Vanguard Group Inc. Cuts Stock Position in Excelerate Energy, Inc. $EE

Key Points

• Vanguard Group Inc. sold 37,798 shares of Excelerate Energy, reducing its holdings by 1.8%, leaving it with a total of 2,044,500 shares valued at approximately $58.6 million.
• Analysts have set a new average price target of $32.86 for Excelerate Energy, with ratings ranging from "Buy" to "Sell" on the stock.
• Excelerate Energy recently increased its quarterly dividend to $0.08 per share, marking a rise from the previous $0.06, reflecting a yield of 1.3%.

Vanguard Group Inc. cut its holdings in shares of Excelerate Energy, Inc. (NYSE:EE - Free Report) by 1.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,044,500 shares of the company's stock after selling 37,798 shares during the quarter. Vanguard Group Inc. owned 1.93% of Excelerate Energy worth $58,636,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in EE. Aquatic Capital Management LLC acquired a new stake in Excelerate Energy during the 4th quarter worth approximately $33,000. New York State Teachers Retirement System lifted its holdings in Excelerate Energy by 1,467.0% during the 1st quarter. New York State Teachers Retirement System now owns 1,567 shares of the company's stock worth $45,000 after buying an additional 1,467 shares in the last quarter. 10Elms LLP acquired a new stake in Excelerate Energy during the 4th quarter worth approximately $76,000. Mariner LLC acquired a new stake in Excelerate Energy during the 4th quarter worth approximately $200,000. Finally, MQS Management LLC acquired a new stake in Excelerate Energy during the 1st quarter worth approximately $224,000. 21.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on EE shares. Wells Fargo & Company set a $26.00 target price on shares of Excelerate Energy in a report on Monday, August 11th. Wall Street Zen upgraded shares of Excelerate Energy from a "sell" rating to a "hold" rating in a report on Sunday, August 24th. Citigroup reiterated an "outperform" rating on shares of Excelerate Energy in a report on Wednesday, August 13th. Finally, Jefferies Financial Group started coverage on shares of Excelerate Energy in a report on Thursday, June 5th. They set a "buy" rating and a $39.00 price target for the company. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $32.86.

Excelerate Energy Stock Performance

NYSE EE traded down $0.42 during trading hours on Friday, hitting $24.39. The company had a trading volume of 277,071 shares, compared to its average volume of 535,053. The company has a market cap of $2.78 billion, a PE ratio of 17.93 and a beta of 1.38. Excelerate Energy, Inc. has a 1-year low of $17.70 and a 1-year high of $32.99. The business has a 50 day moving average of $25.89 and a 200-day moving average of $27.49. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.60 and a current ratio of 2.60.

Excelerate Energy (NYSE:EE - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02. The business had revenue of $204.60 million during the quarter, compared to the consensus estimate of $259.82 million. Excelerate Energy had a return on equity of 4.16% and a net margin of 3.64%.The firm's revenue was up 11.6% compared to the same quarter last year. 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 company also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, August 20th. This is an increase from Excelerate Energy's previous quarterly dividend of $0.06. This represents a $0.32 annualized dividend and a dividend yield of 1.3%. Excelerate Energy's dividend payout ratio is currently 23.53%.

Excelerate Energy Company 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.