Summit Global Investments Makes New Investment in Excelerate Energy, Inc. (NYSE:EE)

Summit Global Investments acquired a new position in shares of Excelerate Energy, Inc. (NYSE:EE - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 12,374 shares of the company's stock, valued at approximately $374,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in Excelerate Energy during the fourth quarter worth approximately $27,000. Quarry LP grew its position in shares of Excelerate Energy by 28.9% in 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. Quantbot Technologies LP acquired a new stake in Excelerate Energy during the 3rd quarter worth $94,000. Cable Hill Partners LLC purchased a new stake in Excelerate Energy in the fourth quarter valued at $202,000. Finally, Intech Investment Management LLC acquired a new position in Excelerate Energy in the fourth quarter valued at $220,000. Institutional investors and hedge funds own 21.79% of the company's stock.

Analyst Ratings Changes

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

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Excelerate Energy Stock Performance

Shares of NYSE:EE traded down $1.88 during trading on Friday, reaching $27.99. The company had a trading volume of 588,342 shares, compared to its average volume of 223,549. Excelerate Energy, Inc. has a fifty-two week low of $14.94 and a fifty-two week high of $32.99. 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 fifty day moving average price is $29.79 and its 200 day moving average price is $27.61. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 28.27, a price-to-earnings-growth ratio of 5.82 and a beta of 1.39.

Excelerate Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 12th were issued a dividend of $0.06 per share. The ex-dividend date was Wednesday, March 12th. This represents a $0.24 annualized dividend and a yield of 0.86%. Excelerate Energy's dividend payout ratio is currently 19.20%.

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.