Geode Capital Management LLC Sells 2,844 Shares of Excelerate Energy, Inc. (NYSE:EE)

Geode Capital Management LLC decreased its position in Excelerate Energy, Inc. (NYSE:EE) by 0.7% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 398,612 shares of the company’s stock after selling 2,844 shares during the period. Geode Capital Management LLC’s holdings in Excelerate Energy were worth $8,776,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Barclays PLC lifted its position in Excelerate Energy by 299.8% during the 3rd quarter. Barclays PLC now owns 26,822 shares of the company’s stock worth $591,000 after buying an additional 20,113 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Excelerate Energy by 580.7% in the third quarter. Public Employees Retirement System of Ohio now owns 15,084 shares of the company’s stock valued at $332,000 after acquiring an additional 12,868 shares during the last quarter. Quarry LP raised its holdings in Excelerate Energy by 28.9% during the third quarter. Quarry LP now owns 1,822 shares of the company’s stock worth $40,000 after acquiring an additional 409 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Excelerate Energy by 40.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 180,204 shares of the company’s stock valued at $3,966,000 after purchasing an additional 52,007 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new position in Excelerate Energy in the third quarter valued at approximately $200,000. Institutional investors and hedge funds own 21.79% of the company’s stock.

Excelerate Energy Stock Performance

NYSE EE opened at $31.44 on Friday. The stock has a market cap of $3.34 billion, a PE ratio of 31.76, a P/E/G ratio of 2.28 and a beta of 1.43. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.12 and a current ratio of 4.12. The firm has a 50-day moving average of $28.63 and a 200-day moving average of $22.94. Excelerate Energy, Inc. has a 52-week low of $13.38 and a 52-week high of $32.25.

Excelerate Energy (NYSE:EE) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.03. Excelerate Energy had a net margin of 3.14% and a return on equity of 1.39%. The firm had revenue of $193.42 million during the quarter, compared to the consensus estimate of $194.09 million. During the same period last year, the business posted $0.40 earnings per share. On average, sell-side analysts anticipate that Excelerate Energy, Inc. will post 1.23 EPS for the current year.

Excelerate Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Wednesday, November 20th were paid a $0.06 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This is an increase from Excelerate Energy’s previous quarterly dividend of $0.03. This represents a $0.24 annualized dividend and a yield of 0.76%. Excelerate Energy’s payout ratio is 24.24%.

Analyst Upgrades and Downgrades

EE has been the topic of a number of analyst reports. Stephens upped their price objective on Excelerate Energy from $28.00 to $36.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Wells Fargo & Company upped their price target on shares of Excelerate Energy from $19.00 to $22.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Barclays lifted their price objective on shares of Excelerate Energy from $22.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Northland Securities boosted their price objective on shares of Excelerate Energy from $29.00 to $37.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. Finally, Morgan Stanley raised their target price on shares of Excelerate Energy from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, Excelerate Energy has an average rating of “Hold” and a consensus price target of $28.33.

About Excelerate Energy

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.