Massachusetts Financial Services Co. MA Purchases New Stake in Excelerate Energy, Inc. (NYSE:EE)

Massachusetts Financial Services Co. MA acquired a new position in shares of Excelerate Energy, Inc. (NYSE:EE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 85,081 shares of the company’s stock, valued at approximately $1,569,000. Massachusetts Financial Services Co. MA owned about 0.08% of Excelerate Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Ranger Investment Management L.P. raised its position in shares of Excelerate Energy by 0.5% during the 4th quarter. Ranger Investment Management L.P. now owns 1,609,580 shares of the company’s stock valued at $24,884,000 after buying an additional 7,815 shares during the period. Tortoise Capital Advisors L.L.C. raised its position in Excelerate Energy by 10.1% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 814,090 shares of the company’s stock valued at $15,012,000 after purchasing an additional 74,946 shares during the period. Scout Investments Inc. lifted its stake in shares of Excelerate Energy by 1.1% in the 1st quarter. Scout Investments Inc. now owns 253,480 shares of the company’s stock valued at $4,020,000 after purchasing an additional 2,673 shares during the last quarter. Viking Fund Management LLC grew its holdings in shares of Excelerate Energy by 40.0% during the 1st quarter. Viking Fund Management LLC now owns 140,000 shares of the company’s stock worth $2,243,000 after purchasing an additional 40,000 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Excelerate Energy during the 1st quarter worth about $2,202,000. 21.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Wells Fargo & Company cut shares of Excelerate Energy from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $20.00 to $19.00 in a research report on Friday, August 30th. Northland Securities increased their price objective on shares of Excelerate Energy from $23.00 to $25.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. Finally, Stephens reiterated an “overweight” rating and issued a $21.00 target price on shares of Excelerate Energy in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued 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 $22.00.

Excelerate Energy Price Performance

Excelerate Energy stock opened at $20.84 on Monday. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 0.35. Excelerate Energy, Inc. has a 52-week low of $13.38 and a 52-week high of $21.09. The firm has a market cap of $2.23 billion, a PE ratio of 20.63 and a beta of 1.29. The company’s 50 day moving average is $19.24 and its two-hundred day moving average is $17.85.

Excelerate Energy (NYSE:EE) last released its earnings results on Wednesday, August 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). Excelerate Energy had a net margin of 3.40% and a return on equity of 1.68%. The company had revenue of $183.33 million during the quarter, compared to analysts’ expectations of $259.14 million. During the same quarter last year, the business posted $0.23 earnings per share. On average, research analysts expect that Excelerate Energy, Inc. will post 1.14 EPS for the current fiscal year.

Excelerate Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were paid a dividend of $0.025 per share. The ex-dividend date was Wednesday, August 21st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.48%. Excelerate Energy’s payout ratio is 9.90%.

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.