Excelerate Energy (NYSE:EE) Shares Gap Down - Here's Why

Excelerate Energy, Inc. (NYSE:EE - Get Free Report)'s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $28.68, but opened at $27.00. Excelerate Energy shares last traded at $27.04, with a volume of 1,255,926 shares traded.

Analyst Ratings Changes

EE has been the topic of several research reports. Stephens restated an "overweight" rating and set a $36.00 price target on shares of Excelerate Energy in a research report on Monday, March 3rd. Barclays upped their target price on shares of 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 boosted their price objective on shares of Excelerate Energy from $29.00 to $37.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 18th. Wells Fargo & Company reiterated an "underweight" rating on shares of Excelerate Energy in a research note on Friday, March 28th. Finally, JPMorgan Chase & Co. reissued an "underweight" rating and issued a $31.00 target price (up from $22.00) on shares of Excelerate Energy in a report on Tuesday, January 7th. Three research analysts have rated the stock with a sell rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $31.17.

Excelerate Energy Trading Down 4.5 %

The firm has a market capitalization of $2.62 billion, a PE ratio of 24.99, a P/E/G ratio of 5.82 and a beta of 1.37. The firm has a 50 day simple moving average of $29.21 and a 200 day simple moving average of $27.95. The company has a current ratio of 4.12, a quick ratio of 4.12 and a debt-to-equity ratio of 0.34.

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Excelerate Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 12th were given a dividend of $0.06 per share. The ex-dividend date was Wednesday, March 12th. This represents a $0.24 annualized dividend and a dividend yield of 0.97%. Excelerate Energy's dividend payout ratio (DPR) is presently 19.20%.

Hedge Funds Weigh In On Excelerate Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. SBI Securities Co. Ltd. bought a new stake in shares of Excelerate Energy in the fourth quarter worth approximately $27,000. Aquatic Capital Management LLC bought a new stake in Excelerate Energy in the 4th quarter worth approximately $33,000. Quarry LP raised its stake in Excelerate Energy by 28.9% during the 3rd quarter. Quarry LP now owns 1,822 shares of the company's stock valued at $40,000 after buying an additional 409 shares during the last quarter. Summit Investment Advisors Inc. raised its stake in Excelerate Energy by 28.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,791 shares of the company's stock valued at $54,000 after buying an additional 400 shares during the last quarter. Finally, 10Elms LLP purchased a new position in shares of Excelerate Energy in the 4th quarter worth $76,000. Institutional investors own 21.79% of the company's stock.

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.