Harvest Fund Management Co. Ltd Cuts Stake in Excelerate Energy, Inc. (NYSE:EE)

Harvest Fund Management Co. Ltd lessened its holdings in shares of Excelerate Energy, Inc. (NYSE:EE - Free Report) by 37.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,541 shares of the company's stock after selling 20,146 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Excelerate Energy were worth $962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Pacer Advisors Inc. lifted its stake in Excelerate Energy by 32.3% in the 1st quarter. Pacer Advisors Inc. now owns 62,570 shares of the company's stock worth $1,795,000 after purchasing an additional 15,288 shares in the last quarter. Navellier & Associates Inc. bought a new position in Excelerate Energy in the 1st quarter worth about $435,000. Jackson Creek Investment Advisors LLC bought a new position in shares of Excelerate Energy during the first quarter valued at approximately $1,400,000. Bailard Inc. boosted its stake in shares of Excelerate Energy by 13.6% during the first quarter. Bailard Inc. now owns 25,100 shares of the company's stock valued at $720,000 after purchasing an additional 3,000 shares in the last quarter. Finally, TimesSquare Capital Management LLC lifted its position in Excelerate Energy by 4.4% during the first quarter. TimesSquare Capital Management LLC now owns 478,093 shares of the company's stock valued at $13,712,000 after acquiring an additional 20,095 shares during the last quarter. Hedge funds and other institutional investors own 21.79% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Excelerate Energy in a research note on Thursday, June 5th. They set a "buy" rating and a $39.00 price objective for the company. Wall Street Zen cut shares of Excelerate Energy from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Excelerate Energy has a consensus rating of "Hold" and a consensus price target of $32.29.

Excelerate Energy Price Performance

EE traded down $0.11 on Friday, reaching $25.55. 661,462 shares of the company's stock were exchanged, compared to its average volume of 401,890. The stock has a market cap of $2.91 billion, a PE ratio of 17.38 and a beta of 1.40. Excelerate Energy, Inc. has a twelve month low of $17.54 and a twelve month high of $32.99. The stock's fifty day moving average price is $28.23 and its 200-day moving average price is $28.45. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.34 and a quick ratio of 3.34.

Excelerate Energy (NYSE:EE - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.10. The company had revenue of $315.09 million for the quarter, compared to analyst estimates of $207.87 million. Excelerate Energy had a net margin of 3.93% and a return on equity of 2.20%. The firm's revenue was up 14.8% compared to the same quarter last year. Sell-side analysts expect that Excelerate Energy, Inc. will post 1.16 EPS for the current year.

Excelerate Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Wednesday, August 20th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.3%. This is an increase from Excelerate Energy's previous quarterly dividend of $0.06. Excelerate Energy's payout ratio is 16.33%.

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.