CenterBook Partners LP Has $2.34 Million Position in Excelerate Energy, Inc. $EE

CenterBook Partners LP boosted its stake in shares of Excelerate Energy, Inc. (NYSE:EE) by 365.0% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 92,963 shares of the company’s stock after purchasing an additional 72,971 shares during the period. CenterBook Partners LP owned about 0.08% of Excelerate Energy worth $2,342,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in shares of Excelerate Energy by 37.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 408,152 shares of the company’s stock valued at $10,281,000 after buying an additional 110,970 shares during the period. PNC Financial Services Group Inc. boosted its position in Excelerate Energy by 19.2% during the third quarter. PNC Financial Services Group Inc. now owns 2,438 shares of the company’s stock valued at $61,000 after purchasing an additional 392 shares during the last quarter. TimesSquare Capital Management LLC grew its stake in Excelerate Energy by 29.0% in the third quarter. TimesSquare Capital Management LLC now owns 924,123 shares of the company’s stock valued at $23,279,000 after purchasing an additional 207,771 shares in the last quarter. Versor Investments LP purchased a new position in Excelerate Energy in the third quarter valued at about $390,000. Finally, Navellier & Associates Inc. increased its position in Excelerate Energy by 61.5% in the 3rd quarter. Navellier & Associates Inc. now owns 24,822 shares of the company’s stock worth $625,000 after purchasing an additional 9,456 shares during the last quarter. Hedge funds and other institutional investors own 21.79% of the company’s stock.

Wall Street Analyst Weigh In

EE has been the subject of several recent research reports. Jefferies Financial Group boosted their price target on Excelerate Energy from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Wall Street Zen raised shares of Excelerate Energy from a “hold” rating to a “buy” rating in a research report on Sunday, January 11th. Raymond James Financial upgraded shares of Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 price target on the stock in a report on Monday, January 5th. Tudor Pickering upgraded Excelerate Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 17th. Finally, Morgan Stanley set a $30.00 price target on Excelerate Energy and gave the stock an “equal weight” rating in a research note on Thursday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $35.50.

Excelerate Energy Trading Up 0.3%

Excelerate Energy stock opened at $41.94 on Friday. Excelerate Energy, Inc. has a 52 week low of $21.28 and a 52 week high of $43.03. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.39 and a current ratio of 2.39. The firm has a market capitalization of $4.78 billion, a PE ratio of 29.13, a PEG ratio of 1.33 and a beta of 1.36. The business’s 50-day simple moving average is $32.99 and its 200-day simple moving average is $28.27.

Excelerate Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th will be paid a $0.08 dividend. The ex-dividend date is Wednesday, March 11th. This represents a $0.32 annualized dividend and a dividend yield of 0.8%. Excelerate Energy’s dividend payout ratio (DPR) is presently 22.22%.

Excelerate Energy declared that its board has initiated a stock repurchase program on Thursday, December 11th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

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.