Excelerate Energy, Inc. (NYSE:EE) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. lowered its stake in shares of Excelerate Energy, Inc. (NYSE:EE) by 90.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,420 shares of the company’s stock after selling 88,872 shares during the quarter. Point72 Asset Management L.P.’s holdings in Excelerate Energy were worth $174,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC acquired a new position in shares of Excelerate Energy during the first quarter valued at $886,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Excelerate Energy in the first quarter valued at approximately $2,202,000. Bailard Inc. bought a new stake in shares of Excelerate Energy during the second quarter valued at approximately $297,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Excelerate Energy during the first quarter worth approximately $118,000. Finally, Quest Partners LLC boosted its position in shares of Excelerate Energy by 59.9% during the second quarter. Quest Partners LLC now owns 11,468 shares of the company’s stock worth $211,000 after buying an additional 4,294 shares during the period. 21.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on EE. Wells Fargo & Company downgraded Excelerate Energy from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $20.00 to $19.00 in a research note on Friday, August 30th. Stephens restated an “overweight” rating and set a $21.00 price objective on shares of Excelerate Energy in a research note on Friday. Finally, Northland Securities increased their target price on shares of Excelerate Energy from $23.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.00.

Excelerate Energy Stock Down 1.0 %

EE opened at $23.13 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.43 and a current ratio of 3.43. The company has a market capitalization of $2.48 billion, a PE ratio of 22.90 and a beta of 1.32. The stock’s fifty day moving average is $19.78 and its 200-day moving average is $18.28. Excelerate Energy, Inc. has a one year low of $13.38 and a one year high of $23.58.

Excelerate Energy (NYSE:EE) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.06). Excelerate Energy had a return on equity of 1.68% and a net margin of 3.40%. The business had revenue of $183.33 million during the quarter, compared to the consensus estimate of $259.14 million. During the same quarter last year, the firm posted $0.23 earnings per share. On average, equities analysts predict that Excelerate Energy, Inc. will post 1.14 EPS for the current fiscal year.

Excelerate Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Wednesday, August 21st. Excelerate Energy’s payout ratio is 9.90%.

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.