Contravisory Investment Management Inc. Acquires New Shares in Excelerate Energy, Inc. (NYSE:EE)

Contravisory Investment Management Inc. purchased a new position in shares of Excelerate Energy, Inc. (NYSE:EE - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 11,302 shares of the company's stock, valued at approximately $342,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP lifted its position in shares of Excelerate Energy by 28.9% during the third quarter. Quarry LP now owns 1,822 shares of the company's stock worth $40,000 after purchasing an additional 409 shares in the last quarter. Rhumbline Advisers boosted its position in Excelerate Energy by 9.6% in the 2nd quarter. Rhumbline Advisers now owns 29,243 shares of the company's stock valued at $539,000 after buying an additional 2,553 shares during the period. Susquehanna Fundamental Investments LLC grew its stake in shares of Excelerate Energy by 5.2% in the second quarter. Susquehanna Fundamental Investments LLC now owns 58,203 shares of the company's stock worth $1,073,000 after acquiring an additional 2,900 shares in the last quarter. Verition Fund Management LLC increased its position in shares of Excelerate Energy by 27.8% during the third quarter. Verition Fund Management LLC now owns 17,724 shares of the company's stock worth $390,000 after acquiring an additional 3,855 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of Excelerate Energy in the third quarter valued at $94,000. Institutional investors and hedge funds own 21.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on EE shares. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $31.00 price target (up previously from $22.00) on shares of Excelerate Energy in a research report on Tuesday, January 7th. Stephens boosted their price target on shares of Excelerate Energy from $28.00 to $36.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Barclays increased their price objective on shares of Excelerate Energy from $26.00 to $31.00 and gave the company an "overweight" rating in a research report on Monday. Wells Fargo & Company lifted their price objective on shares of Excelerate Energy from $19.00 to $22.00 and gave the stock an "underweight" rating in a research report on Tuesday, November 12th. Finally, Northland Securities raised their price target on Excelerate Energy from $29.00 to $37.00 and gave the company an "outperform" rating in a research note on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $29.43.

Excelerate Energy Stock Performance

NYSE EE traded up $0.28 during trading on Friday, reaching $32.31. The company's stock had a trading volume of 158,047 shares, compared to its average volume of 214,621. The business's fifty day moving average price is $30.10 and its 200-day moving average price is $23.88. Excelerate Energy, Inc. has a twelve month low of $13.38 and a twelve month high of $32.47. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.12 and a current ratio of 4.12. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of 32.64, a P/E/G ratio of 1.81 and a beta of 1.42.

Excelerate Energy (NYSE:EE - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.03. Excelerate Energy had a return on equity of 1.39% and a net margin of 3.14%. The firm had revenue of $193.42 million for the quarter, compared to analysts' expectations of $194.09 million. During the same quarter in the previous year, the firm posted $0.40 EPS. As a group, analysts anticipate that Excelerate Energy, Inc. will post 1.23 EPS for the current fiscal year.

Excelerate Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Wednesday, November 20th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, November 20th. This is an increase from Excelerate Energy's previous quarterly dividend of $0.03. This represents a $0.24 annualized dividend and a dividend yield of 0.74%. Excelerate Energy's dividend payout ratio (DPR) is currently 24.24%.

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.