Tudor Investment Corp ET AL Sells 98,972 Shares of Excelerate Energy, Inc. $EE

Key Points

• Tudor Investment Corp ET AL cut its stake in Excelerate Energy by 38%, selling 98,972 shares and leaving 161,330 shares (about $4.06M), while other institutions (including JPMorgan, Principal and KLP) also reshuffled positions; institutional investors now hold 21.79% of the company.
• Excelerate reported mixed results—Q EPS of $0.29 missed by $0.01 but revenue rose 15.6% to $317.6M and beat estimates—and the board authorized a $75 million stock buyback (up to 2.4% of shares) and declared a $0.08 quarterly dividend (~1.0% yield).
• Wall Street sentiment is broadly positive with a consensus "Moderate Buy" and $39 target; the stock trades near $33.47 (market cap ~$3.82B, P/E 25.36) and was down about 3.1% on the day.

Tudor Investment Corp ET AL decreased its position in shares of Excelerate Energy, Inc. (NYSE:EE - Free Report) by 38.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 161,330 shares of the company's stock after selling 98,972 shares during the quarter. Tudor Investment Corp ET AL owned 0.14% of Excelerate Energy worth $4,064,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in EE. KLP Kapitalforvaltning AS lifted its holdings in shares of Excelerate Energy by 645.2% during the third quarter. KLP Kapitalforvaltning AS now owns 69,300 shares of the company's stock valued at $1,746,000 after purchasing an additional 60,000 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Excelerate Energy by 153.5% during the third quarter. Principal Financial Group Inc. now owns 41,518 shares of the company's stock valued at $1,046,000 after buying an additional 25,139 shares during the last quarter. Knights of Columbus Asset Advisors LLC bought a new stake in Excelerate Energy in the 3rd quarter worth about $1,845,000. Fortress Investment Group LLC bought a new stake in Excelerate Energy in the 2nd quarter worth about $3,130,000. Finally, JPMorgan Chase & Co. raised its position in Excelerate Energy by 37.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 408,152 shares of the company's stock worth $10,281,000 after buying an additional 110,970 shares during the last quarter. Institutional investors own 21.79% of the company's stock.

Insider Activity

In other news, insider Oliver Simpson sold 6,000 shares of the company's stock in a transaction on Friday, March 20th. The stock was sold at an average price of $34.15, for a total value of $204,900.00. Following the completion of the sale, the insider directly owned 51,719 shares in the company, valued at $1,766,203.85. This represents a 10.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.83% of the stock is currently owned by insiders.

Excelerate Energy Trading Down 3.1%

Shares of NYSE:EE opened at $33.47 on Thursday. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of 25.36, a PEG ratio of 1.09 and a beta of 1.34. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.43 and a current ratio of 2.43. The stock's 50-day simple moving average is $37.20 and its two-hundred day simple moving average is $30.48. Excelerate Energy, Inc. has a 52-week low of $21.28 and a 52-week high of $43.17.

Excelerate Energy (NYSE:EE - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). Excelerate Energy had a net margin of 3.19% and a return on equity of 4.12%. The business had revenue of $317.57 million for the quarter, compared to analysts' expectations of $293.49 million. During the same period in the previous year, the company earned $0.40 EPS. Excelerate Energy's revenue for the quarter was up 15.6% compared to the same quarter last year. Analysts expect that Excelerate Energy, Inc. will post 1.16 EPS for the current year.

Excelerate Energy announced that its board has initiated a stock buyback plan on Thursday, December 11th that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the company to buy up to 2.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Excelerate Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.0%. Excelerate Energy's payout ratio is presently 24.24%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on EE shares. Weiss Ratings restated a "hold (c)" rating on shares of Excelerate Energy in a research note on Monday, December 29th. Morgan Stanley boosted their price objective on shares of Excelerate Energy from $30.00 to $40.00 and gave the company an "equal weight" rating in a report on Tuesday, February 24th. Wells Fargo & Company increased their price objective on shares of Excelerate Energy from $29.00 to $39.00 and gave the company an "equal weight" rating in a research report on Friday, February 27th. Raymond James Financial upgraded shares of Excelerate Energy from an "outperform" rating to a "strong-buy" rating and set a $36.00 target price on the stock in a report on Monday, January 5th. Finally, Barclays lifted their target price on shares of Excelerate Energy from $33.00 to $41.00 and gave the stock an "overweight" rating in a research report on Monday, March 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Excelerate Energy has an average rating of "Moderate Buy" and a consensus target price of $39.00.

Excelerate Energy Profile

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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