Ranger Investment Management L.P. Invests $34.66 Million in Excelerate Energy, Inc. $EE

Key Points

• Ranger Investment Management acquired 912,300 shares of Excelerate Energy worth approximately $34.66 million, making EE its 10th-largest portfolio holding and representing about 0.80% of the company.
• Analysts remain generally positive, with Excelerate Energy receiving a consensus “Moderate Buy” rating and an average price target of $40.73; recent targets range from $42 to $49.
• Excelerate reported quarterly EPS of $0.37, beating estimates by $0.02, while revenue rose 60.9% year over year. The company also raised its quarterly dividend to $0.09 per share, implying a 0.9% annual yield.

Ranger Investment Management L.P. bought a new stake in shares of Excelerate Energy, Inc. (NYSE:EE - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 912,300 shares of the company's stock, valued at approximately $34,658,000. Excelerate Energy accounts for about 2.2% of Ranger Investment Management L.P.'s portfolio, making the stock its 10th largest position. Ranger Investment Management L.P. owned approximately 0.80% of Excelerate Energy as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its position in shares of Excelerate Energy by 91.7% in the first quarter. AQR Capital Management LLC now owns 18,117 shares of the company's stock valued at $520,000 after purchasing an additional 8,665 shares during the period. Millennium Management LLC grew its position in shares of Excelerate Energy by 26.8% in the first quarter. Millennium Management LLC now owns 415,206 shares of the company's stock valued at $11,908,000 after purchasing an additional 87,672 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Excelerate Energy by 27.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 442,764 shares of the company's stock valued at $12,698,000 after buying an additional 95,565 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of Excelerate Energy by 133.9% in the first quarter. Jane Street Group LLC now owns 63,505 shares of the company's stock valued at $1,821,000 after purchasing an additional 36,354 shares during the period. Finally, Legal & General Group Plc lifted its holdings in Excelerate Energy by 3.6% in the second quarter. Legal & General Group Plc now owns 19,317 shares of the company's stock valued at $566,000 after acquiring an additional 670 shares during the last quarter. Institutional investors and hedge funds own 21.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on EE shares. Wall Street Zen raised Excelerate Energy from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. The Goldman Sachs Group initiated coverage on Excelerate Energy in a research report on Wednesday, July 15th. They set a "buy" rating and a $49.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $42.00 target price on shares of Excelerate Energy in a report on Friday, May 8th. Barclays raised their price target on Excelerate Energy from $41.00 to $43.00 and gave the company an "overweight" rating in a research note on Tuesday, August 11th. Finally, 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. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $40.73.

Excelerate Energy Trading Up 0.2%

NYSE EE opened at $39.41 on Monday. Excelerate Energy, Inc. has a 52-week low of $22.86 and a 52-week high of $43.17. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average price of $37.58 and a 200 day moving average price of $36.32. The stock has a market capitalization of $4.47 billion, a P/E ratio of 27.18 and a beta of 1.22.

Excelerate Energy (NYSE:EE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. Excelerate Energy had a net margin of 3.23% and a return on equity of 2.24%. The firm had revenue of $329.27 million during the quarter, compared to analysts' expectations of $344.27 million. During the same quarter last year, the business earned $0.34 earnings per share. The business's revenue for the quarter was up 60.9% compared to the same quarter last year. Equities research analysts expect that Excelerate Energy, Inc. will post 1.57 EPS for the current year.

Excelerate Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Wednesday, August 19th will be issued a $0.09 dividend. This is a positive change from Excelerate Energy's previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, August 19th. This represents a $0.36 annualized dividend and a yield of 0.9%. Excelerate Energy's dividend payout ratio (DPR) is presently 24.83%.

About Excelerate Energy

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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