JPMorgan Chase & Co. Buys 110,970 Shares of Excelerate Energy, Inc. $EE

JPMorgan Chase & Co. grew its stake in Excelerate Energy, Inc. (NYSE:EE) by 37.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 408,152 shares of the company’s stock after acquiring an additional 110,970 shares during the period. JPMorgan Chase & Co.’s holdings in Excelerate Energy were worth $10,281,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP boosted its holdings in shares of Excelerate Energy by 17.6% in the third quarter. Wellington Management Group LLP now owns 2,888,034 shares of the company’s stock valued at $72,750,000 after purchasing an additional 433,010 shares during the period. Qube Research & Technologies Ltd lifted its holdings in shares of Excelerate Energy by 328.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 453,345 shares of the company’s stock worth $13,292,000 after buying an additional 347,521 shares during the period. Kayne Anderson Capital Advisors LP lifted its holdings in shares of Excelerate Energy by 77.3% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 781,623 shares of the company’s stock worth $19,689,000 after buying an additional 340,747 shares during the period. Squarepoint Ops LLC grew its position in shares of Excelerate Energy by 219.5% during the 3rd quarter. Squarepoint Ops LLC now owns 348,394 shares of the company’s stock worth $8,776,000 after buying an additional 239,358 shares in the last quarter. Finally, Marshall Wace LLP increased its stake 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 period. Institutional investors own 21.79% of the company’s stock.

Insider Buying and Selling at Excelerate Energy

In other news, insider Oliver Simpson sold 6,000 shares of the business’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $34.15, for a total transaction of $204,900.00. Following the sale, the insider owned 51,719 shares in the company, valued at approximately $1,766,203.85. The trade was a 10.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.83% of the company’s stock.

Excelerate Energy Stock Performance

Shares of EE stock opened at $33.51 on Friday. Excelerate Energy, Inc. has a 12-month low of $21.28 and a 12-month high of $43.17. The business’s fifty day simple moving average is $37.21 and its 200-day simple moving average is $30.62. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 0.54. The company has a market cap of $3.82 billion, a PE ratio of 25.39, a PEG ratio of 1.05 and a beta of 1.34.

Excelerate Energy (NYSE:EE) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $293.49 million. During the same period in the previous year, the business earned $0.40 EPS. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. Analysts expect that Excelerate Energy, Inc. will post 1.16 earnings per share for the current fiscal year.

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

Excelerate Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Wednesday, March 11th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Wednesday, March 11th. Excelerate Energy’s dividend payout ratio (DPR) is currently 24.24%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $44.00 target price on shares of Excelerate Energy in a report on Friday, February 6th. Morgan Stanley lifted their price objective on shares of Excelerate Energy from $30.00 to $40.00 and gave the company an “equal weight” rating in a report on Tuesday, February 24th. Barclays boosted their price objective on shares of Excelerate Energy from $33.00 to $41.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd. Wall Street Zen downgraded Excelerate Energy from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Northland Securities set a $50.00 price objective on Excelerate Energy in a research note on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Excelerate Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

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.