Excelerate Energy, Inc. $EE Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management cut its holdings in Excelerate Energy, Inc. (NYSE:EE) by 47.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,656 shares of the company’s stock after selling 17,150 shares during the period. Ritholtz Wealth Management’s holdings in Excelerate Energy were worth $470,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. TimesSquare Capital Management LLC boosted its holdings in Excelerate Energy by 49.8% in the second quarter. TimesSquare Capital Management LLC now owns 716,352 shares of the company’s stock valued at $21,003,000 after purchasing an additional 238,259 shares in the last quarter. Geode Capital Management LLC lifted its position in Excelerate Energy by 41.6% in the second quarter. Geode Capital Management LLC now owns 608,070 shares of the company’s stock valued at $17,830,000 after acquiring an additional 178,507 shares during the last quarter. Qube Research & Technologies Ltd grew its holdings in shares of 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 purchasing an additional 347,521 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Excelerate Energy by 3.2% during the second quarter. Russell Investments Group Ltd. now owns 450,065 shares of the company’s stock worth $13,196,000 after purchasing an additional 14,117 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Excelerate Energy by 27.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 442,764 shares of the company’s stock valued at $12,698,000 after purchasing an additional 95,565 shares during the period. Hedge funds and other institutional investors own 21.79% of the company’s stock.

Excelerate Energy Stock Down 0.1%

EE stock opened at $33.19 on Wednesday. The stock has a market capitalization of $3.79 billion, a PE ratio of 23.05, a price-to-earnings-growth ratio of 1.33 and a beta of 1.36. The company has a fifty day moving average of $28.36 and a 200-day moving average of $26.44. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.39 and a current ratio of 2.39. Excelerate Energy, Inc. has a one year low of $21.28 and a one year high of $33.77.

Excelerate Energy (NYSE:EE) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.13. Excelerate Energy had a net margin of 3.46% and a return on equity of 4.34%. The firm had revenue of $391.04 million during the quarter, compared to analysts’ expectations of $270.82 million. The firm’s quarterly revenue was up 102.2% compared to the same quarter last year. As a group, analysts expect that Excelerate Energy, Inc. will post 1.16 EPS for the current year.

Excelerate Energy announced that its Board of Directors has approved a stock buyback plan on Thursday, December 11th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Excelerate Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Wednesday, November 19th were given a $0.08 dividend. The ex-dividend date was Wednesday, November 19th. This represents a $0.32 annualized dividend and a yield of 1.0%. Excelerate Energy’s dividend payout ratio is presently 22.22%.

Wall Street Analyst Weigh In

EE has been the subject of a number of research reports. Jefferies Financial Group boosted their price objective on Excelerate Energy from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday. Wall Street Zen upgraded shares of Excelerate Energy from a “hold” rating to a “buy” rating in a research note on Sunday, January 11th. Raymond James Financial raised shares of 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Excelerate Energy in a report on Monday, December 29th. Finally, Tudor Pickering raised Excelerate Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 17th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $32.63.

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.