Russell Investments Group Ltd. Raises Stock Holdings in Excelerate Energy, Inc. $EE

Key Points

• Russell Investments Group Ltd. increased its stake in Excelerate Energy by 45.9%, acquiring an additional 137,120 shares to hold a total of 435,948 shares valued at approximately $12.5 million.
• Excelerate Energy announced a dividend increase from $0.06 to $0.08 per share, with the next payment scheduled for September 4th, representing an annualized yield of 1.3%.
• Recent earnings showed Excelerate Energy reporting $0.34 earnings per share, beating expectations, but with revenue falling short of analyst estimates at $204.6 million.

Russell Investments Group Ltd. lifted its holdings in Excelerate Energy, Inc. (NYSE:EE - Free Report) by 45.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 435,948 shares of the company's stock after acquiring an additional 137,120 shares during the period. Russell Investments Group Ltd. owned 0.41% of Excelerate Energy worth $12,503,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Summit Investment Advisors Inc. boosted its stake in Excelerate Energy by 28.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,791 shares of the company's stock valued at $54,000 after buying an additional 400 shares during the last quarter. Rhumbline Advisers boosted its stake in Excelerate Energy by 1.5% during the first quarter. Rhumbline Advisers now owns 31,903 shares of the company's stock valued at $915,000 after buying an additional 471 shares during the last quarter. Aquatic Capital Management LLC bought a new position in Excelerate Energy during the fourth quarter valued at approximately $33,000. New York State Teachers Retirement System boosted its stake in Excelerate Energy by 1,467.0% during the first quarter. New York State Teachers Retirement System now owns 1,567 shares of the company's stock valued at $45,000 after buying an additional 1,467 shares during the last quarter. Finally, Two Sigma Investments LP boosted its stake in Excelerate Energy by 0.9% during the fourth quarter. Two Sigma Investments LP now owns 221,162 shares of the company's stock valued at $6,690,000 after buying an additional 2,035 shares during the last quarter. Institutional investors own 21.79% of the company's stock.

Excelerate Energy Trading Up 0.0%

Shares of NYSE EE traded up $0.01 during midday trading on Friday, hitting $24.40. The company's stock had a trading volume of 199,786 shares, compared to its average volume of 414,527. 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 business's 50 day moving average is $26.54 and its two-hundred day moving average is $27.74. Excelerate Energy, Inc. has a 12-month low of $17.70 and a 12-month high of $32.99. The firm has a market cap of $2.78 billion, a P/E ratio of 17.94 and a beta of 1.38.

Excelerate Energy (NYSE:EE - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.02. Excelerate Energy had a return on equity of 4.16% and a net margin of 3.64%.The firm had revenue of $204.60 million for the quarter, compared to the consensus estimate of $259.82 million. Excelerate Energy's revenue was up 11.6% on a year-over-year basis. As a group, equities research 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. Stockholders of record on Wednesday, August 20th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.3%. This is an increase from Excelerate Energy's previous quarterly dividend of $0.06. Excelerate Energy's dividend payout ratio is presently 23.53%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on EE shares. Wall Street Zen lowered Excelerate Energy from a "buy" rating to a "sell" rating in a research note on Saturday, August 16th. Citigroup restated an "outperform" rating on shares of Excelerate Energy in a research report on Wednesday, August 13th. Jefferies Financial Group started coverage on Excelerate Energy in a research report on Thursday, June 5th. They set a "buy" rating and a $39.00 price objective on the stock. Finally, Wells Fargo & Company set a $26.00 price objective on Excelerate Energy in a research report on Monday, August 11th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $32.86.

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.