Excelerate Energy (NYSE:EE) Issues Earnings Results

Excelerate Energy (NYSE:EE) issued its quarterly earnings data on Wednesday. The company reported $0.29 EPS for the quarter, hitting the consensus estimate of $0.29, Zacks reports. Excelerate Energy had a return on equity of 4.34% and a net margin of 3.46%.

Excelerate Energy Price Performance

EE stock traded up $0.40 during mid-day trading on Wednesday, hitting $42.84. 312,212 shares of the stock were exchanged, compared to its average volume of 386,798. 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 market capitalization of $4.89 billion, a price-to-earnings ratio of 29.75, a PEG ratio of 1.35 and a beta of 1.36. The business has a fifty day moving average price of $33.92 and a 200 day moving average price of $28.70. Excelerate Energy has a 12 month low of $21.28 and a 12 month high of $43.07.

Excelerate Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Wednesday, March 11th will be given a dividend of $0.08 per share. The ex-dividend date is Wednesday, March 11th. This represents a $0.32 annualized dividend and a yield of 0.7%. Excelerate Energy’s payout ratio is presently 22.22%.

Institutional Investors Weigh In On Excelerate Energy

A number of hedge funds have recently made changes to their positions in the business. Sei Investments Co. lifted its stake in Excelerate Energy by 21.8% in the second quarter. Sei Investments Co. now owns 11,672 shares of the company’s stock worth $342,000 after purchasing an additional 2,089 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new position in shares of Excelerate Energy in the fourth quarter worth about $320,000. Boothbay Fund Management LLC bought a new stake in shares of Excelerate Energy in the 2nd quarter valued at about $310,000. The Manufacturers Life Insurance Company bought a new stake in shares of Excelerate Energy in the 2nd quarter valued at about $245,000. Finally, Lazard Asset Management LLC purchased a new stake in Excelerate Energy during the 4th quarter valued at about $222,000. 21.79% of the stock is currently owned by institutional investors.

Excelerate Energy declared that its board has approved a share buyback plan on Thursday, December 11th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

EE has been the subject of several recent analyst reports. Raymond James Financial upgraded shares of Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 target price for the company in a research note on Monday, January 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Excelerate Energy in a research report on Friday, February 6th. Wall Street Zen raised shares of Excelerate Energy from a “hold” rating to a “buy” rating in a research report on Sunday, January 11th. Northland Securities set a $50.00 target price on Excelerate Energy in a research note on Friday, January 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Excelerate Energy in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $36.50.

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.