Wellington Management Group LLP Acquires 29,672 Shares of 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 increased its stake in Excelerate Energy, Inc. (NYSE:EE - Free Report) by 15.2% during the first quarter, according to its most recent 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 quarter. Wellington Management Group LLP owned approximately 0.21% of Excelerate Energy worth $6,464,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. New York State Teachers Retirement System grew its stake in Excelerate Energy by 1,467.0% in the 1st quarter. New York State Teachers Retirement System now owns 1,567 shares of the company's stock valued at $45,000 after buying an additional 1,467 shares in the last quarter. Jackson Creek Investment Advisors LLC purchased a new position in Excelerate Energy in the 1st quarter valued at approximately $1,400,000. GAMMA Investing LLC grew its stake in Excelerate Energy by 4,503.2% in the 1st quarter. GAMMA Investing LLC now owns 12,935 shares of the company's stock valued at $371,000 after buying an additional 12,654 shares in the last quarter. Deutsche Bank AG grew its stake in Excelerate Energy by 254.4% in the 1st quarter. Deutsche Bank AG now owns 69,003 shares of the company's stock valued at $1,979,000 after buying an additional 49,531 shares in the last quarter. Finally, Ritholtz Wealth Management grew its stake in Excelerate Energy by 55.1% in the 1st quarter. Ritholtz Wealth Management now owns 29,752 shares of the company's stock valued at $853,000 after buying an additional 10,574 shares in the last quarter. 21.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Excelerate Energy Price Performance

NYSE:EE traded down $0.42 during midday trading on Friday, hitting $24.39. The company had a trading volume of 277,071 shares, compared to its average volume of 515,833. Excelerate Energy, Inc. has a 52-week low of $17.70 and a 52-week high of $32.99. The stock's fifty day moving average price is $25.89 and its 200-day moving average price is $27.48. The company has a market capitalization of $2.78 billion, a PE ratio of 15.46 and a beta of 1.38. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.58.

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. Excelerate Energy had a net margin of 3.64% and a return on equity of 4.16%. The company had revenue of $204.60 million during the quarter, compared to analyst estimates of $259.82 million. The firm's revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, research analysts expect that Excelerate Energy, Inc. will post 1.16 earnings per share for the current 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 represents a $0.32 annualized dividend and a yield of 1.3%. This is a boost from Excelerate Energy's previous quarterly dividend of $0.06. The ex-dividend date is Wednesday, August 20th. Excelerate Energy's dividend payout ratio (DPR) is presently 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.