Virtu Financial LLC Buys Shares of 13,296 Excelerate Energy, Inc. $EE

Key Points

• Virtu Financial LLC has acquired a new stake in Excelerate Energy, buying 13,296 shares valued at approximately $381,000 during the first quarter.
• Excelerate Energy recently announced a quarterly dividend increase to $0.08 per share, raising its annualized dividend yield to 1.3%.
• Despite recent positive earnings news, Excelerate Energy's stock price has declined by 2.5%, and its market cap is currently $2.71 billion.

Virtu Financial LLC bought a new stake in Excelerate Energy, Inc. (NYSE:EE - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 13,296 shares of the company's stock, valued at approximately $381,000.

Several other institutional investors and hedge funds also recently made changes to their positions in EE. Aquatic Capital Management LLC acquired a new position in shares of Excelerate Energy in the fourth quarter valued at approximately $33,000. New York State Teachers Retirement System increased its stake 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 acquiring an additional 1,467 shares during the period. Summit Investment Advisors Inc. increased its stake in Excelerate Energy by 28.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,791 shares of the company's stock worth $54,000 after acquiring an additional 400 shares during the period. 10Elms LLP bought a new position in Excelerate Energy during the 4th quarter worth $76,000. Finally, Mariner LLC bought a new position in Excelerate Energy during the 4th quarter worth $200,000. Institutional investors and hedge funds own 21.79% of the company's stock.

Excelerate Energy Trading Down 0.4%

NYSE:EE traded down $0.09 during trading hours on Tuesday, hitting $23.66. 93,999 shares of the company were exchanged, compared to its average volume of 413,923. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 17.40 and a beta of 1.38. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.58. Excelerate Energy, Inc. has a one year low of $17.70 and a one year high of $32.99. The company has a fifty day simple moving average of $26.97 and a 200 day simple moving average of $27.84.

Excelerate Energy (NYSE:EE - Get Free Report) last announced its earnings results on Monday, August 11th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.02. The business 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 quarterly revenue was up 11.6% on a year-over-year basis. Sell-side analysts expect that Excelerate Energy, Inc. will post 1.16 EPS for the current fiscal year.

Excelerate Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Wednesday, August 20th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.4%. This is an increase from Excelerate Energy's previous quarterly dividend of $0.06. Excelerate Energy's payout ratio is 17.65%.

Analysts Set New Price Targets

EE has been the topic of a number of recent research reports. Wells Fargo & Company set a $26.00 price objective on Excelerate Energy in a research note on Monday, August 11th. Wall Street Zen cut Excelerate Energy from a "buy" rating to a "sell" rating in a research note on Saturday. Citigroup restated an "outperform" rating on shares of Excelerate Energy in a research note on Wednesday, August 13th. Finally, Jefferies Financial Group assumed 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 research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $32.86.

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.