Excelerate Energy (NYSE:EE) Shares Gap Down Following Weak Earnings

Excelerate Energy, Inc. (NYSE:EE)’s stock price gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $34.34, but opened at $30.99. Excelerate Energy shares last traded at $31.6470, with a volume of 59,571 shares traded.

The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). Excelerate Energy had a net margin of 3.19% and a return on equity of 4.12%. The business had revenue of $433.44 billion during the quarter, compared to analyst estimates of $351.68 billion. During the same quarter in the prior year, the business earned $0.49 earnings per share. The firm’s revenue was up 37.6% compared to the same quarter last year.

Excelerate Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Wednesday, May 20th will be given a dividend of $0.08 per share. The ex-dividend date is Wednesday, May 20th. This represents a $0.32 annualized dividend and a dividend yield of 1.0%. Excelerate Energy’s dividend payout ratio (DPR) is 24.24%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on EE shares. Wall Street Zen cut Excelerate Energy from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. Jefferies Financial Group lifted 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. Wells Fargo & Company lifted their price target on Excelerate Energy from $29.00 to $39.00 and gave the company an “equal weight” rating in a research report on Friday, February 27th. Northland Securities set a $50.00 price target on Excelerate Energy in a research report on Friday, January 30th. Finally, Zacks Research lowered Excelerate Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

Insider Buying and Selling at Excelerate Energy

In other news, insider Oliver Simpson sold 6,000 shares of the firm’s stock in a transaction on Friday, March 20th. The stock was sold at an average price of $34.15, for a total value of $204,900.00. Following the completion of the sale, the insider owned 51,719 shares of the company’s stock, valued at $1,766,203.85. This trade represents a 10.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.83% of the stock is currently owned by corporate insiders.

Institutional Trading of Excelerate Energy

Hedge funds and other institutional investors have recently modified their holdings of the business. Arax Advisory Partners boosted its position in shares of Excelerate Energy by 791.9% in the fourth quarter. Arax Advisory Partners now owns 883 shares of the company’s stock worth $25,000 after buying an additional 784 shares during the period. Global Retirement Partners LLC acquired a new stake in Excelerate Energy during the fourth quarter valued at $33,000. State of Alaska Department of Revenue acquired a new stake in Excelerate Energy during the third quarter valued at $30,000. Essex Investment Management Co. LLC acquired a new stake in Excelerate Energy during the fourth quarter valued at $41,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Excelerate Energy during the third quarter valued at $38,000. Institutional investors and hedge funds own 21.79% of the company’s stock.

Excelerate Energy Trading Down 6.8%

The stock has a market cap of $3.65 billion, a price-to-earnings ratio of 24.32, a PEG ratio of 1.18 and a beta of 1.32. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.54. The business has a 50-day moving average of $35.07 and a 200-day moving average of $32.18.

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.