Excelerate Energy, Inc. $EE Stock Position Lessened by Trexquant Investment LP

Key Points

• Trexquant Investment LP significantly reduced its stake in Excelerate Energy by 49.4%, holding 48,634 shares valued at approximately $1.4 million after selling 47,495 shares in the first quarter.
• Excelerate Energy has increased its quarterly dividend from $0.06 to $0.08, yielding about 1.4% annually, with a dividend payout ratio of 23.53%.
• The company reported earnings per share of $0.34 for the quarter, surpassing the consensus estimate by $0.02 despite revenue of $204.60 million falling short of analyst expectations.

Trexquant Investment LP decreased its holdings in shares of Excelerate Energy, Inc. (NYSE:EE - Free Report) by 49.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,634 shares of the company's stock after selling 47,495 shares during the quarter. Trexquant Investment LP's holdings in Excelerate Energy were worth $1,395,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. New York State Teachers Retirement System grew its holdings in shares of Excelerate Energy by 1,467.0% in the first quarter. New York State Teachers Retirement System now owns 1,567 shares of the company's stock worth $45,000 after purchasing an additional 1,467 shares during the last quarter. 10Elms LLP purchased a new position in shares of Excelerate Energy in the 4th quarter valued at approximately $76,000. MQS Management LLC purchased a new position in shares of Excelerate Energy in the 1st quarter valued at approximately $224,000. OMERS ADMINISTRATION Corp purchased a new position in Excelerate Energy during the 1st quarter worth approximately $250,000. Finally, Jefferies Financial Group Inc. purchased a new position in Excelerate Energy during the 4th quarter worth approximately $275,000. 21.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Citigroup reaffirmed an "outperform" rating on shares of Excelerate Energy in a research note on Wednesday, August 13th. Jefferies Financial Group started coverage on shares of Excelerate Energy in a research note on Thursday, June 5th. They set a "buy" rating and a $39.00 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. JPMorgan Chase & Co. started coverage on Excelerate Energy in a report on Monday. They set a "neutral" rating and a $30.00 price target on the stock. Finally, DNB Markets set a $31.00 price objective on shares of Excelerate Energy in a report on Wednesday. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Excelerate Energy currently has an average rating of "Moderate Buy" and an average price target of $32.50.

Excelerate Energy Price Performance

NYSE:EE traded up $0.17 during trading hours on Thursday, hitting $23.89. The company's stock had a trading volume of 222,920 shares, compared to its average volume of 400,155. The business's 50-day moving average is $24.92 and its two-hundred day moving average is $27.14. The company has a market capitalization of $2.72 billion, a PE ratio of 17.57 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. Excelerate Energy, Inc. has a 52-week low of $18.12 and a 52-week high of $32.99.

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

Excelerate Energy Increases Dividend

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