Corton Capital Inc. Makes New Investment in Excelerate Energy, Inc. (NYSE:EE)

Corton Capital Inc. acquired a new stake in shares of Excelerate Energy, Inc. (NYSE:EE - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,367 shares of the company's stock, valued at approximately $465,000. Excelerate Energy makes up approximately 0.3% of Corton Capital Inc.'s portfolio, making the stock its 20th biggest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. TimesSquare Capital Management LLC bought a new stake in Excelerate Energy in the fourth quarter worth about $13,854,000. Renaissance Technologies LLC raised its stake in Excelerate Energy by 14.1% in the 4th quarter. Renaissance Technologies LLC now owns 358,219 shares of the company's stock valued at $10,836,000 after acquiring an additional 44,400 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Excelerate Energy by 10.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 261,110 shares of the company's stock valued at $7,898,000 after purchasing an additional 25,649 shares during the last quarter. Wellington Management Group LLP bought a new position in Excelerate Energy during the fourth quarter worth about $5,921,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Excelerate Energy in the fourth quarter worth about $5,510,000. Institutional investors and hedge funds own 21.79% of the company's stock.

Excelerate Energy Stock Performance

Excelerate Energy stock opened at $25.74 on Tuesday. The company has a current ratio of 4.12, a quick ratio of 4.12 and a debt-to-equity ratio of 0.34. The firm has a market cap of $2.73 billion, a P/E ratio of 26.00, a P/E/G ratio of 5.82 and a beta of 1.39. Excelerate Energy, Inc. has a 1-year low of $16.70 and a 1-year high of $32.99. The firm has a 50-day moving average of $27.51 and a 200-day moving average of $28.59.

Excelerate Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Wednesday, May 21st will be paid a dividend of $0.06 per share. The ex-dividend date is Wednesday, May 21st. This represents a $0.24 annualized dividend and a dividend yield of 0.93%. Excelerate Energy's dividend payout ratio (DPR) is presently 19.20%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on EE. Wells Fargo & Company reaffirmed an "underweight" rating on shares of Excelerate Energy in a report on Friday, March 28th. Morgan Stanley restated an "underweight" rating and issued a $29.00 target price (up from $25.00) on shares of Excelerate Energy in a research note on Friday, January 31st. Barclays boosted their price objective on Excelerate Energy from $31.00 to $32.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $31.00 target price (up from $22.00) on shares of Excelerate Energy in a research report on Tuesday, January 7th. Finally, Stephens reissued an "overweight" rating and issued a $36.00 price target on shares of Excelerate Energy in a report on Monday, March 3rd. Three equities research analysts have rated the stock with a sell rating and three have given a buy rating to the stock. Based on data from MarketBeat, Excelerate Energy has a consensus rating of "Hold" and a consensus target price of $31.17.

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.

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