Excelerate Energy (NYSE:EE) Shares Gap Down – Time to Sell?

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 changing hands.

Wall Street Analyst Weigh In

EE has been the topic of several research analyst reports. Stephens reissued an “overweight” rating and set a $36.00 price target on shares of Excelerate Energy in a report on Monday, March 3rd. Wells Fargo & Company restated an “underweight” rating on shares of Excelerate Energy in a report on Friday, March 28th. Barclays boosted their price objective on Excelerate Energy from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Northland Securities raised their price target on Excelerate Energy from $29.00 to $37.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $29.00 price objective (up from $25.00) on shares of Excelerate Energy in a research note on Friday, January 31st. Three equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $31.17.

Excelerate Energy Stock Up 0.3 %

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

Excelerate Energy Dividend Announcement

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

Institutional Trading of Excelerate Energy

Several institutional investors have recently bought and sold shares of the business. Quantbot Technologies LP acquired a new position in Excelerate Energy during the third quarter worth 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 increased its position 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 worth $609,000 after acquiring an additional 7,880 shares during the period. Verition Fund Management LLC grew 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 worth $390,000 after acquiring an additional 3,855 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Excelerate Energy during the 3rd quarter worth about $4,385,000. 21.79% of the stock is owned by institutional investors and hedge funds.

About Excelerate Energy

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.