Nuveen LLC Acquires New Position in Excelerate Energy, Inc. $EE

Key Points

• Nuveen LLC acquired 247,621 shares of Excelerate Energy, Inc. for approximately $7.1 million, representing about 0.23% ownership of the company.
• Excelerate Energy recently reported earnings with a net margin of 3.64% and **an increase in revenue by 11.6%** year over year, surpassing earnings estimates.
• The company announced a quarterly dividend increase from $0.06 to $0.08 per share, translating to a 1.3% dividend yield based on an annualized payout of $0.32.

Nuveen LLC bought a new stake in Excelerate Energy, Inc. (NYSE:EE - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 247,621 shares of the company's stock, valued at approximately $7,102,000. Nuveen LLC owned about 0.23% of Excelerate Energy at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EE. Barclays PLC boosted its holdings in Excelerate Energy by 11.0% in the fourth quarter. Barclays PLC now owns 29,779 shares of the company's stock valued at $901,000 after acquiring an additional 2,957 shares during the last quarter. Mariner LLC acquired a new position in shares of Excelerate Energy during the fourth quarter worth about $200,000. Dimensional Fund Advisors LP lifted its stake in shares of Excelerate Energy by 10.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 261,110 shares of the company's stock worth $7,898,000 after purchasing an additional 25,649 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Excelerate Energy during the fourth quarter worth about $2,872,000. Finally, Aquatic Capital Management LLC acquired a new position in shares of Excelerate Energy during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 21.79% of the company's stock.

Excelerate Energy Stock Down 1.7%

Shares of NYSE EE traded down $0.42 during midday trading on Friday, reaching $24.39. 277,071 shares of the company's stock were exchanged, compared to its average volume of 535,053. Excelerate Energy, Inc. has a 52-week low of $17.70 and a 52-week high of $32.99. The stock has a market capitalization of $2.78 billion, a PE ratio of 17.93 and a beta of 1.38. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.60 and a current ratio of 2.60. The business's fifty day moving average price is $25.89 and its two-hundred day moving average price is $27.48.

Excelerate Energy (NYSE:EE - Get Free Report) last announced its earnings results on Monday, August 11th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.02. Excelerate Energy had a return on equity of 4.16% and a net margin of 3.64%.The business had revenue of $204.60 million for the quarter, compared to analyst estimates of $259.82 million. The firm's revenue was up 11.6% on a year-over-year basis. Analysts forecast that Excelerate Energy, Inc. will post 1.16 EPS for the current year.

Excelerate Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Wednesday, August 20th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, August 20th. This is a positive change from Excelerate Energy's previous quarterly dividend of $0.06. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.3%. Excelerate Energy's dividend payout ratio is presently 23.53%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on EE. Citigroup restated an "outperform" rating on shares of Excelerate Energy in a research note on Wednesday, August 13th. Wells Fargo & Company set a $26.00 price objective on shares of Excelerate Energy in a research report on Monday, August 11th. Wall Street Zen raised shares of Excelerate Energy from a "sell" rating to a "hold" rating in a research report on Sunday, August 24th. Finally, Jefferies Financial Group initiated coverage on shares of Excelerate Energy in a research report on Thursday, June 5th. They issued a "buy" rating and a $39.00 price objective for the company. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $32.86.

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.