Ranger Investment Management L.P. Has $48.55 Million Stock Position in Excelerate Energy, Inc. $EE

by · The Markets Daily

Ranger Investment Management L.P. lowered its stake in shares of Excelerate Energy, Inc. (NYSE:EE – Free Report) by 2.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,655,815 shares of the company’s stock after selling 47,185 shares during the period. Excelerate Energy makes up approximately 3.4% of Ranger Investment Management L.P.’s holdings, making the stock its 3rd biggest position. Ranger Investment Management L.P.’s holdings in Excelerate Energy were worth $48,548,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in EE. Rhumbline Advisers raised its holdings in shares of Excelerate Energy by 1.5% during the first quarter. Rhumbline Advisers now owns 31,903 shares of the company’s stock valued at $915,000 after purchasing an additional 471 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Excelerate Energy by 31.3% in the second quarter. Ameritas Investment Partners Inc. now owns 2,352 shares of the company’s stock worth $69,000 after purchasing an additional 561 shares during the last quarter. Legal & General Group Plc grew its position in Excelerate Energy by 3.6% in the 2nd quarter. Legal & General Group Plc now owns 19,317 shares of the company’s stock worth $566,000 after purchasing an additional 670 shares during the period. Quarry LP raised its stake in Excelerate Energy by 89.6% during the 1st quarter. Quarry LP now owns 1,997 shares of the company’s stock valued at $57,000 after buying an additional 944 shares during the last quarter. Finally, AlphaQuest LLC bought a new position in shares of Excelerate Energy during the 2nd quarter valued at $30,000. Hedge funds and other institutional investors own 21.79% of the company’s stock.

Excelerate Energy Stock Up 1.0%

EE stock opened at $27.31 on Friday. The business’s 50-day moving average price is $27.12 and its 200-day moving average price is $26.57. The stock has a market cap of $3.11 billion, a P/E ratio of 18.96, a PEG ratio of 1.24 and a beta of 1.36. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 0.56. Excelerate Energy, Inc. has a twelve month low of $21.28 and a twelve month high of $32.99.

Excelerate Energy (NYSE:EE – Get Free Report) last released its earnings results on Wednesday, November 5th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.13. Excelerate Energy had a net margin of 3.46% and a return on equity of 4.34%. The company had revenue of $391.04 million during the quarter, compared to analyst estimates of $270.82 million. The firm’s quarterly revenue was up 102.2% compared to the same quarter last year. On average, equities research analysts forecast that Excelerate Energy, Inc. will post 1.16 EPS for the current year.

Excelerate Energy announced that its Board of Directors has initiated a share buyback program on Thursday, December 11th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the company to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Excelerate Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Wednesday, November 19th were paid a dividend of $0.08 per share. The ex-dividend date was Wednesday, November 19th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.2%. Excelerate Energy’s payout ratio is 22.22%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Jefferies Financial Group set a $37.00 price objective on Excelerate Energy and gave the stock a “buy” rating in a report on Tuesday, October 28th. JPMorgan Chase & Co. initiated coverage on Excelerate Energy in a research note on Monday, September 8th. They set a “neutral” rating and a $30.00 price target for the company. Tudor Pickering raised shares of Excelerate Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Excelerate Energy in a report on Monday, December 8th. Finally, DNB Markets set a $31.00 target price on shares of Excelerate Energy in a research report on Wednesday, September 10th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Excelerate Energy has a consensus rating of “Moderate Buy” and an average target price of $32.38.

Get Our Latest Analysis on EE

About Excelerate Energy

(Free Report)

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.

Further Reading

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