TimesSquare Capital Management LLC Buys 207,771 Shares of Excelerate Energy, Inc. $EE

TimesSquare Capital Management LLC increased its stake in Excelerate Energy, Inc. (NYSE:EE) by 29.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 924,123 shares of the company’s stock after buying an additional 207,771 shares during the quarter. TimesSquare Capital Management LLC owned about 0.81% of Excelerate Energy worth $23,279,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Kayne Anderson Capital Advisors LP purchased a new position in shares of Excelerate Energy during the second quarter worth approximately $12,926,000. Emerald Advisers LLC bought a new position in Excelerate Energy in the second quarter worth about $11,740,000. Qube Research & Technologies Ltd raised its holdings in Excelerate Energy by 328.4% in the second quarter. Qube Research & Technologies Ltd now owns 453,345 shares of the company’s stock worth $13,292,000 after purchasing an additional 347,521 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Excelerate Energy by 430.3% during the second quarter. Marshall Wace LLP now owns 292,150 shares of the company’s stock valued at $8,566,000 after buying an additional 237,056 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in shares of Excelerate Energy in the 2nd quarter worth approximately $6,427,000. Hedge funds and other institutional investors own 21.79% of the company’s stock.

Excelerate Energy Trading Up 3.6%

Shares of EE opened at $41.83 on Monday. Excelerate Energy, Inc. has a 52-week low of $21.28 and a 52-week high of $41.93. The stock has a market cap of $4.77 billion, a PE ratio of 29.05, a price-to-earnings-growth ratio of 1.33 and a beta of 1.36. The firm’s fifty day moving average is $31.85 and its two-hundred day moving average is $27.86. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 0.56.

Excelerate Energy declared that its board has approved a stock buyback program on Thursday, December 11th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the company to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have weighed in on EE. Wall Street Zen raised shares of Excelerate Energy from a “hold” rating to a “buy” rating in a research report on Sunday, January 11th. Raymond James Financial raised Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 price target for the company in a research report on Monday, January 5th. Northland Securities set a $50.00 price objective on Excelerate Energy in a report on Friday, January 30th. Morgan Stanley set a $30.00 target price on Excelerate Energy and gave the stock an “equal weight” rating in a report on Thursday, November 6th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $44.00 price target on shares of Excelerate Energy in a report on Friday, February 6th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Excelerate Energy currently has a consensus rating of “Moderate Buy” and an average price target of $35.50.

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.