Public Employees Retirement System of Ohio Buys New Position in Excelerate Energy, Inc. $EE

Public Employees Retirement System of Ohio purchased a new stake in Excelerate Energy, Inc. (NYSE:EE) in the second quarter, HoldingsChannel.com reports. The firm purchased 33,333 shares of the company’s stock, valued at approximately $1,266,000.

A number of other large investors have also modified their holdings of the business. Arax Advisory Partners increased its holdings in shares of Excelerate Energy by 791.9% during the fourth quarter. Arax Advisory Partners now owns 883 shares of the company’s stock valued at $25,000 after acquiring an additional 784 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in Excelerate Energy during the 4th quarter worth approximately $33,000. Essex Investment Management Co. LLC acquired a new position in Excelerate Energy during the 4th quarter valued at approximately $41,000. Tower Research Capital LLC TRC raised its holdings in shares of Excelerate Energy by 157.1% in the second quarter. Tower Research Capital LLC TRC now owns 1,941 shares of the company’s stock worth $57,000 after buying an additional 1,186 shares during the last quarter. Finally, CIBC Private Wealth Group LLC acquired a new stake in shares of Excelerate Energy during the fourth quarter worth $56,000. Hedge funds and other institutional investors own 21.79% of the company’s stock.

Excelerate Energy Stock Down 1.7%

EE stock opened at $39.34 on Wednesday. Excelerate Energy, Inc. has a one year low of $22.95 and a one year high of $43.17. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.80 and a current ratio of 1.80. The firm’s fifty day moving average is $38.45 and its 200 day moving average is $36.34. The firm has a market cap of $4.46 billion, a PE ratio of 27.13 and a beta of 1.22.

Excelerate Energy (NYSE:EE) last posted its earnings results on Wednesday, August 5th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The firm had revenue of $329.27 million for the quarter, compared to analysts’ expectations of $344.27 million. Excelerate Energy had a return on equity of 2.24% and a net margin of 3.23%.The company’s quarterly revenue was up 60.9% on a year-over-year basis. During the same period last year, the firm earned $0.34 EPS. On average, research analysts forecast that Excelerate Energy, Inc. will post 1.57 EPS for the current year.

Excelerate Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Wednesday, August 19th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, August 19th. This is a boost from Excelerate Energy’s previous quarterly dividend of $0.08. Excelerate Energy’s payout ratio is presently 24.83%.

Analysts Set New Price Targets

EE has been the topic of several research reports. Weiss Ratings raised Excelerate Energy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, September 3rd. Zacks Research upgraded Excelerate Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Barclays lifted their target price on Excelerate Energy from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Citigroup reiterated an “outperform” rating on shares of Excelerate Energy in a report on Wednesday, August 12th. Finally, Morgan Stanley set a $41.00 price objective on shares of Excelerate Energy in a research note on Friday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.80.

Excelerate Energy Company Profile

Excelerate Energy (NYSE: EE) is a Houston?based energy infrastructure company specializing in liquefied natural gas (LNG) solutions. The company develops, owns and operates floating regasification units (FSRUs) that convert shipped LNG into natural gas for delivery into existing pipeline networks. Excelerate Energy’s integrated platform also includes specialized LNG carriers, proprietary regasification technology and on?shore support facilities, enabling rapid deployment of import terminals without extensive capital construction.

Founded in the early 2000s, Excelerate Energy pioneered the first FSRU in 2007, demonstrating the flexibility and cost advantages of floating LNG import infrastructure.