Norges Bank Invests $1.13 Million in Excelerate Energy, Inc. (NYSE:EE)

Norges Bank purchased a new position in Excelerate Energy, Inc. (NYSE:EE - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 37,300 shares of the company's stock, valued at approximately $1,128,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. SBI Securities Co. Ltd. purchased a new position in Excelerate Energy in the fourth quarter worth $27,000. Cable Hill Partners LLC purchased a new position in shares of Excelerate Energy in the 4th quarter worth about $202,000. KLP Kapitalforvaltning AS bought a new position in shares of Excelerate Energy during the 4th quarter valued at about $212,000. Intech Investment Management LLC purchased a new position in shares of Excelerate Energy during the 4th quarter valued at about $220,000. Finally, SG Americas Securities LLC raised its holdings in shares of Excelerate Energy by 11.6% during the 4th quarter. SG Americas Securities LLC now owns 8,141 shares of the company's stock valued at $246,000 after buying an additional 845 shares in the last quarter. Hedge funds and other institutional investors own 21.79% of the company's stock.

Excelerate Energy Trading Up 1.0 %

EE stock traded up $0.27 during trading on Wednesday, reaching $26.66. The company had a trading volume of 113,606 shares, compared to its average volume of 265,884. The business has a 50 day moving average of $28.37 and a 200 day moving average of $28.24. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.12 and a quick ratio of 4.12. The company has a market cap of $2.82 billion, a P/E ratio of 26.93, a PEG ratio of 5.82 and a beta of 1.37. Excelerate Energy, Inc. has a 52 week low of $14.98 and a 52 week high of $32.99.

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Excelerate Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 12th were paid a $0.06 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.24 annualized dividend and a dividend yield of 0.90%. Excelerate Energy's payout ratio is currently 19.20%.

Wall Street Analyst Weigh In

EE has been the subject of a number of recent research reports. Morgan Stanley restated an "underweight" rating and issued a $29.00 price objective (up from $25.00) on shares of Excelerate Energy in a report on Friday, January 31st. Northland Securities upped their price target on shares of Excelerate Energy from $29.00 to $37.00 and gave the company an "outperform" rating in a report on Wednesday, December 18th. Stephens reissued an "overweight" rating and issued a $36.00 price target on shares of Excelerate Energy in a report on Monday, March 3rd. Wells Fargo & Company reaffirmed an "underweight" rating on shares of Excelerate Energy in a research note on Friday, March 28th. Finally, JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $31.00 price target (up previously from $22.00) on shares of Excelerate Energy in a research report on Tuesday, January 7th. Three analysts have rated the stock with a sell rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $31.17.

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.