Contravisory Investment Management Inc. Acquires Shares of 11,302 Excelerate Energy, Inc. (NYSE:EE)

Contravisory Investment Management Inc. purchased a new stake in Excelerate Energy, Inc. (NYSE:EE) in the 4th quarter, Holdings Channel reports. The fund purchased 11,302 shares of the company’s stock, valued at approximately $342,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Quarry LP raised its holdings in 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 acquiring an additional 409 shares during the last quarter. Quantbot Technologies LP purchased a new position in Excelerate Energy in the 3rd quarter worth approximately $94,000. US Bancorp DE acquired a new stake in Excelerate Energy in the third quarter valued at approximately $130,000. SG Americas Securities LLC purchased a new stake in shares of Excelerate Energy during the third quarter valued at approximately $161,000. Finally, Janus Henderson Group PLC acquired a new position in Excelerate Energy in the 3rd quarter worth $200,000. Institutional investors and hedge funds own 21.79% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on EE. Morgan Stanley raised their price objective on shares of Excelerate Energy from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Northland Securities raised their price target 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. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $31.00 price objective (up previously from $22.00) on shares of Excelerate Energy in a research report on Tuesday, January 7th. Barclays raised their price target on Excelerate Energy from $26.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Wells Fargo & Company lifted their price target on Excelerate Energy from $19.00 to $22.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $29.43.

Excelerate Energy Stock Performance

EE opened at $32.13 on Friday. Excelerate Energy, Inc. has a 12-month low of $13.38 and a 12-month high of $32.26. The stock’s 50 day moving average price is $29.94 and its two-hundred day moving average price is $23.83. The firm has a market capitalization of $3.41 billion, a P/E ratio of 32.45, a price-to-earnings-growth ratio of 1.81 and a beta of 1.42. The company has a quick ratio of 4.12, a current ratio of 4.12 and a debt-to-equity ratio of 0.34.

Excelerate Energy (NYSE:EE) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The company had revenue of $193.42 million during the quarter, compared to analysts’ expectations of $194.09 million. Excelerate Energy had a net margin of 3.14% and a return on equity of 1.39%. During the same quarter in the prior year, the company posted $0.40 EPS. On average, equities analysts forecast that Excelerate Energy, Inc. will post 1.23 earnings per share for the current year.

Excelerate Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Wednesday, November 20th were paid a $0.06 dividend. The ex-dividend date was Wednesday, November 20th. This is an increase from Excelerate Energy’s previous quarterly dividend of $0.03. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.75%. Excelerate Energy’s payout ratio is currently 24.24%.

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.