Norges Bank Takes Position in Excelerate Energy, Inc. (NYSE:EE)

Norges Bank purchased a new position in shares of Excelerate Energy, Inc. (NYSE:EE) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 37,300 shares of the company’s stock, valued at approximately $1,128,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. TimesSquare Capital Management LLC purchased a new position in Excelerate Energy during the 4th quarter worth $13,854,000. Raymond James Financial Inc. acquired a new position in shares of Excelerate Energy during the fourth quarter worth about $5,510,000. JPMorgan Chase & Co. increased its stake in shares of Excelerate Energy by 113.2% during the fourth quarter. JPMorgan Chase & Co. now owns 106,707 shares of the company’s stock worth $3,228,000 after acquiring an additional 56,661 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in Excelerate Energy during the fourth quarter worth about $1,622,000. Finally, Quantbot Technologies LP lifted its position in Excelerate Energy by 814.1% in the fourth 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. 21.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on EE shares. Northland Securities boosted their target price on Excelerate Energy from $29.00 to $37.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Barclays increased their price objective on 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. Morgan Stanley reiterated an “underweight” rating and issued a $29.00 price target (up previously from $25.00) on shares of Excelerate Energy in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and set a $31.00 price objective (up previously from $22.00) on shares of Excelerate Energy in a report on Tuesday, January 7th. Three research analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Excelerate Energy currently has a consensus rating of “Hold” and a consensus price target of $31.17.

Excelerate Energy Price Performance

Excelerate Energy stock opened at $26.03 on Friday. The firm has a market capitalization of $2.76 billion, a PE ratio of 26.29, a P/E/G ratio of 5.82 and a beta of 1.37. Excelerate Energy, Inc. has a 52 week low of $14.98 and a 52 week high of $32.99. The firm’s 50-day simple moving average is $28.53 and its 200 day simple moving average is $28.17. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 12th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Wednesday, March 12th. Excelerate Energy’s dividend payout ratio (DPR) is presently 19.20%.

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.