Deutsche Bank AG Boosts Stock Position in Excelerate Energy, Inc. $EE

Key Points

• Deutsche Bank AG significantly increased its stake in Excelerate Energy, raising ownership by 254.4% to a total of approximately 69,003 shares valued at $1,979,000.
• Excelerate Energy recently announced a quarterly dividend increase to $0.08, compared to the previous $0.06, representing an annual yield of 1.3%.
• The company's latest earnings report revealed an EPS of $0.34, beating analysts' expectations, though quarterly revenue fell short at $204.60 million against a forecast of $259.82 million.

Deutsche Bank AG raised its position in Excelerate Energy, Inc. (NYSE:EE - Free Report) by 254.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,003 shares of the company's stock after buying an additional 49,531 shares during the quarter. Deutsche Bank AG owned about 0.07% of Excelerate Energy worth $1,979,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Aquatic Capital Management LLC purchased a new position in shares of Excelerate Energy in the fourth quarter valued at $33,000. New York State Teachers Retirement System raised its stake in shares of 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 valued at $45,000 after purchasing an additional 1,467 shares during the period. Summit Investment Advisors Inc. raised its stake in shares of Excelerate Energy by 28.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,791 shares of the company's stock valued at $54,000 after purchasing an additional 400 shares during the period. 10Elms LLP bought a new stake in shares of Excelerate Energy during the 4th quarter valued at $76,000. Finally, Mariner LLC bought a new stake in shares of Excelerate Energy during the 4th quarter valued at $200,000. 21.79% of the stock is currently owned by institutional investors.

Excelerate Energy Price Performance

Excelerate Energy stock traded down $0.40 during midday trading on Wednesday, hitting $24.42. 377,366 shares of the company's stock were exchanged, compared to its average volume of 562,678. Excelerate Energy, Inc. has a 52-week low of $17.70 and a 52-week high of $32.99. The stock has a 50-day moving average price of $26.09 and a two-hundred day moving average price of $27.57. 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 company has a market cap of $2.78 billion, a P/E ratio of 17.96 and a beta of 1.38.

Excelerate Energy (NYSE:EE - Get Free Report) last posted its earnings results on Monday, August 11th. The company reported $0.34 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $259.82 million. The firm's revenue was up 11.6% on a year-over-year basis. On average, equities research analysts forecast that Excelerate Energy, Inc. will post 1.16 earnings per share for the current year.

Excelerate Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Wednesday, August 20th will be issued a $0.08 dividend. This is a boost 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%.

Analysts Set New Price Targets

EE has been the topic of a number of analyst reports. Citigroup reiterated an "outperform" rating on shares of Excelerate Energy in a research note on Wednesday, August 13th. Wall Street Zen upgraded Excelerate Energy from a "sell" rating to a "hold" rating in a research note on Sunday. Jefferies Financial Group assumed coverage on Excelerate Energy in a research note on Thursday, June 5th. They set a "buy" rating and a $39.00 price objective on the stock. Finally, Wells Fargo & Company set a $26.00 target price on Excelerate Energy in a research report on Monday, August 11th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $32.86.

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.