Bank of New York Mellon Corp Has $3.31 Million Stock Position in Excelerate Energy, Inc. (NYSE:EE)

Bank of New York Mellon Corp decreased its stake in shares of Excelerate Energy, Inc. (NYSE:EE - Free Report) by 20.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 109,255 shares of the company's stock after selling 28,392 shares during the period. Bank of New York Mellon Corp owned 0.10% of Excelerate Energy worth $3,305,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in EE. Victory Capital Management Inc. bought a new stake in Excelerate Energy during the 3rd quarter valued at approximately $214,000. Algert Global LLC lifted its position in shares of Excelerate Energy by 13.7% in the 3rd quarter. Algert Global LLC now owns 118,093 shares of the company's stock worth $2,599,000 after acquiring an additional 14,253 shares during the period. Quantbot Technologies LP bought a new stake in shares of Excelerate Energy in the 3rd quarter worth approximately $94,000. FMR LLC lifted its position in shares of Excelerate Energy by 134.2% in the 3rd quarter. FMR LLC now owns 23,134 shares of the company's stock worth $509,000 after acquiring an additional 13,257 shares during the period. Finally, Martingale Asset Management L P lifted its position in shares of Excelerate Energy by 39.8% in the 3rd quarter. Martingale Asset Management L P now owns 27,690 shares of the company's stock worth $609,000 after acquiring an additional 7,880 shares during the period. Institutional investors own 21.79% of the company's stock.

Excelerate Energy Price Performance

EE stock traded down $0.09 during midday trading on Friday, reaching $29.13. 325,511 shares of the company's stock traded hands, compared to its average volume of 213,216. The company has a 50-day simple moving average of $29.83 and a two-hundred day simple moving average of $27.32. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 29.42, a PEG ratio of 5.82 and a beta of 1.39. Excelerate Energy, Inc. has a 1-year low of $14.94 and a 1-year high of $32.99. The company has a quick ratio of 4.12, a current ratio of 4.12 and a debt-to-equity ratio of 0.34.

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Excelerate Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 12th will be given a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.24 annualized dividend and a dividend yield of 0.82%. Excelerate Energy's dividend payout ratio is currently 19.20%.

Analyst Ratings Changes

A number of analysts have commented on the company. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $31.00 price objective (up previously from $22.00) on shares of Excelerate Energy in a research report on Tuesday, January 7th. Stephens restated an "overweight" rating and set a $36.00 target price on shares of Excelerate Energy in a research report on Monday, March 3rd. Barclays raised 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. Northland Securities raised 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. Finally, Morgan Stanley restated an "underweight" rating and set a $29.00 target price (up previously from $25.00) on shares of Excelerate Energy in a research report on Friday, January 31st. Three equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $31.17.

Excelerate Energy Company 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.