Squarepoint Ops LLC Sells 43,048 Shares of Excelerate Energy, Inc. $EE

Key Points

• Squarepoint Ops LLC cut its Excelerate Energy stake by 54.6% in the second quarter, selling 43,048 shares and retaining 35,726 shares worth approximately $1.36 million. Institutional investors own 21.79% of the company.
• Excelerate Energy reported quarterly EPS of $0.37, beating estimates by $0.02, while revenue rose 60.9% year over year to $329.27 million but fell short of analyst expectations.
• The company increased its quarterly dividend to $0.09 per share, equivalent to an annualized $0.36 dividend and a 1.0% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $43.00.

Squarepoint Ops LLC trimmed its position in Excelerate Energy, Inc. (NYSE:EE - Free Report) by 54.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,726 shares of the company's stock after selling 43,048 shares during the quarter. Squarepoint Ops LLC's holdings in Excelerate Energy were worth $1,357,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nykredit A S bought a new stake in Excelerate Energy in the 2nd quarter worth $70,000. AXQ Capital LP bought a new position in shares of Excelerate Energy during the second quarter valued at about $240,000. Wellington Management Group LLP raised its position in Excelerate Energy by 26.8% during the 2nd quarter. Wellington Management Group LLP now owns 3,339,759 shares of the company's stock valued at $126,877,000 after purchasing an additional 705,587 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Excelerate Energy in the 2nd quarter worth approximately $1,266,000. Finally, Ranger Investment Management L.P. bought a new stake in shares of Excelerate Energy in the 2nd quarter worth approximately $34,658,000. 21.79% of the stock is currently owned by institutional investors.

Excelerate Energy Stock Up 4.8%

Shares of NYSE:EE opened at $37.68 on Thursday. Excelerate Energy, Inc. has a 52-week low of $23.69 and a 52-week high of $43.17. The firm has a market capitalization of $4.27 billion, a P/E ratio of 25.99 and a beta of 1.22. The stock has a 50 day moving average price of $38.39 and a 200-day moving average price of $36.17. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.80 and a current ratio of 1.80.

Excelerate Energy (NYSE:EE - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. The company had revenue of $329.27 million for the quarter, compared to analyst estimates of $344.27 million. Excelerate Energy had a return on equity of 2.24% and a net margin of 3.23%.The firm's revenue was up 60.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 earnings per share. As a group, equities research analysts anticipate that Excelerate Energy, Inc. will post 1.57 EPS for the current fiscal year.

Excelerate Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Wednesday, August 19th were issued a dividend of $0.09 per share. This is a boost from Excelerate Energy's previous quarterly dividend of $0.08. The ex-dividend date was Wednesday, August 19th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.0%. Excelerate Energy's dividend payout ratio (DPR) is presently 24.83%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Northland Securities set a $45.00 target price on Excelerate Energy in a report on Wednesday, August 12th. The Goldman Sachs Group initiated coverage on shares of Excelerate Energy in a report on Wednesday, July 15th. They issued a "buy" rating and a $49.00 price target on the stock. Weiss Ratings raised shares of Excelerate Energy from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, September 3rd. Citigroup reissued an "outperform" rating on shares of Excelerate Energy in a research report on Wednesday, August 12th. Finally, Wells Fargo & Company raised their target price on shares of Excelerate Energy from $37.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 12th. Three equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Excelerate Energy currently has a consensus rating of "Moderate Buy" and an average target price of $43.00.

Excelerate Energy Company Profile

Excelerate Energy, Inc is an integrated liquefied natural gas (LNG) company that provides flexible LNG delivery and regasification solutions. The company specializes in floating storage and regasification units (FSRUs), which receive, store and convert LNG into natural gas for delivery into pipeline networks.

Its services include LNG procurement and transportation, FSRU operations, regasification, terminal management and related infrastructure development. Excelerate also develops and operates offshore and nearshore LNG import facilities designed to help customers access natural gas without relying solely on large, land-based terminals.

Founded in 2003, Excelerate has supported LNG import and energy-infrastructure projects in markets including Bangladesh, Brazil, Argentina, Finland and other regions.

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