Mackenzie Financial Corp Reduces Stock Holdings in Excelerate Energy, Inc. (NYSE:EE)

Key Points

• Mackenzie Financial Corp significantly cut its stake in Excelerate Energy, Inc. by 48.8%, holding 37,201 shares worth approximately $1,067,000 after selling 35,445 shares in the first quarter.
• Excelerate Energy reported earnings of $0.49 per share for the last quarter, exceeding analysts' expectations, and revenue increased by 14.8% year-over-year.
• The company increased its quarterly dividend to $0.08 per share from the previous $0.06, reflecting a boost in its annualized dividend yield to 1.3% with a low payout ratio of 16.33%.

Mackenzie Financial Corp decreased its position in Excelerate Energy, Inc. (NYSE:EE - Free Report) by 48.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,201 shares of the company's stock after selling 35,445 shares during the period. Mackenzie Financial Corp's holdings in Excelerate Energy were worth $1,067,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of EE. American Century Companies Inc. boosted its stake in Excelerate Energy by 7.2% during the 4th quarter. American Century Companies Inc. now owns 32,190 shares of the company's stock worth $974,000 after purchasing an additional 2,156 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Excelerate Energy in the fourth quarter worth about $212,000. JPMorgan Chase & Co. boosted its position in Excelerate Energy by 113.2% during the fourth quarter. JPMorgan Chase & Co. now owns 106,707 shares of the company's stock worth $3,228,000 after acquiring an additional 56,661 shares during the last quarter. Norges Bank purchased a new stake in Excelerate Energy during the 4th quarter valued at about $1,128,000. Finally, Pictet Asset Management Holding SA acquired a new stake in Excelerate Energy in the 4th quarter valued at about $174,000. Institutional investors and hedge funds own 21.79% of the company's stock.

Wall Street Analyst Weigh In

EE has been the topic of several recent research reports. Jefferies Financial Group assumed coverage on Excelerate Energy in a report on Thursday, June 5th. They set a "buy" rating and a $39.00 target price on the stock. Wall Street Zen raised Excelerate Energy from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Three equities research analysts have rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat, Excelerate Energy has an average rating of "Hold" and a consensus price target of $32.29.

Excelerate Energy Stock Down 0.6%

Excelerate Energy stock traded down $0.16 during mid-day trading on Friday, reaching $24.26. 316,518 shares of the company's stock were exchanged, compared to its average volume of 401,149. The company has a quick ratio of 3.34, a current ratio of 3.34 and a debt-to-equity ratio of 0.31. Excelerate Energy, Inc. has a twelve month low of $17.70 and a twelve month high of $32.99. The company has a market cap of $2.77 billion, a P/E ratio of 16.51 and a beta of 1.38. The company has a fifty day moving average of $27.82 and a 200-day moving average of $28.20.

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

Excelerate Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Wednesday, August 20th will be paid a $0.08 dividend. This is a boost from Excelerate Energy's previous quarterly dividend of $0.06. This represents a $0.32 dividend on an annualized basis and a yield of 1.3%. Excelerate Energy's dividend payout ratio (DPR) is currently 21.77%.

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.