Teacher Retirement System of Texas Sells 22,179 Shares of Excelerate Energy, Inc. $EE

Teacher Retirement System of Texas reduced its stake in shares of Excelerate Energy, Inc. (NYSE:EE) by 44.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 27,362 shares of the company’s stock after selling 22,179 shares during the period. Teacher Retirement System of Texas’ holdings in Excelerate Energy were worth $802,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. TimesSquare Capital Management LLC increased its position in shares of Excelerate Energy by 4.4% during the first quarter. TimesSquare Capital Management LLC now owns 478,093 shares of the company’s stock worth $13,712,000 after acquiring an additional 20,095 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Excelerate Energy by 27.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 442,764 shares of the company’s stock worth $12,698,000 after purchasing an additional 95,565 shares during the period. Russell Investments Group Ltd. increased its holdings in Excelerate Energy by 45.9% during the 1st quarter. Russell Investments Group Ltd. now owns 435,948 shares of the company’s stock worth $12,503,000 after purchasing an additional 137,120 shares in the last quarter. Millennium Management LLC raised its stake in shares of Excelerate Energy by 26.8% in the 1st quarter. Millennium Management LLC now owns 415,206 shares of the company’s stock valued at $11,908,000 after purchasing an additional 87,672 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Excelerate Energy in the 1st quarter valued at about $7,102,000. Institutional investors and hedge funds own 21.79% of the company’s stock.

Excelerate Energy Price Performance

NYSE:EE opened at $27.55 on Friday. The stock has a market capitalization of $3.14 billion, a PE ratio of 19.13 and a beta of 1.38. Excelerate Energy, Inc. has a 1-year low of $21.28 and a 1-year high of $32.99. The firm has a fifty day simple moving average of $25.53 and a 200 day simple moving average of $26.60. The company has a current ratio of 2.39, a quick ratio of 2.60 and a debt-to-equity ratio of 0.56.

Excelerate Energy (NYSE:EE) last posted its quarterly 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. The firm had revenue of $245.16 million for the quarter, compared to analyst estimates of $270.82 million. Excelerate Energy had a net margin of 3.46% and a return on equity of 4.34%. Excelerate Energy’s revenue for the quarter was up 102.2% compared to the same quarter last year. On average, research analysts expect that Excelerate Energy, Inc. will post 1.16 EPS for the current fiscal year.

Excelerate Energy Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on EE shares. JPMorgan Chase & Co. began coverage on Excelerate Energy in a research report on Monday, September 8th. They set a “neutral” rating and a $30.00 price objective for the company. Morgan Stanley set a $30.00 price target on Excelerate Energy and gave the stock an “equal weight” rating in a research report on Thursday. Citigroup reiterated an “outperform” rating on shares of Excelerate Energy in a report on Wednesday, August 13th. Jefferies Financial Group set a $37.00 target price on shares of Excelerate Energy and gave the stock a “buy” rating in a report on Tuesday, October 28th. Finally, Wells Fargo & Company set a $26.00 target price on shares of Excelerate Energy in a research report on Monday, August 11th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.38.

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.