Excelerate Energy, Inc. (NYSE:EE) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in shares of Excelerate Energy, Inc. (NYSE:EE) by 20.6% in the fourth quarter, HoldingsChannel reports. The firm owned 109,255 shares of the company’s stock after selling 28,392 shares during the period. Bank of New York Mellon Corp’s holdings in Excelerate Energy were worth $3,305,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP boosted its stake in Excelerate Energy by 28.9% during the 3rd quarter. Quarry LP now owns 1,822 shares of the company’s stock valued at $40,000 after purchasing an additional 409 shares during the period. Quantbot Technologies LP acquired a new position in Excelerate Energy during the 3rd quarter valued at about $94,000. SG Americas Securities LLC boosted its stake in Excelerate Energy by 11.6% during the 4th quarter. SG Americas Securities LLC now owns 8,141 shares of the company’s stock valued at $246,000 after purchasing an additional 845 shares during the period. Janus Henderson Group PLC acquired a new position in Excelerate Energy during the 3rd quarter valued at about $200,000. Finally, Principal Financial Group Inc. acquired a new position in Excelerate Energy during the 4th quarter valued at about $283,000. 21.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on EE. Barclays upped their price target on shares of Excelerate Energy from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Morgan Stanley reissued an “underweight” rating and set a $29.00 target price (up from $25.00) on shares of Excelerate Energy in a research note on Friday, January 31st. Northland Securities increased their target price on shares of Excelerate Energy from $29.00 to $37.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Stephens reissued an “overweight” rating and set a $36.00 target price on shares of Excelerate Energy in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and set a $31.00 target price (up from $22.00) on shares of Excelerate Energy in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a sell rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $31.17.

Excelerate Energy Stock Up 1.8 %

EE stock opened at $28.87 on Thursday. Excelerate Energy, Inc. has a 52-week low of $14.94 and a 52-week high of $32.99. The company’s 50 day simple moving average is $29.84 and its 200-day simple moving average is $27.17. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.12 and a quick ratio of 4.12. The firm has a market capitalization of $3.06 billion, a P/E ratio of 29.16, a P/E/G ratio of 5.82 and a beta of 1.39.

Excelerate Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.83%. Excelerate Energy’s dividend payout ratio is currently 19.20%.

Excelerate Energy Company Profile

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.