JPMorgan Chase & Co. Increases Holdings in Excelerate Energy, Inc. $EE

Key Points

• JPMorgan increased its stake in Excelerate Energy by 37.3% in Q3, adding 110,970 shares to hold 408,152 shares (about 0.36% of the company) valued at roughly $10.28 million.
• Excelerate reported quarterly revenue of $317.6 million (up 15.6% YoY) but missed EPS by $0.01 at $0.29; the company has a market cap of $3.82 billion, a P/E of 25.4, and a consensus rating of Moderate Buy with an average target of $39.00.
• Management announced a $75 million share buyback (≈2.4% of shares) and pays a quarterly dividend of $0.08 ($0.32 annual, ~1.0% yield), while insiders own about 1.83% of the stock and recently sold shares.

JPMorgan Chase & Co. lifted its holdings in Excelerate Energy, Inc. (NYSE:EE - Free Report) by 37.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 408,152 shares of the company's stock after acquiring an additional 110,970 shares during the period. JPMorgan Chase & Co. owned 0.36% of Excelerate Energy worth $10,281,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue bought a new position in Excelerate Energy in the 3rd quarter worth approximately $30,000. Aster Capital Management DIFC Ltd bought a new position in shares of Excelerate Energy during the third quarter worth $38,000. Tower Research Capital LLC TRC grew its stake in Excelerate Energy by 157.1% during the second quarter. Tower Research Capital LLC TRC now owns 1,941 shares of the company's stock valued at $57,000 after acquiring an additional 1,186 shares in the last quarter. New York State Teachers Retirement System grew its stake in Excelerate Energy by 32.8% during the third quarter. New York State Teachers Retirement System now owns 2,081 shares of the company's stock valued at $52,000 after acquiring an additional 514 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its holdings in Excelerate Energy by 31.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,352 shares of the company's stock valued at $69,000 after acquiring an additional 561 shares during the last quarter. Institutional investors own 21.79% of the company's stock.

Excelerate Energy Stock Performance

NYSE EE opened at $33.51 on Friday. The business's 50 day moving average price is $37.21 and its 200-day moving average price is $30.62. Excelerate Energy, Inc. has a fifty-two week low of $21.28 and a fifty-two week high of $43.17. The company has a market cap of $3.82 billion, a P/E ratio of 25.39, a P/E/G ratio of 1.05 and a beta of 1.34. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.43 and a current ratio of 2.43.

Excelerate Energy (NYSE:EE - Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). Excelerate Energy had a return on equity of 4.12% and a net margin of 3.19%.The firm had revenue of $317.57 million for the quarter, compared to analysts' expectations of $293.49 million. During the same period in the previous year, the firm earned $0.40 earnings per share. The firm's quarterly revenue was up 15.6% compared to the same quarter last year. Sell-side analysts predict that Excelerate Energy, Inc. will post 1.16 earnings per share for the current year.

Excelerate Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.0%. Excelerate Energy's dividend payout ratio is currently 24.24%.

Excelerate Energy declared that its board has approved a share buyback program on Thursday, December 11th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Jefferies Financial Group increased their price objective on shares of Excelerate Energy from $37.00 to $40.00 and gave the company a "buy" rating in a report on Tuesday, January 20th. Weiss Ratings restated a "hold (c)" rating on shares of Excelerate Energy in a report on Monday, December 29th. Dnb Carnegie cut Excelerate Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 19th. Barclays raised their target price on shares of Excelerate Energy from $33.00 to $41.00 and gave the company an "overweight" rating in a report on Monday, March 2nd. Finally, Raymond James Financial raised shares of Excelerate Energy from an "outperform" rating to a "strong-buy" rating and set a $36.00 price target on the stock in a research note on Monday, January 5th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Excelerate Energy has a consensus rating of "Moderate Buy" and an average price target of $39.00.

Insider Buying and Selling at Excelerate Energy

In related news, insider Oliver Simpson sold 6,000 shares of the firm's stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $34.15, for a total transaction of $204,900.00. Following the completion of the sale, the insider directly owned 51,719 shares of the company's stock, valued at approximately $1,766,203.85. This trade represents a 10.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.83% of the company's stock.

Excelerate Energy Profile

Excelerate Energy NYSE: EE is a Houston‐based energy infrastructure company specializing in liquefied natural gas (LNG) solutions. The company develops, owns and operates floating regasification units (FSRUs) that convert shipped LNG into natural gas for delivery into existing pipeline networks. Excelerate Energy's integrated platform also includes specialized LNG carriers, proprietary regasification technology and on‐shore support facilities, enabling rapid deployment of import terminals without extensive capital construction.

Founded in the early 2000s, Excelerate Energy pioneered the first FSRU in 2007, demonstrating the flexibility and cost advantages of floating LNG import infrastructure.

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