HITE Hedge Asset Management LLC Purchases New Shares in Excelerate Energy, Inc. $EE

HITE Hedge Asset Management LLC purchased a new position in Excelerate Energy, Inc. (NYSE:EE) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 189,810 shares of the company’s stock, valued at approximately $4,781,000. HITE Hedge Asset Management LLC owned approximately 0.17% of Excelerate Energy at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. AQR Capital Management LLC lifted its stake in Excelerate Energy by 91.7% during the first quarter. AQR Capital Management LLC now owns 18,117 shares of the company’s stock valued at $520,000 after buying an additional 8,665 shares in the last quarter. Millennium Management LLC increased its position in shares of Excelerate Energy by 26.8% in the first quarter. Millennium Management LLC now owns 415,206 shares of the company’s stock worth $11,908,000 after acquiring an additional 87,672 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Excelerate Energy by 27.5% in the first quarter. Goldman Sachs Group Inc. now owns 442,764 shares of the company’s stock worth $12,698,000 after acquiring an additional 95,565 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of Excelerate Energy by 133.9% during the first quarter. Jane Street Group LLC now owns 63,505 shares of the company’s stock valued at $1,821,000 after acquiring an additional 36,354 shares during the period. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of Excelerate Energy during the second quarter valued at approximately $374,000. Institutional investors and hedge funds own 21.79% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Excelerate Energy in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Excelerate Energy from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Jefferies Financial Group increased their target price on Excelerate Energy from $37.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Dnb Carnegie cut Excelerate Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 19th. Finally, Raymond James Financial upgraded Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 price target on the stock in a report on Monday, January 5th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $39.00.

Excelerate Energy Stock Down 2.7%

EE stock opened at $34.04 on Friday. The firm has a market cap of $3.88 billion, a PE ratio of 25.79, a PEG ratio of 1.10 and a beta of 1.34. Excelerate Energy, Inc. has a 1 year low of $21.28 and a 1 year high of $43.17. The company has a fifty day simple moving average of $36.45 and a 200 day simple moving average of $29.81. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 0.54.

Excelerate Energy (NYSE:EE) last posted its earnings results on Wednesday, February 25th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). Excelerate Energy had a return on equity of 4.12% and a net margin of 3.19%.The business had revenue of $317.57 million for the quarter, compared to analyst estimates of $293.49 million. During the same period in the previous year, the company earned $0.40 earnings per share. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. Sell-side analysts anticipate that Excelerate Energy, Inc. will post 1.16 EPS for the current fiscal year.

Excelerate Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.9%. Excelerate Energy’s dividend payout ratio is currently 24.24%.

Excelerate Energy announced that its board has authorized a stock buyback program on Thursday, December 11th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

About Excelerate Energy

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.