100,623 Shares in Excelerate Energy, Inc. $EE Purchased by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC has purchased 100,623 shares of Excelerate Energy, Inc., valued at approximately $2.89 million, representing about 0.10% ownership in the company.
• Excelerate Energy recently reported a quarterly earnings per share (EPS) of $0.34, exceeding analysts' expectations of $0.32, alongside an annual revenue increase of 11.6% compared to the previous year.
• The company has announced a quarterly dividend increase to $0.08 per share from a previous $0.06, reflecting a positive change and resulting in a 1.4% yield for shareholders.

Cubist Systematic Strategies LLC acquired a new stake in shares of Excelerate Energy, Inc. (NYSE:EE - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 100,623 shares of the company's stock, valued at approximately $2,886,000. Cubist Systematic Strategies LLC owned approximately 0.10% of Excelerate Energy at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. New York State Teachers Retirement System raised its holdings in Excelerate Energy by 1,467.0% during the 1st quarter. New York State Teachers Retirement System now owns 1,567 shares of the company's stock worth $45,000 after buying an additional 1,467 shares during the period. Quarry LP increased its position in shares of Excelerate Energy by 89.6% during the first quarter. Quarry LP now owns 1,997 shares of the company's stock worth $57,000 after acquiring an additional 944 shares in the last quarter. 10Elms LLP bought a new stake in shares of Excelerate Energy during the fourth quarter worth $76,000. MQS Management LLC acquired a new stake in shares of Excelerate Energy during the first quarter worth $224,000. Finally, OMERS ADMINISTRATION Corp bought a new stake in Excelerate Energy in the 1st quarter valued at $250,000. 21.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wells Fargo & Company set a $26.00 price target on Excelerate Energy in a research note on Monday, August 11th. Jefferies Financial Group assumed coverage on Excelerate Energy in a research report on Thursday, June 5th. They issued a "buy" rating and a $39.00 target price on the stock. Wall Street Zen raised Excelerate Energy from a "sell" rating to a "hold" rating in a research report on Sunday, August 24th. JPMorgan Chase & Co. assumed coverage on shares of Excelerate Energy in a report on Monday. They issued a "neutral" rating and a $30.00 price objective on the stock. Finally, DNB Markets set a $31.00 price objective on shares of Excelerate Energy in a research report on Wednesday. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Excelerate Energy currently has a consensus rating of "Moderate Buy" and an average price target of $32.50.

Excelerate Energy Stock Up 0.7%

EE stock traded up $0.17 during mid-day trading on Thursday, reaching $23.89. The company had a trading volume of 222,920 shares, compared to its average volume of 400,155. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 17.57 and a beta of 1.38. Excelerate Energy, Inc. has a 52 week low of $18.12 and a 52 week high of $32.99. The stock has a 50 day simple moving average of $24.92 and a two-hundred day simple moving average of $27.14. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.60 and a quick ratio of 2.60.

Excelerate Energy (NYSE:EE - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $204.60 million for the quarter, compared to analysts' expectations of $259.82 million. The business's quarterly revenue was up 11.6% on a year-over-year basis. As a group, equities analysts predict that Excelerate Energy, Inc. will post 1.16 earnings per share for the current fiscal year.

Excelerate Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Wednesday, August 20th were paid a $0.08 dividend. This is an increase from Excelerate Energy's previous quarterly dividend of $0.06. This represents a $0.32 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Wednesday, August 20th. Excelerate Energy's dividend payout ratio is 23.53%.

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.