Principal Financial Group Inc. Acquires Shares of 9,354 Excelerate Energy, Inc. (NYSE:EE)

Principal Financial Group Inc. bought a new stake in shares of Excelerate Energy, Inc. (NYSE:EE - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 9,354 shares of the company's stock, valued at approximately $283,000.

Other large investors also recently added to or reduced their stakes in the company. Quarry LP lifted its position in Excelerate Energy by 28.9% during the third quarter. Quarry LP now owns 1,822 shares of the company's stock valued at $40,000 after purchasing an additional 409 shares during the last quarter. SG Americas Securities LLC increased its position in Excelerate Energy by 11.6% during the fourth quarter. SG Americas Securities LLC now owns 8,141 shares of the company's stock valued at $246,000 after acquiring an additional 845 shares during the last quarter. Verition Fund Management LLC raised its stake in shares of Excelerate Energy by 27.8% in the third quarter. Verition Fund Management LLC now owns 17,724 shares of the company's stock valued at $390,000 after acquiring an additional 3,855 shares during the period. Quantbot Technologies LP bought a new stake in shares of Excelerate Energy in the 3rd quarter worth about $94,000. Finally, US Bancorp DE purchased a new position in shares of Excelerate Energy during the 3rd quarter worth about $130,000. 21.79% of the stock is owned by hedge funds and other institutional investors.

Excelerate Energy Price Performance

Shares of NYSE:EE traded down $0.29 during midday trading on Tuesday, reaching $28.01. 239,936 shares of the company's stock traded hands, compared to its average volume of 211,837. The company has a fifty day simple moving average of $30.15 and a two-hundred day simple moving average of $26.79. Excelerate Energy, Inc. has a 1 year low of $14.94 and a 1 year high of $32.99. The company has a market cap of $2.97 billion, a P/E ratio of 28.29, a PEG ratio of 5.82 and a beta of 1.39. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.12 and a current ratio of 4.12.

Remove Ads

Excelerate Energy Announces Dividend

The firm also recently announced 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. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Wednesday, March 12th. Excelerate Energy's dividend payout ratio (DPR) is 19.20%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on EE shares. Morgan Stanley reaffirmed an "underweight" rating and set a $29.00 target price (up previously from $25.00) on shares of Excelerate Energy in a research note on Friday, January 31st. Stephens reiterated an "overweight" rating and issued a $36.00 target price on shares of Excelerate Energy in a research note on Monday, March 3rd. Northland Securities boosted their target price on shares of Excelerate Energy from $29.00 to $37.00 and gave the company an "outperform" rating in a research note on Wednesday, December 18th. 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 note on Tuesday, January 7th. Finally, Barclays lifted their price objective on shares of Excelerate Energy from $31.00 to $32.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Three research analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus 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.