Renaissance Technologies LLC Raises Stock Holdings in Excelerate Energy, Inc. $EE

Renaissance Technologies LLC raised its stake in shares of Excelerate Energy, Inc. (NYSE:EE) by 132.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 285,519 shares of the company’s stock after acquiring an additional 162,919 shares during the period. Renaissance Technologies LLC’s holdings in Excelerate Energy were worth $9,542,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Caxton Associates LLP purchased a new stake in Excelerate Energy in the first quarter valued at approximately $276,000. Sei Investments Co. grew its stake in shares of Excelerate Energy by 39.6% in the first quarter. Sei Investments Co. now owns 81,382 shares of the company’s stock valued at $2,720,000 after buying an additional 23,091 shares in the last quarter. First Trust Advisors LP purchased a new stake in shares of Excelerate Energy in the 1st quarter valued at $2,695,000. Swiss National Bank lifted its stake in Excelerate Energy by 1.9% during the 1st quarter. Swiss National Bank now owns 47,500 shares of the company’s stock worth $1,587,000 after acquiring an additional 900 shares in the last quarter. Finally, Simon Quick Advisors LLC acquired a new position in Excelerate Energy during the 1st quarter worth about $214,000. Institutional investors and hedge funds own 21.79% of the company’s stock.

Excelerate Energy Stock Performance

Shares of Excelerate Energy stock opened at $39.22 on Monday. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.53. Excelerate Energy, Inc. has a 52 week low of $21.28 and a 52 week high of $43.17. The firm’s 50 day moving average is $36.40 and its two-hundred day moving average is $36.03. The firm has a market capitalization of $4.47 billion, a P/E ratio of 31.89, a P/E/G ratio of 1.43 and a beta of 1.22.

Excelerate Energy (NYSE:EE) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). Excelerate Energy had a return on equity of 3.85% and a net margin of 2.98%.The company had revenue of $433.44 million for the quarter, compared to analyst estimates of $351.68 million. During the same quarter in the prior year, the business earned $0.49 earnings per share. Excelerate Energy’s revenue was up 37.6% compared to the same quarter last year. Research analysts forecast that Excelerate Energy, Inc. will post 1.52 EPS for the current fiscal year.

Excelerate Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Wednesday, August 19th will be issued a $0.09 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.9%. This is a boost from Excelerate Energy’s previous quarterly dividend of $0.08. Excelerate Energy’s payout ratio is 26.02%.

Analysts Set New Price Targets

Several equities analysts have weighed in on EE shares. Wall Street Zen raised Excelerate Energy from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Northland Securities set a $48.00 price target on shares of Excelerate Energy in a research note on Friday, May 15th. Zacks Research raised Excelerate Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 14th. Morgan Stanley cut their price objective on Excelerate Energy from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 21st. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $42.00 price objective on shares of Excelerate Energy in a research note on Friday, May 8th. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.64.

Excelerate Energy Profile

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.