Summit Global Investments Takes Position in Excelerate Energy, Inc. (NYSE:EE)

Summit Global Investments bought a new stake in Excelerate Energy, Inc. (NYSE:EE) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 12,374 shares of the company’s stock, valued at approximately $374,000.

A number of other institutional investors have also added to or reduced their stakes in EE. SBI Securities Co. Ltd. bought a new stake in shares of Excelerate Energy during the fourth quarter valued at approximately $27,000. Quarry LP grew its position in Excelerate Energy by 28.9% in the 3rd quarter. Quarry LP now owns 1,822 shares of the company’s stock valued at $40,000 after purchasing an additional 409 shares during the period. Quantbot Technologies LP bought a new stake in Excelerate Energy during the 3rd quarter valued at $94,000. Cable Hill Partners LLC acquired a new position in Excelerate Energy during the fourth quarter worth $202,000. Finally, Intech Investment Management LLC bought a new position in shares of Excelerate Energy in the fourth quarter valued at $220,000. 21.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Northland Securities boosted their target price on shares of Excelerate Energy from $29.00 to $37.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Barclays increased their price objective on Excelerate Energy from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Morgan Stanley reaffirmed an “underweight” rating and set a $29.00 target price (up previously from $25.00) on shares of Excelerate Energy in a research report on Friday, January 31st. Stephens reissued an “overweight” rating and issued a $36.00 price target on shares of Excelerate Energy in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $31.00 price objective (up from $22.00) on shares of Excelerate Energy in a report on Tuesday, January 7th. Three equities research analysts have rated the stock with a sell rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $31.17.

Excelerate Energy Stock Up 5.4 %

EE stock opened at $30.75 on Tuesday. Excelerate Energy, Inc. has a 1-year low of $14.94 and a 1-year high of $32.99. The stock has a market cap of $3.26 billion, a P/E ratio of 31.06, a P/E/G ratio of 5.82 and a beta of 1.39. The stock’s fifty day simple moving average is $29.84 and its two-hundred day simple moving average is $27.47. The company has a current ratio of 4.12, a quick ratio of 4.12 and a debt-to-equity ratio of 0.34.

Excelerate Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 12th will be given a dividend of $0.06 per share. The ex-dividend date is Wednesday, March 12th. This represents a $0.24 annualized dividend and a yield of 0.78%. Excelerate Energy’s payout ratio is currently 19.20%.

About Excelerate Energy

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.