Excelerate Energy (NYSE:EE) Shares Gap Down Following Weak Earnings

Excelerate Energy, Inc. (NYSE:EE)’s share price gapped down prior to trading on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $42.89, but opened at $39.71. Excelerate Energy shares last traded at $41.0210, with a volume of 89,017 shares changing hands.

The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). Excelerate Energy had a return on equity of 4.18% and a net margin of 3.19%.The company had revenue of $317.57 million for the quarter, compared to analysts’ expectations of $293.49 million. During the same period in the prior year, the firm posted $0.40 EPS. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis.

Excelerate Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Wednesday, March 11th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, March 11th. Excelerate Energy’s dividend payout ratio is presently 24.24%.

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Excelerate Energy in a research note on Monday, December 29th. Wall Street Zen lowered shares of Excelerate Energy from a “buy” rating to a “hold” rating in a research report on Saturday. Jefferies Financial Group upped their price objective on shares of Excelerate Energy from $37.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Raymond James Financial raised 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 report on Monday, January 5th. Finally, Tudor Pickering raised shares of Excelerate Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 17th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Excelerate Energy has a consensus rating of “Moderate Buy” and an average target price of $38.44.

Hedge Funds Weigh In On Excelerate Energy

Several institutional investors and hedge funds have recently modified their holdings of EE. Arax Advisory Partners grew its holdings 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 purchasing an additional 784 shares during the period. AlphaQuest LLC purchased a new position in shares of Excelerate Energy during the 2nd quarter valued at approximately $30,000. State of Alaska Department of Revenue acquired a new stake in Excelerate Energy in the 3rd quarter valued at $30,000. Global Retirement Partners LLC purchased a new stake in Excelerate Energy in the 4th quarter worth $33,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in Excelerate Energy during the third quarter worth $38,000. Hedge funds and other institutional investors own 21.79% of the company’s stock.

Excelerate Energy Trading Up 2.0%

The company’s fifty day simple moving average is $34.79 and its 200-day simple moving average is $28.99. The firm has a market capitalization of $4.60 billion, a PE ratio of 30.55, a P/E/G ratio of 1.23 and a beta of 1.36. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.39 and a quick ratio of 2.39.

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.