Adage Capital Partners GP L.L.C. Sells 25,000 Shares of Excelerate Energy, Inc. (NYSE:EE)

Adage Capital Partners GP L.L.C. decreased its stake in Excelerate Energy, Inc. (NYSE:EE - Free Report) by 50.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,000 shares of the company's stock after selling 25,000 shares during the period. Adage Capital Partners GP L.L.C.'s holdings in Excelerate Energy were worth $756,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Intech Investment Management LLC acquired a new stake in Excelerate Energy during the fourth quarter valued at approximately $220,000. JPMorgan Chase & Co. grew its holdings in shares of Excelerate Energy by 34.4% during the third quarter. JPMorgan Chase & Co. now owns 50,046 shares of the company's stock valued at $1,102,000 after buying an additional 12,802 shares in the last quarter. Ritholtz Wealth Management acquired a new position in shares of Excelerate Energy in the 4th quarter valued at about $580,000. Principal Financial Group Inc. purchased a new stake in Excelerate Energy in the 4th quarter worth approximately $283,000. Finally, Proficio Capital Partners LLC acquired a new stake in Excelerate Energy during the fourth quarter valued at $403,000. Institutional investors own 21.79% of the company's stock.

Excelerate Energy Price Performance

Shares of Excelerate Energy stock traded up $0.14 during trading on Friday, hitting $25.70. 444,969 shares of the company's stock traded hands, compared to its average volume of 275,473. The company has a market cap of $2.72 billion, a PE ratio of 25.96, a PEG ratio of 5.82 and a beta of 1.37. The firm's fifty day moving average price is $27.55 and its 200 day moving average price is $28.50. Excelerate Energy, Inc. has a twelve month low of $16.70 and a twelve month high of $32.99. 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 Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Morgan Stanley restated an "underweight" rating and set a $29.00 price target (up previously from $25.00) on shares of Excelerate Energy in a research note on Friday, January 31st. Barclays raised their price objective on shares of Excelerate Energy from $31.00 to $32.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Stephens restated an "overweight" rating and issued a $36.00 price target on shares of Excelerate Energy in a research report on Monday, March 3rd. Wells Fargo & Company reaffirmed an "underweight" rating on shares of Excelerate Energy in a research report on Friday, March 28th. Finally, JPMorgan Chase & Co. reissued 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. Three investment analysts have rated the stock with a sell rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $31.17.

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.