Strs Ohio Takes Position in Excelerate Energy, Inc. $EE

Key Points

• Strs Ohio made a new investment in Excelerate Energy, purchasing 18,900 shares valued at approximately $542,000 in the first quarter.
• Excelerate Energy recently announced a dividend increase to $0.08 per share, resulting in a yield of 1.3% and demonstrating a payout ratio of 23.53%.
• Analysts have a consensus rating of "Moderate Buy" for Excelerate Energy, with a target price averaging $32.50, highlighting positive market sentiment towards the stock.

Strs Ohio acquired a new position in Excelerate Energy, Inc. (NYSE:EE - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 18,900 shares of the company's stock, valued at approximately $542,000.

A number of other large investors also recently bought and sold shares of the business. Rhumbline Advisers increased its position in shares of Excelerate Energy by 1.5% in the 1st quarter. Rhumbline Advisers now owns 31,903 shares of the company's stock valued at $915,000 after acquiring an additional 471 shares during the period. Quarry LP increased its position in shares of Excelerate Energy by 89.6% in the 1st quarter. Quarry LP now owns 1,997 shares of the company's stock valued at $57,000 after acquiring an additional 944 shares during the period. New York State Teachers Retirement System increased its position in shares of Excelerate Energy by 1,467.0% in the 1st quarter. New York State Teachers Retirement System now owns 1,567 shares of the company's stock valued at $45,000 after acquiring an additional 1,467 shares during the period. Two Sigma Investments LP increased its position in shares of Excelerate Energy by 0.9% in the 4th quarter. Two Sigma Investments LP now owns 221,162 shares of the company's stock valued at $6,690,000 after acquiring an additional 2,035 shares during the period. Finally, Algert Global LLC increased its position in shares of Excelerate Energy by 2.6% in the 1st quarter. Algert Global LLC now owns 96,700 shares of the company's stock valued at $2,773,000 after acquiring an additional 2,480 shares during the period. Institutional investors own 21.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Citigroup reissued an "outperform" rating on shares of Excelerate Energy in a research report on Wednesday, August 13th. DNB Markets set a $31.00 target price on Excelerate Energy in a research report on Wednesday, September 10th. Wells Fargo & Company set a $26.00 target price on Excelerate Energy in a research report on Monday, August 11th. Wall Street Zen raised Excelerate Energy from a "sell" rating to a "hold" rating in a research report on Sunday, August 24th. Finally, 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 target on the stock. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $32.50.

Excelerate Energy Price Performance

NYSE:EE traded down $0.01 during trading hours on Monday, hitting $24.02. 346,634 shares of the stock were exchanged, compared to its average volume of 313,239. Excelerate Energy, Inc. has a 52-week low of $20.77 and a 52-week high of $32.99. The firm's fifty day moving average price is $24.45 and its 200 day moving average price is $26.89. 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 company has a market cap of $2.74 billion, a P/E ratio of 15.21 and a beta of 1.38.

Excelerate Energy (NYSE:EE - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.32 by $0.02. The company had revenue of $204.60 million during the quarter, compared to analyst estimates of $259.82 million. Excelerate Energy had a return on equity of 4.16% and a net margin of 3.64%.Excelerate Energy's revenue for the quarter was up 11.6% on a year-over-year basis. As a group, equities research analysts anticipate that Excelerate Energy, Inc. will post 1.16 EPS for the current fiscal year.

Excelerate Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Wednesday, August 20th were issued a dividend of $0.08 per share. The ex-dividend date was Wednesday, August 20th. 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 payout ratio is presently 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.