Wellington Management Group LLP Grows Stock Position in Excelerate Energy, Inc. $EE

Wellington Management Group LLP boosted its stake in shares of Excelerate Energy, Inc. (NYSE:EE) by 26.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,339,759 shares of the company’s stock after purchasing an additional 705,587 shares during the quarter. Wellington Management Group LLP owned approximately 2.95% of Excelerate Energy worth $126,877,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Arax Advisory Partners raised its holdings in Excelerate Energy by 791.9% in 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 acquired a new position in Excelerate Energy during the 4th quarter worth approximately $33,000. Essex Investment Management Co. LLC purchased a new stake in shares of Excelerate Energy in the 4th quarter valued at approximately $41,000. CIBC Private Wealth Group LLC acquired a new stake in shares of Excelerate Energy in the 4th quarter valued at $56,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Excelerate Energy by 157.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,941 shares of the company’s stock worth $57,000 after purchasing an additional 1,186 shares during the last quarter. Hedge funds and other institutional investors own 21.79% of the company’s stock.

Excelerate Energy Stock Performance

Shares of EE stock opened at $39.13 on Wednesday. The stock’s 50-day moving average is $38.19 and its two-hundred day moving average is $36.40. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of 26.99 and a beta of 1.22. Excelerate Energy, Inc. has a 1 year low of $22.86 and a 1 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.

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

Excelerate Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Wednesday, August 19th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, August 19th. This is a positive change from Excelerate Energy’s previous quarterly dividend of $0.08. Excelerate Energy’s dividend payout ratio is presently 24.83%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Barclays increased their target price on Excelerate Energy from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Jefferies Financial Group reaffirmed a “buy” rating and set a $48.00 price objective on shares of Excelerate Energy in a research report on Friday, July 10th. Stephens reiterated an “overweight” rating and issued a $45.00 price objective on shares of Excelerate Energy in a report on Thursday, July 9th. Wells Fargo & Company raised their target price on Excelerate Energy from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 12th. Finally, Northland Securities set a $45.00 target price on Excelerate Energy in a research note on Wednesday, August 12th. Three research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $40.73.

Excelerate Energy 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.