Raymond James & Associates Cuts Stock Holdings in Excelerate Energy, Inc. (NYSE:EE)

Raymond James & Associates lowered its holdings in shares of Excelerate Energy, Inc. (NYSE:EE) by 5.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,360 shares of the company’s stock after selling 854 shares during the quarter. Raymond James & Associates’ holdings in Excelerate Energy were worth $333,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of EE. Norges Bank bought a new position in Excelerate Energy during the fourth quarter valued at $18,206,000. FMR LLC bought a new stake in shares of Excelerate Energy in the 2nd quarter worth about $12,948,000. Ranger Investment Management L.P. lifted its holdings in shares of Excelerate Energy by 46.9% in the 1st quarter. Ranger Investment Management L.P. now owns 1,608,675 shares of the company’s stock worth $35,616,000 after acquiring an additional 513,555 shares during the last quarter. SIR Capital Management L.P. lifted its holdings in shares of Excelerate Energy by 161.6% in the 1st quarter. SIR Capital Management L.P. now owns 671,789 shares of the company’s stock worth $14,873,000 after acquiring an additional 414,999 shares during the last quarter. Finally, State Street Corp bought a new stake in shares of Excelerate Energy in the 2nd quarter worth about $5,695,000. Institutional investors own 21.78% of the company’s stock.

Excelerate Energy Trading Up 7.0 %

Shares of EE opened at $17.17 on Friday. Excelerate Energy, Inc. has a 1-year low of $13.70 and a 1-year high of $31.13. The company has a 50-day moving average of $16.48 and a 200 day moving average of $18.97. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 15.06 and a beta of 1.36. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.56 and a quick ratio of 3.41.

Excelerate Energy (NYSE:EE) last posted its earnings results on Wednesday, August 9th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.08). The business had revenue of $432.37 million for the quarter, compared to analysts’ expectations of $255.68 million. Excelerate Energy had a net margin of 2.42% and a return on equity of 2.05%. On average, research analysts expect that Excelerate Energy, Inc. will post 1.05 EPS for the current year.

Excelerate Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Tuesday, November 28th will be given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Monday, November 27th. Excelerate Energy’s dividend payout ratio (DPR) is 8.77%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Barclays lowered their target price on shares of Excelerate Energy from $30.00 to $26.00 in a report on Tuesday, July 18th. StockNews.com lowered shares of Excelerate Energy from a “hold” rating to a “sell” rating in a report on Thursday. Morgan Stanley decreased their price objective on shares of Excelerate Energy from $33.00 to $30.00 and set an “equal weight” rating for the company in a report on Wednesday, October 25th. Finally, Raymond James lifted their price objective on shares of Excelerate Energy from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $28.17.

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; natural gas supply to-power projects; and a suite of smaller-scale gas distribution solutions.