KLP Kapitalforvaltning AS Boosts Stake in Excelerate Energy, Inc. $EE

KLP Kapitalforvaltning AS raised its holdings in shares of Excelerate Energy, Inc. (NYSE:EE) by 32.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 9,300 shares of the company’s stock after acquiring an additional 2,300 shares during the period. KLP Kapitalforvaltning AS’s holdings in Excelerate Energy were worth $273,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in EE. Nuveen LLC purchased a new position in Excelerate Energy during the first quarter worth about $7,102,000. Russell Investments Group Ltd. boosted its holdings in shares of Excelerate Energy by 45.9% in the 1st quarter. Russell Investments Group Ltd. now owns 435,948 shares of the company’s stock worth $12,503,000 after purchasing an additional 137,120 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Excelerate Energy in the 1st quarter worth about $2,886,000. Goldman Sachs Group Inc. boosted its holdings in shares of Excelerate Energy by 27.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 442,764 shares of the company’s stock worth $12,698,000 after purchasing an additional 95,565 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Excelerate Energy by 26.8% in the 1st quarter. Millennium Management LLC now owns 415,206 shares of the company’s stock worth $11,908,000 after purchasing an additional 87,672 shares in the last quarter. 21.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on EE. Wall Street Zen upgraded Excelerate Energy from a “sell” rating to a “hold” rating in a report on Sunday, August 24th. DNB Markets set a $31.00 target price on Excelerate Energy in a research note on Wednesday, September 10th. Wells Fargo & Company set a $26.00 target price on Excelerate Energy in a research note on Monday, August 11th. JPMorgan Chase & Co. began coverage on Excelerate Energy in a research note on Monday, September 8th. They issued a “neutral” rating and a $30.00 target price for the company. Finally, Citigroup reissued an “outperform” rating on shares of Excelerate Energy in a research note on Wednesday, August 13th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.50.

Excelerate Energy Trading Down 3.1%

EE opened at $27.29 on Monday. The business has a 50 day simple moving average of $24.89 and a two-hundred day simple moving average of $26.55. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of 20.07 and a beta of 1.37. 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, Inc. has a one year low of $21.28 and a one year high of $32.99.

Excelerate Energy (NYSE:EE) last released its quarterly earnings results on Monday, August 11th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates 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%.The business’s revenue was up 11.6% compared to the same quarter last year. Analysts predict that Excelerate Energy, Inc. will post 1.16 EPS for the current year.

Excelerate Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Wednesday, August 20th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, August 20th. This is a positive change from Excelerate Energy’s previous quarterly dividend of $0.06. 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.