Excelerate Energy (NYSE:EE) Announces Earnings Results

Excelerate Energy (NYSE:EE) issued its earnings results on Wednesday. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.02), Zacks reports. The firm had revenue of $433.44 million during the quarter, compared to analysts’ expectations of $351.68 million. Excelerate Energy had a return on equity of 3.85% and a net margin of 2.98%.The firm’s quarterly revenue was up 37.6% on a year-over-year basis. During the same period last year, the firm posted $0.49 earnings per share.

Excelerate Energy Stock Performance

NYSE:EE traded up $0.73 during trading hours on Friday, reaching $33.79. The company had a trading volume of 536,023 shares, compared to its average volume of 374,377. The company has a current ratio of 2.60, a quick ratio of 2.43 and a debt-to-equity ratio of 0.53. Excelerate Energy has a 52 week low of $21.28 and a 52 week high of $43.17. The firm has a market cap of $3.85 billion, a price-to-earnings ratio of 27.47, a PEG ratio of 1.10 and a beta of 1.32. The firm’s 50 day moving average price is $34.88 and its 200-day moving average price is $32.22.

Excelerate Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Wednesday, May 20th will be issued a $0.08 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $0.32 annualized dividend and a yield of 0.9%. Excelerate Energy’s dividend payout ratio (DPR) is currently 26.02%.

Insider Buying and Selling at Excelerate Energy

In other news, insider Oliver Simpson sold 6,000 shares of the stock in a transaction on Friday, March 20th. The stock was sold at an average price of $34.15, for a total transaction of $204,900.00. Following the transaction, the insider directly owned 51,719 shares of the company’s stock, valued at $1,766,203.85. This represents a 10.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.83% of the stock is owned by insiders.

Institutional Trading of Excelerate Energy

Large investors have recently modified their holdings of the company. XTX Topco Ltd bought a new position in Excelerate Energy in the fourth quarter valued at about $1,290,000. Wellington Management Group LLP grew its stake in shares of Excelerate Energy by 24.9% during the 4th quarter. Wellington Management Group LLP now owns 3,607,182 shares of the company’s stock valued at $101,181,000 after purchasing an additional 719,148 shares during the period. Susquehanna Portfolio Strategies LLC bought a new stake in shares of Excelerate Energy during the 4th quarter valued at about $1,853,000. Man Group plc purchased a new stake in shares of Excelerate Energy during the 4th quarter valued at about $661,000. Finally, Boothbay Fund Management LLC increased its position in shares of Excelerate Energy by 42.0% during the 4th quarter. Boothbay Fund Management LLC now owns 136,026 shares of the company’s stock valued at $3,816,000 after purchasing an additional 40,254 shares during the last quarter. Institutional investors own 21.79% of the company’s stock.

Wall Street Analysts Forecast Growth

EE has been the subject of several analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Excelerate Energy in a research report on Friday, March 27th. Dnb Carnegie cut Excelerate Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 19th. Wells Fargo & Company cut their target price on Excelerate Energy from $39.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Friday. Jefferies Financial Group boosted their price target on Excelerate Energy from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Finally, Barclays increased their price objective on Excelerate Energy from $33.00 to $41.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.56.

About Excelerate Energy

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.