JPMorgan Chase & Co. Buys 56,661 Shares of Excelerate Energy, Inc. (NYSE:EE)

JPMorgan Chase & Co. raised its stake in shares of Excelerate Energy, Inc. (NYSE:EE) by 113.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 106,707 shares of the company’s stock after purchasing an additional 56,661 shares during the quarter. JPMorgan Chase & Co. owned 0.10% of Excelerate Energy worth $3,228,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. TimesSquare Capital Management LLC bought a new position in shares of Excelerate Energy during the 4th quarter worth about $13,854,000. Raymond James Financial Inc. bought a new position in Excelerate Energy during the fourth quarter worth about $5,510,000. Harvest Fund Management Co. Ltd acquired a new stake in Excelerate Energy during the fourth quarter valued at approximately $1,622,000. Quantbot Technologies LP grew its stake in shares of Excelerate Energy by 814.1% in the 4th quarter. Quantbot Technologies LP now owns 39,014 shares of the company’s stock valued at $1,180,000 after purchasing an additional 34,746 shares during the period. Finally, Barclays PLC grew its stake in shares of Excelerate Energy by 299.8% in the 3rd quarter. Barclays PLC now owns 26,822 shares of the company’s stock valued at $591,000 after purchasing an additional 20,113 shares during the period. 21.79% of the stock is owned by institutional investors and hedge funds.

Excelerate Energy Stock Performance

Excelerate Energy stock opened at $26.21 on Tuesday. The stock has a 50-day simple moving average of $28.06 and a 200 day simple moving average of $28.38. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 26.47, a P/E/G ratio of 5.82 and a beta of 1.37. The company has a quick ratio of 4.12, a current ratio of 4.12 and a debt-to-equity ratio of 0.34. Excelerate Energy, Inc. has a 12-month low of $16.15 and a 12-month high of $32.99.

Excelerate Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 12th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.92%. Excelerate Energy’s payout ratio is 19.20%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $31.00 price target (up from $22.00) on shares of Excelerate Energy in a research report on Tuesday, January 7th. Barclays increased their target price on shares of Excelerate Energy from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Wells Fargo & Company restated an “underweight” rating on shares of Excelerate Energy in a research report on Friday, March 28th. Stephens reaffirmed an “overweight” rating and set a $36.00 price objective on shares of Excelerate Energy in a research note on Monday, March 3rd. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $29.00 target price (up previously from $25.00) on shares of Excelerate Energy in a research note on Friday, January 31st. Three investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Excelerate Energy has an average rating of “Hold” and a consensus price target of $31.17.

Excelerate Energy 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.