Invesco Ltd. Sells 9,673 Shares of Excelerate Energy, Inc. $EE

Invesco Ltd. lowered its position in shares of Excelerate Energy, Inc. (NYSE:EE) by 21.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,440 shares of the company’s stock after selling 9,673 shares during the period. Invesco Ltd.’s holdings in Excelerate Energy were worth $1,016,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Aquatic Capital Management LLC bought a new stake in Excelerate Energy during the fourth quarter worth about $33,000. New York State Teachers Retirement System lifted its stake in Excelerate Energy by 1,467.0% during the first quarter. New York State Teachers Retirement System now owns 1,567 shares of the company’s stock worth $45,000 after purchasing an additional 1,467 shares during the last quarter. 10Elms LLP bought a new stake in Excelerate Energy during the fourth quarter worth about $76,000. Mariner LLC bought a new stake in Excelerate Energy during the fourth quarter worth about $200,000. Finally, MQS Management LLC bought a new stake in Excelerate Energy during the first quarter worth about $224,000. Institutional investors own 21.79% of the company’s stock.

Wall Street Analyst Weigh In

EE has been the subject of several analyst reports. Wall Street Zen upgraded shares of Excelerate Energy from a “sell” rating to a “hold” rating in a research report on Sunday, August 24th. Wells Fargo & Company set a $26.00 price objective on Excelerate Energy in a report on Monday, August 11th. Jefferies Financial Group assumed coverage on Excelerate Energy in a report on Thursday, June 5th. They issued a “buy” rating and a $39.00 price objective on the stock. Finally, Citigroup reiterated an “outperform” rating on shares of Excelerate Energy in a report on Wednesday, August 13th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Excelerate Energy has a consensus rating of “Hold” and an average price target of $32.86.

Excelerate Energy Trading Down 2.4%

NYSE:EE opened at $23.83 on Wednesday. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of 17.52 and a beta of 1.38. Excelerate Energy, Inc. has a 52 week low of $17.70 and a 52 week high of $32.99. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average price is $25.69 and its 200-day moving average price is $27.40.

Excelerate Energy (NYSE:EE) last released its quarterly earnings data on Monday, August 11th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. The business had revenue of $204.60 million for the quarter, compared to analysts’ expectations of $259.82 million. Excelerate Energy had a return on equity of 4.16% and a net margin of 3.64%.Excelerate Energy’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities research analysts forecast that Excelerate Energy, Inc. will post 1.16 earnings per share for the current fiscal year.

Excelerate Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Wednesday, August 20th will be given a $0.08 dividend. The ex-dividend date is Wednesday, August 20th. This is a boost from Excelerate Energy’s previous quarterly dividend of $0.06. This represents a $0.32 annualized dividend and a yield of 1.3%. Excelerate Energy’s payout ratio is 23.53%.

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.