Excelerate Energy, Inc. $EE Stock Sold by Copeland Capital Management LLC

Key Points

• Copeland Capital Management reduced its Excelerate Energy stake by 2.6% in the third quarter, selling 50,606 shares. It still held 1.92 million shares worth approximately $61.8 million, representing a 1.7% ownership interest.
• Excelerate Energy shares opened at $34.91, with a 52-week range of $24.89 to $43.17. The company exceeded quarterly EPS estimates, reporting $0.37 versus the $0.35 consensus, while revenue rose 60.9% year over year but fell short of estimates.
• The company increased its quarterly dividend to $0.09 per share, or $0.36 annually, yielding about 1.0%. Analysts maintain a “Moderate Buy” consensus with an average price target of $44.56.

Copeland Capital Management LLC cut its position in Excelerate Energy, Inc. (NYSE:EE - Free Report) by 2.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,922,979 shares of the company's stock after selling 50,606 shares during the quarter. Excelerate Energy accounts for about 1.4% of Copeland Capital Management LLC's portfolio, making the stock its 18th largest holding. Copeland Capital Management LLC owned about 1.70% of Excelerate Energy worth $61,785,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in EE. Bank of New York Mellon Corp increased its stake in Excelerate Energy by 0.3% in the first quarter. Bank of New York Mellon Corp now owns 195,532 shares of the company's stock valued at $6,535,000 after acquiring an additional 633 shares during the last quarter. Quantinno Capital Management LP raised its position in Excelerate Energy by 6.7% during the first quarter. Quantinno Capital Management LP now owns 11,025 shares of the company's stock valued at $368,000 after purchasing an additional 690 shares in the last quarter. Swiss National Bank raised its position in Excelerate Energy by 1.9% during the first quarter. Swiss National Bank now owns 47,500 shares of the company's stock valued at $1,587,000 after purchasing an additional 900 shares in the last quarter. Nykredit A S bought a new stake in Excelerate Energy during the second quarter worth $70,000. Finally, The Manufacturers Life Insurance Company lifted its stake in Excelerate Energy by 46.7% during the first quarter. The Manufacturers Life Insurance Company now owns 10,713 shares of the company's stock worth $358,000 after purchasing an additional 3,411 shares during the last quarter. Institutional investors own 21.79% of the company's stock.

Excelerate Energy Stock Down 1.7%

Shares of EE opened at $34.91 on Wednesday. Excelerate Energy, Inc. has a 52 week low of $24.89 and a 52 week high of $43.17. The stock has a market capitalization of $3.96 billion, a price-to-earnings ratio of 24.01 and a beta of 1.25. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.80 and a current ratio of 1.80. The stock has a fifty day moving average of $36.61 and a 200-day moving average of $35.93.

Excelerate Energy (NYSE:EE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.02. The business had revenue of $329.27 million for the quarter, compared to analyst estimates of $344.27 million. Excelerate Energy had a return on equity of 2.24% and a net margin of 3.23%. Excelerate Energy's quarterly revenue was up 60.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS. As a group, sell-side analysts anticipate that Excelerate Energy, Inc. will post 1.57 earnings per share for the current fiscal year.

Excelerate Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Wednesday, August 19th were paid a $0.09 dividend. This is an increase from Excelerate Energy's previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Wednesday, August 19th. Excelerate Energy's payout ratio is currently 24.83%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Morgan Stanley set a $41.00 target price on Excelerate Energy in a report on Friday, August 7th. Northland Securities set a $45.00 price target on Excelerate Energy in a report on Wednesday, August 12th. Stephens restated an "overweight" rating and set a $45.00 price objective on shares of Excelerate Energy in a research report on Thursday, July 9th. Raymond James Financial restated a "strong-buy" rating and set a $50.00 price objective on shares of Excelerate Energy in a research report on Monday, September 21st. Finally, Wells Fargo & Company raised their price objective on Excelerate Energy from $37.00 to $38.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 12th. Three analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $44.56.

Excelerate Energy Company Profile

Excelerate Energy, Inc is a U.S.-based energy infrastructure company focused on delivering liquefied natural gas (LNG) to markets that need flexible access to natural gas. The company's core business is the ownership and operation of floating storage and regasification units (FSRUs), which receive, store, and convert LNG back into natural gas for delivery to onshore or pipeline networks.

In addition to operating FSRUs, Excelerate provides integrated LNG services that can include LNG procurement and supply, transportation, regasification, facility development, and related downstream infrastructure.

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