Excelerate Energy, Inc. $EE Shares Sold by Vanguard Group Inc.

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. trimmed its holdings in Excelerate Energy, Inc. (NYSE:EE - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Aquatic Capital Management LLC purchased a new stake in Excelerate Energy in the 4th quarter worth approximately $33,000. New York State Teachers Retirement System raised its position in shares of 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 purchasing an additional 1,467 shares during the last quarter. 10Elms LLP purchased a new position in shares of Excelerate Energy in the fourth quarter valued at approximately $76,000. Mariner LLC acquired a new stake in Excelerate Energy during the 4th quarter worth $200,000. Finally, MQS Management LLC purchased a new stake in Excelerate Energy during the 1st quarter valued at about $224,000. Hedge funds and other institutional investors own 21.79% of the company's stock.

Analysts Set New Price Targets

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

Excelerate Energy Stock Performance

Shares of EE stock traded up $0.48 during trading hours on Tuesday, hitting $24.80. The stock had a trading volume of 417,484 shares, compared to its average volume of 574,961. The stock's 50 day moving average is $26.29 and its 200 day moving average is $27.62. The firm has a market capitalization of $2.83 billion, a PE ratio of 15.39 and a beta of 1.38. Excelerate Energy, Inc. has a twelve month low of $17.70 and a twelve month high of $32.99. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.60 and a quick 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 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $259.82 million. The firm's quarterly revenue was up 11.6% on a year-over-year basis. As a group, research analysts forecast that Excelerate Energy, Inc. will post 1.16 earnings per share for the current fiscal year.

Excelerate Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Wednesday, August 20th will be issued a dividend of $0.08 per share. This is a boost from Excelerate Energy's previous quarterly dividend of $0.06. This represents a $0.32 annualized dividend and a yield of 1.3%. Excelerate Energy's payout ratio is currently 23.53%.

About Excelerate Energy

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.