Principal Financial Group Inc. Buys 25,139 Shares of Excelerate Energy, Inc. $EE

Principal Financial Group Inc. boosted its stake in shares of Excelerate Energy, Inc. (NYSE:EE) by 153.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,518 shares of the company’s stock after purchasing an additional 25,139 shares during the quarter. Principal Financial Group Inc.’s holdings in Excelerate Energy were worth $1,046,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Kayne Anderson Capital Advisors LP bought a new stake in shares of Excelerate Energy during the 2nd quarter worth $12,926,000. Emerald Advisers LLC acquired a new position in Excelerate Energy during the 2nd quarter worth $11,740,000. Qube Research & Technologies Ltd boosted its holdings in Excelerate Energy by 328.4% during the second quarter. Qube Research & Technologies Ltd now owns 453,345 shares of the company’s stock valued at $13,292,000 after acquiring an additional 347,521 shares during the period. TimesSquare Capital Management LLC grew its position in shares of 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 during the last quarter. Finally, Marshall Wace LLP increased its stake 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 worth $8,566,000 after purchasing an additional 237,056 shares during the period. Institutional investors own 21.79% of the company’s stock.

Excelerate Energy Price Performance

Shares of Excelerate Energy stock opened at $41.79 on Thursday. The firm has a market cap of $4.77 billion, a P/E ratio of 29.02, a price-to-earnings-growth ratio of 1.33 and a beta of 1.36. The firm’s 50-day simple moving average is $32.69 and its 200-day simple moving average is $28.18. Excelerate Energy, Inc. has a twelve month low of $21.28 and a twelve month high of $43.04. 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 announced that its Board of Directors has authorized a share repurchase plan on Thursday, December 11th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on EE. Jefferies Financial Group increased their target price on Excelerate Energy from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $44.00 price objective on shares of Excelerate Energy in a research note on Friday, February 6th. Northland Securities set a $50.00 target price on shares of Excelerate Energy in a research note on Friday, January 30th. Raymond James Financial raised shares of Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 price target for the company in a report on Monday, January 5th. Finally, Morgan Stanley set a $30.00 price objective on shares of Excelerate Energy and gave the stock an “equal weight” rating in a report on Thursday, November 6th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $35.50.

About Excelerate Energy

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.