Excelerate Energy (NYSE:EE) Issues Earnings Results, Meets Estimates

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

Excelerate Energy Trading Up 0.9%

NYSE EE traded up $0.40 on Wednesday, hitting $42.84. The company’s stock had a trading volume of 312,212 shares, compared to its average volume of 386,798. The firm has a market cap of $4.89 billion, a P/E ratio of 29.75, a PEG ratio of 1.35 and a beta of 1.36. Excelerate Energy has a 52-week low of $21.28 and a 52-week high of $43.07. The company’s 50-day simple moving average is $33.92 and its 200 day simple moving average is $28.70. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 0.56.

Excelerate Energy Dividend Announcement

The firm also recently declared 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 of this dividend is Wednesday, March 11th. This represents a $0.32 dividend on an annualized basis and a yield of 0.7%. Excelerate Energy’s dividend payout ratio is presently 22.22%.

Analyst Ratings Changes

Several research analysts have recently commented on EE shares. Jefferies Financial Group lifted their price objective on Excelerate Energy from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Dnb Carnegie lowered Excelerate Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 19th. Northland Securities set a $50.00 price target on Excelerate Energy in a research note on Friday, January 30th. Wall Street Zen upgraded Excelerate Energy from a “hold” rating to a “buy” rating in a research report on Sunday, January 11th. Finally, Raymond James Financial upgraded shares of Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 target price on the stock in a report on Monday, January 5th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Excelerate Energy currently has an average rating of “Moderate Buy” and an average price target of $36.50.

Hedge Funds Weigh In On Excelerate Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP lifted its stake in Excelerate Energy by 24.9% in the fourth quarter. Wellington Management Group LLP now owns 3,607,182 shares of the company’s stock worth $101,181,000 after acquiring an additional 719,148 shares during the period. Geode Capital Management LLC raised its holdings in Excelerate Energy by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 634,272 shares of the company’s stock worth $17,794,000 after purchasing an additional 13,761 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in shares of Excelerate Energy by 30.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 592,505 shares of the company’s stock worth $14,925,000 after purchasing an additional 139,160 shares during the period. State Street Corp lifted its position in shares of Excelerate Energy by 1.0% in the 4th quarter. State Street Corp now owns 521,946 shares of the company’s stock worth $14,641,000 after purchasing an additional 5,184 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Excelerate Energy by 26.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 507,941 shares of the company’s stock valued at $14,248,000 after purchasing an additional 105,710 shares in the last quarter. Institutional investors own 21.79% of the company’s stock.

Excelerate Energy declared that its board has approved a share repurchase plan on Thursday, December 11th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

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.