Voya Investment Management LLC Reduces Stock Position in Excelerate Energy, Inc. $EE

Key Points

• Voya Investment Management LLC reduced its stake in Excelerate Energy by 31.9%, now owning approximately 0.14% of the company valued at $4.6 million.
• Excelerate Energy increased its quarterly dividend to $0.08 per share, up from $0.06, indicating a 1.3% dividend yield.
• The stock has a market capitalization of $2.78 billion and has seen a price-to-earnings ratio of 17.93 with recent trading around $24.38.

Voya Investment Management LLC lowered its stake in Excelerate Energy, Inc. (NYSE:EE - Free Report) by 31.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 161,980 shares of the company's stock after selling 75,984 shares during the quarter. Voya Investment Management LLC owned about 0.14% of Excelerate Energy worth $4,646,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in EE. TimesSquare Capital Management LLC raised its stake in Excelerate Energy by 4.4% during the 1st quarter. TimesSquare Capital Management LLC now owns 478,093 shares of the company's stock valued at $13,712,000 after purchasing an additional 20,095 shares during the period. Goldman Sachs Group Inc. raised its stake in Excelerate Energy by 27.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 442,764 shares of the company's stock valued at $12,698,000 after purchasing an additional 95,565 shares during the period. Russell Investments Group Ltd. raised its stake in Excelerate Energy by 45.9% during the 1st quarter. Russell Investments Group Ltd. now owns 435,948 shares of the company's stock valued at $12,503,000 after purchasing an additional 137,120 shares during the period. Millennium Management LLC raised its stake in Excelerate Energy by 26.8% during the 1st quarter. Millennium Management LLC now owns 415,206 shares of the company's stock valued at $11,908,000 after purchasing an additional 87,672 shares during the period. Finally, Nuveen LLC bought a new stake in Excelerate Energy during the 1st quarter valued at approximately $7,102,000. Institutional investors own 21.79% of the company's stock.

Excelerate Energy Stock Down 1.3%

NYSE:EE traded down $0.33 during mid-day trading on Friday, reaching $24.03. The company's stock had a trading volume of 398,061 shares, compared to its average volume of 332,375. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $2.74 billion, a PE ratio of 17.67 and a beta of 1.38. The stock has a fifty day moving average of $24.45 and a 200-day moving average of $26.92. Excelerate Energy, Inc. has a 1 year low of $20.28 and a 1 year high of $32.99.

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

Excelerate Energy Increases Dividend

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

Analysts Set New Price Targets

Several analysts recently issued reports on the company. JPMorgan Chase & Co. assumed coverage on Excelerate Energy in a research note on Monday, September 8th. They set a "neutral" rating and a $30.00 target price on the stock. Wall Street Zen upgraded Excelerate Energy from a "sell" rating to a "hold" rating in a report on Sunday, August 24th. Jefferies Financial Group assumed coverage on Excelerate Energy in a report on Thursday, June 5th. They set a "buy" rating and a $39.00 price target for the company. DNB Markets set a $31.00 price target on Excelerate Energy in a report on Wednesday, September 10th. Finally, Wells Fargo & Company set a $26.00 price target on Excelerate Energy in a report on Monday, August 11th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $32.50.

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.