Renaissance Technologies LLC Increases Stock Holdings in Excelerate Energy, Inc. $EE

Renaissance Technologies LLC increased its stake in Excelerate Energy, Inc. (NYSE:EE) by 132.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 285,519 shares of the company’s stock after acquiring an additional 162,919 shares during the quarter. Renaissance Technologies LLC owned approximately 0.25% of Excelerate Energy worth $9,542,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Arax Advisory Partners increased its stake in shares of Excelerate Energy by 791.9% during the fourth quarter. Arax Advisory Partners now owns 883 shares of the company’s stock worth $25,000 after purchasing an additional 784 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in Excelerate Energy in the 4th quarter worth about $33,000. Essex Investment Management Co. LLC purchased a new stake in Excelerate Energy during the 4th quarter worth approximately $41,000. Tower Research Capital LLC TRC increased its stake in Excelerate Energy by 157.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,941 shares of the company’s stock worth $57,000 after buying an additional 1,186 shares in the last quarter. Finally, CIBC Private Wealth Group LLC purchased a new stake in Excelerate Energy during the 4th quarter worth approximately $56,000. 21.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group began coverage on Excelerate Energy in a research report on Wednesday, July 15th. They issued a “buy” rating and a $49.00 target price on the stock. Wall Street Zen raised Excelerate Energy from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Jefferies Financial Group restated a “buy” rating and issued a $48.00 price objective on shares of Excelerate Energy in a report on Friday, July 10th. Morgan Stanley lowered their target price on shares of Excelerate Energy from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 21st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Excelerate Energy in a report on Wednesday, June 24th. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.64.

Excelerate Energy Stock Performance

NYSE EE opened at $39.22 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.60 and a current ratio of 2.60. The stock’s fifty day moving average is $36.40 and its two-hundred day moving average is $36.03. The firm has a market capitalization of $4.47 billion, a P/E ratio of 31.89, a price-to-earnings-growth ratio of 1.43 and a beta of 1.22. Excelerate Energy, Inc. has a fifty-two week low of $21.28 and a fifty-two week high of $43.17.

Excelerate Energy (NYSE:EE) last issued its earnings results on Wednesday, May 6th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The company had revenue of $433.44 million during the quarter, compared to analyst estimates of $351.68 million. Excelerate Energy had a return on equity of 3.85% and a net margin of 2.98%.The firm’s revenue was up 37.6% compared to the same quarter last year. During the same period last year, the business earned $0.49 earnings per share. On average, research analysts anticipate that Excelerate Energy, Inc. will post 1.52 earnings per share for the current year.

Excelerate Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Wednesday, August 19th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.9%. This is a boost from Excelerate Energy’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, August 19th. Excelerate Energy’s payout ratio is presently 26.02%.

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.