Van ECK Associates Corp Increases Stock Position in Excelerate Energy, Inc. (NYSE:EE)

Van ECK Associates Corp raised its holdings in shares of Excelerate Energy, Inc. (NYSE:EE) by 111.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,197 shares of the company’s stock after purchasing an additional 8,547 shares during the period. Van ECK Associates Corp’s holdings in Excelerate Energy were worth $380,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of EE. nVerses Capital LLC purchased a new stake in shares of Excelerate Energy during the second quarter valued at $26,000. Public Employees Retirement System of Ohio bought a new position in Excelerate Energy during the 1st quarter valued at about $38,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Excelerate Energy during the 1st quarter valued at about $118,000. US Bancorp DE bought a new stake in shares of Excelerate Energy in the third quarter worth approximately $130,000. Finally, SG Americas Securities LLC purchased a new position in shares of Excelerate Energy during the third quarter valued at approximately $161,000. Institutional investors own 21.79% of the company’s stock.

Excelerate Energy Price Performance

NYSE EE opened at $27.96 on Wednesday. The business’s fifty day moving average is $22.17 and its 200 day moving average is $19.75. Excelerate Energy, Inc. has a fifty-two week low of $13.38 and a fifty-two week high of $28.60. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.43 and a current ratio of 4.12. The company has a market capitalization of $2.99 billion, a PE ratio of 28.19 and a beta of 1.28.

Excelerate Energy (NYSE:EE) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The firm had revenue of $193.42 million for the quarter, compared to analysts’ expectations of $194.09 million. Excelerate Energy had a return on equity of 1.39% and a net margin of 3.14%. During the same period in the previous year, the firm earned $0.40 EPS. Sell-side analysts predict that Excelerate Energy, Inc. will post 1.18 earnings per share for the current year.

Excelerate Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Wednesday, November 20th will be given a $0.06 dividend. This is a positive change from Excelerate Energy’s previous quarterly dividend of $0.03. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Wednesday, November 20th. Excelerate Energy’s dividend payout ratio is presently 10.10%.

Analyst Ratings Changes

EE has been the topic of several research reports. Wells Fargo & Company raised their target price on shares of Excelerate Energy from $19.00 to $22.00 and gave the stock an “underweight” rating in a report on Tuesday. Stephens raised their price target on Excelerate Energy from $21.00 to $28.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Barclays upped their price objective on Excelerate Energy from $22.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Finally, Northland Securities raised their target price on Excelerate Energy from $25.00 to $29.00 and gave the stock an “outperform” rating in a research report on Monday. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.57.

Excelerate Energy 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.