HITE Hedge Asset Management LLC Purchases Shares of 189,810 Excelerate Energy, Inc. $EE

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

A number of other institutional investors and hedge funds have also modified their holdings of the company. State of Alaska Department of Revenue acquired a new position in Excelerate Energy in the 3rd quarter valued at $30,000. Aster Capital Management DIFC Ltd bought a new position in Excelerate Energy in the 3rd quarter worth $38,000. Tower Research Capital LLC TRC lifted its position 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 acquiring an additional 1,186 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in Excelerate Energy by 32.8% during the third quarter. New York State Teachers Retirement System now owns 2,081 shares of the company’s stock valued at $52,000 after acquiring an additional 514 shares during the period. Finally, Ameritas Investment Partners Inc. boosted its holdings in Excelerate Energy by 31.3% during the second quarter. Ameritas Investment Partners Inc. now owns 2,352 shares of the company’s stock valued at $69,000 after acquiring an additional 561 shares during the period. 21.79% of the stock is currently owned by institutional investors and hedge funds.

Excelerate Energy Price Performance

NYSE:EE opened at $34.04 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.43 and a current ratio of 2.43. The company has a 50-day moving average of $36.45 and a 200-day moving average of $29.81. Excelerate Energy, Inc. has a 52 week low of $21.28 and a 52 week high of $43.17. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 25.79, a PEG ratio of 1.10 and a beta of 1.34.

Excelerate Energy (NYSE:EE) last posted its earnings results 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 net margin of 3.19% and a return on equity of 4.12%. The business had revenue of $317.57 million during the quarter, compared to the consensus estimate of $293.49 million. During the same period in the previous year, the firm earned $0.40 EPS. The business’s revenue was up 15.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Excelerate Energy, Inc. will post 1.16 earnings per share 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 paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Wednesday, March 11th. Excelerate Energy’s dividend payout ratio is currently 24.24%.

Excelerate Energy declared 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 reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Wall Street Zen downgraded Excelerate Energy from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Northland Securities set a $50.00 target price on Excelerate Energy in a research note on Friday, January 30th. Tudor Pickering raised Excelerate Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Excelerate Energy in a research report on Monday, December 29th. Finally, Jefferies Financial Group upped their price target on Excelerate Energy from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Excelerate Energy presently has an average rating of “Moderate Buy” and a consensus price target of $39.00.

Excelerate Energy Company 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.