Excelerate Energy (NYSE:EE) Releases Earnings Results, Misses Expectations By $0.01 EPS

Excelerate Energy (NYSE:EE) announced its earnings results on Wednesday. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01), Zacks reports. The company had revenue of $317.57 million for the quarter, compared to analysts’ expectations of $293.49 million. Excelerate Energy had a net margin of 3.46% and a return on equity of 4.34%. The business’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.40 earnings per share.

Excelerate Energy Price Performance

Shares of NYSE:EE traded down $3.38 during midday trading on Thursday, hitting $39.52. The stock had a trading volume of 744,414 shares, compared to its average volume of 393,473. Excelerate Energy has a fifty-two week low of $21.28 and a fifty-two week high of $43.07. The company has a market capitalization of $4.51 billion, a P/E ratio of 27.44, a price-to-earnings-growth ratio of 1.35 and a beta of 1.36. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 0.56. The company’s 50-day moving average price is $34.25 and its 200-day moving average price is $28.80.

Excelerate Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, March 11th. Excelerate Energy’s payout ratio is presently 22.22%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Martingale Asset Management L P raised its holdings in shares of Excelerate Energy by 0.4% during the fourth quarter. Martingale Asset Management L P now owns 74,192 shares of the company’s stock valued at $2,081,000 after purchasing an additional 281 shares during the period. Legal & General Group Plc boosted its holdings in Excelerate Energy by 3.6% in the second quarter. Legal & General Group Plc now owns 19,317 shares of the company’s stock worth $566,000 after acquiring an additional 670 shares in the last quarter. Arax Advisory Partners grew its stake in Excelerate Energy by 791.9% in the fourth quarter. Arax Advisory Partners now owns 883 shares of the company’s stock valued at $25,000 after acquiring an additional 784 shares during the period. Global Retirement Partners LLC bought a new stake in shares of Excelerate Energy during the fourth quarter valued at approximately $33,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Excelerate Energy by 157.1% during the second quarter. Tower Research Capital LLC TRC now owns 1,941 shares of the company’s stock worth $57,000 after purchasing an additional 1,186 shares during the period. Institutional investors own 21.79% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on EE. Northland Securities set a $50.00 target price on shares of Excelerate Energy in a research report on Friday, January 30th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $44.00 price target on shares of Excelerate Energy in a research report on Friday, February 6th. Raymond James Financial raised Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 price target on the stock in a report on Monday, January 5th. Morgan Stanley upped their price objective on shares of Excelerate Energy from $30.00 to $40.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Wall Street Zen upgraded shares of Excelerate Energy from a “hold” rating to a “buy” rating in a research report on Sunday, January 11th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $36.50.

Excelerate Energy announced that its Board of Directors has initiated a stock repurchase plan on Thursday, December 11th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management 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.