Kayne Anderson Capital Advisors LP Has $19.69 Million Position in Excelerate Energy, Inc. $EE

Kayne Anderson Capital Advisors LP grew its stake in Excelerate Energy, Inc. (NYSE:EE) by 77.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 781,623 shares of the company’s stock after purchasing an additional 340,747 shares during the quarter. Excelerate Energy makes up approximately 0.4% of Kayne Anderson Capital Advisors LP’s investment portfolio, making the stock its 23rd largest holding. Kayne Anderson Capital Advisors LP owned approximately 0.69% of Excelerate Energy worth $19,689,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Emerald Advisers LLC acquired a new position in Excelerate Energy in the 2nd quarter valued at about $11,740,000. Qube Research & Technologies Ltd lifted its position in Excelerate Energy by 328.4% during the second quarter. Qube Research & Technologies Ltd now owns 453,345 shares of the company’s stock worth $13,292,000 after acquiring an additional 347,521 shares during the last quarter. TimesSquare Capital Management LLC boosted its holdings in shares of Excelerate Energy by 49.8% during the second quarter. TimesSquare Capital Management LLC now owns 716,352 shares of the company’s stock worth $21,003,000 after acquiring an additional 238,259 shares during the period. Marshall Wace LLP grew its position in shares of Excelerate Energy by 430.3% in the second quarter. Marshall Wace LLP now owns 292,150 shares of the company’s stock valued at $8,566,000 after purchasing an additional 237,056 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust bought a new position in shares of Excelerate Energy during the second quarter worth approximately $6,427,000. Institutional investors and hedge funds own 21.79% of the company’s stock.

Excelerate Energy Stock Performance

Shares of NYSE:EE opened at $42.54 on Wednesday. Excelerate Energy, Inc. has a 1 year low of $21.28 and a 1 year high of $43.07. The stock has a market capitalization of $4.85 billion, a price-to-earnings ratio of 29.54, a price-to-earnings-growth ratio of 1.35 and a beta of 1.36. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.39 and a quick ratio of 2.39. The company’s 50 day simple moving average is $33.92 and its 200 day simple moving average is $28.70.

Excelerate Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.8%. Excelerate Energy’s payout ratio is 22.22%.

Excelerate Energy declared that its Board of Directors has approved a stock buyback program on Thursday, December 11th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Dnb Carnegie cut Excelerate Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 19th. Raymond James Financial upgraded Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 price objective on the stock in a research report on Monday, January 5th. Wall Street Zen raised Excelerate Energy from a “hold” rating to a “buy” rating in a report on Sunday, January 11th. Jefferies Financial Group upped their price target on shares of Excelerate Energy from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Finally, Morgan Stanley raised their price target on shares of Excelerate Energy from $30.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Excelerate Energy currently has an average rating of “Moderate Buy” and a consensus target price of $36.50.

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.