Wellington Management Group LLP Has $6.46 Million Stock Position in Excelerate Energy, Inc. $EE

Key Points

• Wellington Management Group LLP increased its stake in Excelerate Energy, Inc. by 15.2%, purchasing an additional 29,672 shares, bringing its total ownership to 225,399 shares valued at approximately $6.46 million.
• Excelerate Energy announced a quarterly dividend increase from $0.06 to $0.08 per share, with an annualized yield of 1.3% and a payout ratio of 23.53%.
• Analysts have varied ratings on Excelerate Energy, with five analysts giving a "Buy" rating, one a "Hold," and two a "Sell," resulting in an average price target of $32.86.

Wellington Management Group LLP raised its holdings in shares of Excelerate Energy, Inc. (NYSE:EE - Free Report) by 15.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 225,399 shares of the company's stock after purchasing an additional 29,672 shares during the period. Wellington Management Group LLP owned 0.21% of Excelerate Energy worth $6,464,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in EE. New York State Teachers Retirement System grew 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 buying an additional 1,467 shares during the period. Jackson Creek Investment Advisors LLC acquired a new position in shares of Excelerate Energy during the 1st quarter worth about $1,400,000. GAMMA Investing LLC grew its position in shares of Excelerate Energy by 4,503.2% during the 1st quarter. GAMMA Investing LLC now owns 12,935 shares of the company's stock worth $371,000 after buying an additional 12,654 shares during the period. Deutsche Bank AG grew its position in shares of Excelerate Energy by 254.4% during the 1st quarter. Deutsche Bank AG now owns 69,003 shares of the company's stock worth $1,979,000 after buying an additional 49,531 shares during the period. Finally, Ritholtz Wealth Management grew its position in shares of Excelerate Energy by 55.1% during the 1st quarter. Ritholtz Wealth Management now owns 29,752 shares of the company's stock worth $853,000 after buying an additional 10,574 shares during the period. 21.79% of the stock is currently owned by institutional investors and hedge funds.

Excelerate Energy Stock Down 2.1%

Shares of NYSE EE traded down $0.49 during mid-day trading on Wednesday, reaching $23.33. 541,265 shares of the company's stock were exchanged, compared to its average volume of 497,839. 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 firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of 17.15 and a beta of 1.38. The business has a fifty day simple moving average of $25.59 and a 200 day simple moving average of $27.37. Excelerate Energy, Inc. has a twelve month low of $17.70 and a twelve month high of $32.99.

Excelerate Energy (NYSE:EE - Get Free Report) last released its earnings results on Monday, August 11th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.02. The business had revenue of $204.60 million for 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 company's quarterly revenue was up 11.6% on a year-over-year basis. As a group, equities analysts expect 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 will be paid on Thursday, September 4th. Investors of record on Wednesday, August 20th will be given a $0.08 dividend. This is an increase from Excelerate Energy's previous quarterly dividend of $0.06. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Wednesday, August 20th. Excelerate Energy's dividend payout ratio (DPR) is presently 23.53%.

Analyst Upgrades and Downgrades

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

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.