Excelerate Energy (NYSE:EE) Shares Gap Down – Here’s What Happened

Excelerate Energy, Inc. (NYSE:EE) shares gapped down before the market opened on Tuesday . The stock had previously closed at $28.68, but opened at $27.00. Excelerate Energy shares last traded at $27.04, with a volume of 1,255,926 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Barclays raised their target price on Excelerate Energy from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Friday, February 28th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $31.00 price target (up previously from $22.00) on shares of Excelerate Energy in a research report on Tuesday, January 7th. Stephens reiterated an “overweight” rating and issued a $36.00 price objective on shares of Excelerate Energy in a research report on Monday, March 3rd. Wells Fargo & Company reissued an “underweight” rating on shares of Excelerate Energy in a report on Friday, March 28th. Finally, Northland Securities upped their target price on Excelerate Energy from $29.00 to $37.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th. Three equities research analysts have rated the stock with a sell rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $31.17.

Excelerate Energy Trading Up 0.3 %

The company has a current ratio of 4.12, a quick ratio of 4.12 and a debt-to-equity ratio of 0.34. The company has a market cap of $2.83 billion, a P/E ratio of 27.00, a price-to-earnings-growth ratio of 5.82 and a beta of 1.39. The firm has a 50-day moving average of $29.44 and a 200 day moving average of $27.93.

Excelerate Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 12th were paid a dividend of $0.06 per share. The ex-dividend date was Wednesday, March 12th. This represents a $0.24 dividend on an annualized basis and a yield of 0.90%. Excelerate Energy’s dividend payout ratio (DPR) is presently 19.20%.

Institutional Trading of Excelerate Energy

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP bought a new stake in Excelerate Energy in the 3rd quarter valued at about $94,000. FMR LLC boosted its holdings in Excelerate Energy by 134.2% during the 3rd quarter. FMR LLC now owns 23,134 shares of the company’s stock valued at $509,000 after acquiring an additional 13,257 shares during the period. Martingale Asset Management L P boosted its stake in shares of Excelerate Energy by 39.8% during the third quarter. Martingale Asset Management L P now owns 27,690 shares of the company’s stock valued at $609,000 after purchasing an additional 7,880 shares during the period. Verition Fund Management LLC increased its holdings in Excelerate Energy by 27.8% during the 3rd quarter. Verition Fund Management LLC now owns 17,724 shares of the company’s stock valued at $390,000 after purchasing an additional 3,855 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Excelerate Energy during the 3rd quarter worth approximately $4,385,000. Hedge funds and other institutional investors own 21.79% of the company’s stock.

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.