “underweight” rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $25.67.

Excelerate Energy Price Performance

Shares of EE opened at $30.23 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.12 and a quick ratio of 4.12. Excelerate Energy, Inc. has a 1-year low of $13.38 and a 1-year high of $31.89. The stock has a market cap of $3.21 billion, a PE ratio of 30.54, a price-to-earnings-growth ratio of 2.19 and a beta of 1.43. The firm has a fifty day moving average price of $25.39 and a 200 day moving average price of $21.04.

Excelerate Energy (NYSE:EE) last posted its earnings results on Wednesday, November 6th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.03. The business had revenue of $193.42 million during the quarter, compared to the consensus estimate of $194.09 million. Excelerate Energy had a return on equity of 1.39% and a net margin of 3.14%. During the same period in the previous year, the business earned $0.40 EPS. As a group, sell-side analysts anticipate that Excelerate Energy, Inc. will post 1.23 EPS for the current year.

Excelerate Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Wednesday, November 20th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.79%. This is a boost from Excelerate Energy’s previous quarterly dividend of $0.03. The ex-dividend date is Wednesday, November 20th. Excelerate Energy’s payout ratio is presently 24.24%.

Excelerate Energy Company 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.