Excelerate Energy (NYSE:EE – Get Free Report) issued its quarterly earnings results on Wednesday. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02, FiscalAI reports. Excelerate Energy had a return on equity of 3.85% and a net margin of 2.98%.The business had revenue of $329.27 million for the quarter, compared to analyst estimates of $344.27 million. During the same period last year, the company posted $0.34 earnings per share. Excelerate Energy’s quarterly revenue was up 60.9% compared to the same quarter last year.
Excelerate Energy Price Performance
Shares of EE stock traded down $0.72 on Wednesday, hitting $38.48. 424,759 shares of the stock traded hands, compared to its average volume of 272,650. The firm has a market cap of $4.38 billion, a price-to-earnings ratio of 31.28, a PEG ratio of 1.43 and a beta of 1.22. Excelerate Energy has a 52 week low of $21.28 and a 52 week high of $43.17. The firm has a 50 day simple moving average of $36.60 and a two-hundred day simple moving average of $36.18. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.60 and a quick ratio of 2.60.
Excelerate Energy Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Wednesday, August 19th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.9%. This is a boost from Excelerate Energy’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, August 19th. Excelerate Energy’s dividend payout ratio is currently 26.02%.
Hedge Funds Weigh In On Excelerate Energy
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on EE. Weiss Ratings reissued a “hold (c)” rating on shares of Excelerate Energy in a report on Wednesday, June 24th. Zacks Research raised shares of Excelerate Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 14th. Wells Fargo & Company cut their price objective on Excelerate Energy from $39.00 to $37.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. Northland Securities set a $48.00 target price on shares of Excelerate Energy in a research report on Friday, May 15th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $42.00 target price on shares of Excelerate Energy in a research note on Friday, May 8th. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.64.
Check Out Our Latest Analysis on Excelerate Energy
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.
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