PDT Partners LLC Lowers Holdings in Excelerate Energy, Inc. $EE

Key Points

• PDT Partners LLC reduced its stake in Excelerate Energy by 41.6%, now holding 29,142 shares valued at approximately $836,000.
• The company recently reported earnings of $0.34 EPS, exceeding expectations, and announced a dividend increase to $0.08 per share.
• Analysts have mixed views on the stock, with a consensus price target of $32.86 and ratings ranging from "buy" to "sell."

PDT Partners LLC lessened its stake in Excelerate Energy, Inc. (NYSE:EE - Free Report) by 41.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,142 shares of the company's stock after selling 20,784 shares during the period. PDT Partners LLC's holdings in Excelerate Energy were worth $836,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. TimesSquare Capital Management LLC raised its position in shares of Excelerate Energy by 4.4% in the 1st quarter. TimesSquare Capital Management LLC now owns 478,093 shares of the company's stock worth $13,712,000 after acquiring an additional 20,095 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Excelerate Energy by 45.9% in the 1st quarter. Russell Investments Group Ltd. now owns 435,948 shares of the company's stock worth $12,503,000 after buying an additional 137,120 shares during the last quarter. D. E. Shaw & Co. Inc. grew its stake in shares of Excelerate Energy by 16.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 435,293 shares of the company's stock worth $13,168,000 after buying an additional 60,691 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Excelerate Energy by 94.3% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 350,128 shares of the company's stock worth $10,591,000 after buying an additional 169,924 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of Excelerate Energy by 12.0% in the 4th quarter. Millennium Management LLC now owns 327,534 shares of the company's stock worth $9,908,000 after buying an additional 35,199 shares during the last quarter. Institutional investors own 21.79% of the company's stock.

Wall Street Analysts Forecast Growth

EE has been the topic of several recent research reports. Jefferies Financial Group initiated coverage on Excelerate Energy in a research note on Thursday, June 5th. They issued a "buy" rating and a $39.00 price target on the stock. Citigroup reissued an "outperform" rating on shares of Excelerate Energy in a report on Wednesday, August 13th. Wall Street Zen raised Excelerate Energy from a "sell" rating to a "hold" rating in a report on Sunday, August 24th. Wells Fargo & Company set a $26.00 price objective on Excelerate Energy in a research report on Monday, August 11th. Finally, JPMorgan Chase & Co. initiated coverage on Excelerate Energy in a research report on Monday. They set a "neutral" rating and a $30.00 price objective for the company. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Excelerate Energy has a consensus rating of "Moderate Buy" and an average target price of $32.71.

Excelerate Energy Trading Up 0.8%

Shares of Excelerate Energy stock traded up $0.18 on Tuesday, hitting $23.19. 52,340 shares of the company traded hands, compared to its average volume of 412,856. The company has a market cap of $2.64 billion, a PE ratio of 17.05 and a beta of 1.38. Excelerate Energy, Inc. has a 52 week low of $17.70 and a 52 week high of $32.99. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.58. The stock's 50 day moving average price is $25.23 and its 200-day moving average price is $27.23.

Excelerate Energy (NYSE:EE - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The company reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.02. The company had revenue of $204.60 million during the quarter, compared to the consensus estimate of $259.82 million. Excelerate Energy had a net margin of 3.64% and a return on equity of 4.16%. The business's revenue for the quarter was up 11.6% compared to the same quarter last year. Equities research analysts predict 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 was paid on Thursday, September 4th. Stockholders of record on Wednesday, August 20th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, August 20th. 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 dividend yield of 1.4%. Excelerate Energy's payout ratio is currently 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.