Excelerate Energy's (NYSE:EE – Get Rating) lock-up period will end on Monday, October 10th. Excelerate Energy had issued 16,000,000 shares in its public offering on April 13th. The total size of the offering was $384,000,000 based on an initial share price of $24.00. After the expiration of Excelerate Energy's lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the company. Barclays raised their price target on Excelerate Energy to $30.00 in a report on Monday, August 15th. Wells Fargo & Company raised Excelerate Energy from an "equal weight" rating to an "overweight" rating and set a $29.00 price target for the company in a report on Tuesday, July 5th. Finally, StockNews.com raised Excelerate Energy from a "sell" rating to a "hold" rating in a report on Friday, August 19th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of 31.50.
Get Excelerate Energy alerts:Excelerate Energy Price Performance
Shares of EE stock opened at 23.40 on Monday. Excelerate Energy has a 12 month low of 18.31 and a 12 month high of 30.82. The company has a current ratio of 2.35, a quick ratio of 2.13 and a debt-to-equity ratio of 0.38. The stock has a 50-day moving average price of 24.76 and a 200 day moving average price of 30.68.
Excelerate Energy Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 7th. Shareholders of record on Friday, August 19th were given a dividend of $0.025 per share. The ex-dividend date was Thursday, August 18th. This represents a $0.10 dividend on an annualized basis and a yield of 0.43%.Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in EE. Strs Ohio acquired a new position in Excelerate Energy during the 2nd quarter valued at about $85,000. Cincinnati Insurance Co. acquired a new stake in shares of Excelerate Energy in the 2nd quarter valued at approximately $94,000. American International Group Inc. acquired a new stake in shares of Excelerate Energy in the 2nd quarter valued at approximately $173,000. Point72 Hong Kong Ltd acquired a new stake in shares of Excelerate Energy in the 2nd quarter valued at approximately $183,000. Finally, Jane Street Group LLC acquired a new stake in shares of Excelerate Energy in the 2nd quarter valued at approximately $258,000. 30.98% of the stock is currently owned by institutional investors and hedge funds.
Excelerate Energy Company Profile
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Excelerate Energy, Inc provides flexible liquefied natural gas (LNG) solutions worldwide. The company offers floating regasification services, including floating storage and regasification units (FSRUs), infrastructure development, and LNG and natural gas supply, procurement, and distribution services; LNG terminal services; natural gas supply to-power projects; and a suite of smaller-scale gas distribution solutions.
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