Lazard Asset Management LLC Raises Holdings in Excelerate Energy, Inc. (NYSE:EE)

Lazard Asset Management LLC increased its position in Excelerate Energy, Inc. (NYSE:EE) by 489.7% in the 4th quarter, HoldingsChannel reports. The fund owned 23,572 shares of the company’s stock after purchasing an additional 19,575 shares during the period. Lazard Asset Management LLC’s holdings in Excelerate Energy were worth $712,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in EE. Jacobs Levy Equity Management Inc. lifted its holdings in Excelerate Energy by 94.3% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 350,128 shares of the company’s stock valued at $10,591,000 after purchasing an additional 169,924 shares during the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of Excelerate Energy during the 4th quarter valued at approximately $275,000. Graham Capital Management L.P. boosted its holdings in Excelerate Energy by 85.0% in the 4th quarter. Graham Capital Management L.P. now owns 22,429 shares of the company’s stock worth $678,000 after buying an additional 10,308 shares during the period. Ethic Inc. bought a new position in Excelerate Energy in the 4th quarter worth approximately $410,000. Finally, Deutsche Bank AG grew its stake in Excelerate Energy by 72.1% in the 4th quarter. Deutsche Bank AG now owns 19,472 shares of the company’s stock valued at $589,000 after buying an additional 8,159 shares in the last quarter. Hedge funds and other institutional investors own 21.79% of the company’s stock.

Excelerate Energy Trading Up 1.0%

Excelerate Energy stock opened at $29.42 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.12 and a current ratio of 4.12. Excelerate Energy, Inc. has a fifty-two week low of $16.70 and a fifty-two week high of $32.99. The stock has a market cap of $3.12 billion, a P/E ratio of 29.72, a PEG ratio of 5.82 and a beta of 1.39. The firm’s fifty day moving average price is $27.34 and its 200-day moving average price is $28.92.

Excelerate Energy (NYSE:EE) last announced its earnings results on Wednesday, May 7th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.10. Excelerate Energy had a return on equity of 1.39% and a net margin of 3.14%. The business had revenue of $315.09 million for the quarter, compared to analyst estimates of $207.87 million. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. Equities research analysts forecast that Excelerate Energy, Inc. will post 1.16 earnings per share for the current fiscal year.

Excelerate Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Wednesday, May 21st will be paid a $0.06 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $0.24 dividend on an annualized basis and a yield of 0.82%. Excelerate Energy’s dividend payout ratio is presently 16.33%.

Wall Street Analysts Forecast Growth

EE has been the topic of several recent research reports. Barclays increased their target price 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 reissued an “underweight” rating on shares of Excelerate Energy in a report on Friday, March 28th. Stephens restated an “overweight” rating and issued a $36.00 target price on shares of Excelerate Energy in a research note on Monday, March 3rd. Finally, Morgan Stanley reiterated an “underweight” rating and set a $29.00 price target (up from $25.00) on shares of Excelerate Energy in a research report 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $31.17.

About Excelerate Energy

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.