Summit Global Investments Invests $374,000 in Excelerate Energy, Inc. (NYSE:EE)

Summit Global Investments acquired a new stake in Excelerate Energy, Inc. (NYSE:EE) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 12,374 shares of the company’s stock, valued at approximately $374,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. SBI Securities Co. Ltd. acquired a new stake in shares of Excelerate Energy in the 4th quarter valued at approximately $27,000. Quarry LP grew its stake in shares of Excelerate Energy by 28.9% during the third quarter. Quarry LP now owns 1,822 shares of the company’s stock worth $40,000 after buying an additional 409 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Excelerate Energy during the third quarter worth $94,000. Janus Henderson Group PLC acquired a new stake in shares of Excelerate Energy during the 3rd quarter valued at $200,000. Finally, Cable Hill Partners LLC bought a new stake in Excelerate Energy during the 4th quarter worth $202,000. Institutional investors own 21.79% of the company’s stock.

Excelerate Energy Stock Up 5.4 %

Shares of Excelerate Energy stock opened at $30.75 on Tuesday. The stock’s 50-day moving average is $29.84 and its 200 day moving average is $27.47. Excelerate Energy, Inc. has a one year low of $14.94 and a one year high of $32.99. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 31.06, a PEG ratio of 5.82 and a beta of 1.39. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.12 and a quick ratio of 4.12.

Excelerate Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Wednesday, March 12th. Excelerate Energy’s dividend payout ratio (DPR) is 19.20%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Northland Securities lifted their price target on Excelerate Energy from $29.00 to $37.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Barclays raised their price target on shares of Excelerate Energy from $31.00 to $32.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $31.00 target price (up from $22.00) on shares of Excelerate Energy in a research report on Tuesday, January 7th. Morgan Stanley reiterated an “underweight” rating and issued a $29.00 price target (up previously from $25.00) on shares of Excelerate Energy in a research report on Friday, January 31st. Finally, Stephens reaffirmed an “overweight” rating and issued a $36.00 price objective on shares of Excelerate Energy in a research note on Monday, March 3rd. Three investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $31.17.

Excelerate Energy Company 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.