Principal Financial Group Inc. Acquires Shares of 9,354 Excelerate Energy, Inc. (NYSE:EE)

Principal Financial Group Inc. acquired a new stake in Excelerate Energy, Inc. (NYSE:EE) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 9,354 shares of the company’s stock, valued at approximately $283,000.

A number of other hedge funds also recently bought and sold shares of EE. US Bancorp DE acquired a new stake in shares of Excelerate Energy during the 3rd quarter worth approximately $130,000. Van ECK Associates Corp increased its holdings in shares of Excelerate Energy by 111.7% during the 3rd quarter. Van ECK Associates Corp now owns 16,197 shares of the company’s stock worth $380,000 after buying an additional 8,547 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Excelerate Energy during the 3rd quarter worth approximately $214,000. Algert Global LLC increased its holdings in shares of Excelerate Energy by 13.7% during the 3rd quarter. Algert Global LLC now owns 118,093 shares of the company’s stock worth $2,599,000 after buying an additional 14,253 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Excelerate Energy during the 3rd quarter worth approximately $94,000. Institutional investors and hedge funds own 21.79% of the company’s stock.

Excelerate Energy Stock Performance

NYSE:EE opened at $28.83 on Friday. The company has a fifty day simple moving average of $30.18 and a two-hundred day simple moving average of $26.62. The company has a market cap of $3.06 billion, a price-to-earnings ratio of 29.12, a price-to-earnings-growth ratio of 5.82 and a beta of 1.39. The company has a quick ratio of 4.12, a current ratio of 4.12 and a debt-to-equity ratio of 0.34. Excelerate Energy, Inc. has a 52 week low of $14.94 and a 52 week high of $32.99.

Excelerate Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 12th will be paid a dividend of $0.06 per share. The ex-dividend date is Wednesday, March 12th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.83%. Excelerate Energy’s payout ratio is currently 19.20%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on EE. Barclays lifted their target price on shares of Excelerate Energy from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Friday, February 28th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $31.00 target price (up previously from $22.00) on shares of Excelerate Energy in a report on Tuesday, January 7th. Stephens reiterated an “overweight” rating and issued a $36.00 target price on shares of Excelerate Energy in a report on Monday, March 3rd. Wells Fargo & Company raised their price target on shares of Excelerate Energy from $19.00 to $22.00 and gave the company an “underweight” rating in a research report on Tuesday, November 12th. Finally, Morgan Stanley restated an “underweight” rating and issued a $29.00 price target (up previously from $25.00) on shares of Excelerate Energy in a research note on Friday, January 31st. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $31.17.

About Excelerate Energy

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.