Excelerate Energy (NYSE:EE) Shares Gap Down on Disappointing Earnings

Shares of Excelerate Energy, Inc. (NYSE:EE) gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $42.89, but opened at $39.71. Excelerate Energy shares last traded at $41.0210, with a volume of 89,017 shares changing hands.

The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Excelerate Energy had a return on equity of 4.18% and a net margin of 3.19%.The company had revenue of $317.57 million during the quarter, compared to the consensus estimate of $293.49 million. During the same quarter last year, the firm posted $0.40 EPS. The firm’s quarterly revenue was up 15.6% on a year-over-year basis.

Excelerate Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Wednesday, March 11th. Excelerate Energy’s dividend payout ratio is 24.24%.

Excelerate Energy declared that its Board of Directors has approved a stock repurchase program on Thursday, December 11th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

EE has been the topic of several research reports. Morgan Stanley upped their price objective on Excelerate Energy from $30.00 to $40.00 and gave the company an “equal weight” rating in a research note on Tuesday. Northland Securities set a $50.00 price target on Excelerate Energy in a report on Friday, January 30th. Jefferies Financial Group upped their price target on Excelerate Energy from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Wall Street Zen downgraded shares of Excelerate Energy from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $44.00 target price on shares of Excelerate Energy in a research note on Friday, February 6th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Excelerate Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.44.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Copeland Capital Management LLC acquired a new stake in shares of Excelerate Energy in the 4th quarter worth about $30,658,000. Wellington Management Group LLP grew its position in Excelerate Energy by 24.9% in the 4th quarter. Wellington Management Group LLP now owns 3,607,182 shares of the company’s stock worth $101,181,000 after purchasing an additional 719,148 shares during the last quarter. Kayne Anderson Capital Advisors LP bought a new position in Excelerate Energy in the 2nd quarter worth about $12,926,000. Qube Research & Technologies Ltd increased its stake in shares of Excelerate Energy by 328.4% in the second quarter. Qube Research & Technologies Ltd now owns 453,345 shares of the company’s stock valued at $13,292,000 after purchasing an additional 347,521 shares during the period. Finally, Squarepoint Ops LLC raised its holdings in shares of Excelerate Energy by 219.5% during the third quarter. Squarepoint Ops LLC now owns 348,394 shares of the company’s stock valued at $8,776,000 after buying an additional 239,358 shares during the last quarter. 21.79% of the stock is currently owned by institutional investors.

Excelerate Energy Stock Performance

The company has a debt-to-equity ratio of 0.56, a current ratio of 2.39 and a quick ratio of 2.39. The stock has a fifty day moving average price of $34.79 and a two-hundred day moving average price of $28.99. The company has a market cap of $4.60 billion, a P/E ratio of 30.55, a PEG ratio of 1.23 and a beta of 1.36.

Excelerate Energy Company Profile

Excelerate Energy (NYSE: EE) is a Houston?based energy infrastructure company specializing in liquefied natural gas (LNG) solutions. The company develops, owns and operates floating regasification units (FSRUs) that convert shipped LNG into natural gas for delivery into existing pipeline networks. Excelerate Energy’s integrated platform also includes specialized LNG carriers, proprietary regasification technology and on?shore support facilities, enabling rapid deployment of import terminals without extensive capital construction.

Founded in the early 2000s, Excelerate Energy pioneered the first FSRU in 2007, demonstrating the flexibility and cost advantages of floating LNG import infrastructure.