Prudential Financial Inc. Sells 53,320 Shares of Excelerate Energy, Inc. (NYSE:EE)

Prudential Financial Inc. lowered its position in shares of Excelerate Energy, Inc. (NYSE:EE - Free Report) by 86.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,635 shares of the company's stock after selling 53,320 shares during the quarter. Prudential Financial Inc.'s holdings in Excelerate Energy were worth $261,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EE. TimesSquare Capital Management LLC purchased a new position in shares of Excelerate Energy during the 4th quarter valued at $13,854,000. Raymond James Financial Inc. bought a new position in Excelerate Energy during the fourth quarter valued at approximately $5,510,000. Harvest Fund Management Co. Ltd acquired a new stake in Excelerate Energy in the fourth quarter valued at approximately $1,622,000. JPMorgan Chase & Co. grew its position in Excelerate Energy by 34.4% in the third quarter. JPMorgan Chase & Co. now owns 50,046 shares of the company's stock worth $1,102,000 after acquiring an additional 12,802 shares in the last quarter. Finally, Quantbot Technologies LP increased its stake in shares of Excelerate Energy by 814.1% during the 4th quarter. Quantbot Technologies LP now owns 39,014 shares of the company's stock worth $1,180,000 after purchasing an additional 34,746 shares during the last quarter. 21.79% of the stock is currently owned by hedge funds and other institutional investors.

Excelerate Energy Stock Performance

Shares of EE traded up $0.27 on Wednesday, reaching $26.66. 13,726 shares of the stock traded hands, compared to its average volume of 265,468. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 26.97, a P/E/G ratio of 5.82 and a beta of 1.37. 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 stock's 50-day moving average price is $28.37 and its 200-day moving average price is $28.24. Excelerate Energy, Inc. has a 12 month low of $14.98 and a 12 month high of $32.99.

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Excelerate Energy Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have weighed in on EE shares. Wells Fargo & Company restated an "underweight" rating on shares of Excelerate Energy in a report on Friday, March 28th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $31.00 target price (up previously from $22.00) on shares of Excelerate Energy in a research report on Tuesday, January 7th. Barclays boosted their price objective on shares of Excelerate Energy from $31.00 to $32.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Northland Securities boosted their target price on shares of Excelerate Energy from $29.00 to $37.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 18th. Finally, Stephens reiterated an "overweight" rating and issued a $36.00 price objective on shares of Excelerate Energy in a research note on Monday, March 3rd. Three equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price 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.