Van ECK Associates Corp Sells 2,712 Shares of Excelerate Energy, Inc. (NYSE:EE)

Van ECK Associates Corp lowered its position in Excelerate Energy, Inc. (NYSE:EE) by 16.7% during the 4th quarter, Holdings Channel reports. The firm owned 13,485 shares of the company’s stock after selling 2,712 shares during the quarter. Van ECK Associates Corp’s holdings in Excelerate Energy were worth $408,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Quarry LP grew its position in shares of Excelerate Energy by 28.9% during the 3rd quarter. Quarry LP now owns 1,822 shares of the company’s stock worth $40,000 after buying an additional 409 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Excelerate Energy in the 3rd quarter worth approximately $94,000. US Bancorp DE bought a new position in shares of Excelerate Energy during the third quarter valued at approximately $130,000. SG Americas Securities LLC raised its stake in Excelerate Energy by 11.6% in the fourth quarter. SG Americas Securities LLC now owns 8,141 shares of the company’s stock worth $246,000 after buying an additional 845 shares in the last quarter. Finally, Janus Henderson Group PLC bought a new stake in Excelerate Energy during the 3rd quarter valued at $200,000. 21.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on EE. Northland Securities raised their price objective on Excelerate Energy from $29.00 to $37.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th. Morgan Stanley reiterated an “underweight” rating and set a $29.00 price objective (up previously from $25.00) on shares of Excelerate Energy in a research note on Friday, January 31st. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $31.00 target price (up from $22.00) on shares of Excelerate Energy in a research report on Tuesday, January 7th. Stephens increased their price objective on shares of Excelerate Energy from $28.00 to $36.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company upped their price target on shares of Excelerate Energy from $19.00 to $22.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $31.00.

Excelerate Energy Stock Performance

EE opened at $28.29 on Friday. The company has a market cap of $3.01 billion, a price-to-earnings ratio of 28.58, a PEG ratio of 5.82 and a beta of 1.41. Excelerate Energy, Inc. has a 52-week low of $13.39 and a 52-week high of $32.99. The firm’s fifty day simple moving average is $30.38 and its two-hundred day simple moving average is $25.97. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 12th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend is Wednesday, March 12th. Excelerate Energy’s dividend payout ratio is currently 24.24%.

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.