Excelerate Energy (NYSE:EE) Insider Sells 6,269 Shares of Stock

Excelerate Energy, Inc. (NYSE:EE) insider Hood Alisa Newman sold 6,269 shares of the company’s stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $38.29, for a total transaction of $240,040.01. Following the transaction, the insider owned 32,827 shares of the company’s stock, valued at approximately $1,256,945.83. The trade was a 16.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Excelerate Energy Stock Performance

Shares of EE stock traded up $0.15 during mid-day trading on Thursday, hitting $38.17. The stock had a trading volume of 342,857 shares, compared to its average volume of 408,137. The firm has a market cap of $4.33 billion, a PE ratio of 26.14 and a beta of 1.23. The company’s 50-day simple moving average is $35.08 and its 200-day simple moving average is $36.10. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.95 and a quick ratio of 1.80. Excelerate Energy, Inc. has a fifty-two week low of $25.67 and a fifty-two week high of $43.17.

Excelerate Energy (NYSE:EE) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The business had revenue of $297.21 million for the quarter, compared to analyst estimates of $365.99 million. Excelerate Energy had a net margin of 3.47% and a return on equity of 2.13%. The business’s revenue was down 24.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.45 earnings per share. Sell-side analysts anticipate that Excelerate Energy, Inc. will post 1.62 earnings per share for the current year.

Excelerate Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Wednesday, November 18th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, November 18th. Excelerate Energy’s payout ratio is currently 24.66%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its holdings in Excelerate Energy by 26.8% in the second quarter. Wellington Management Group LLP now owns 3,339,759 shares of the company’s stock valued at $126,877,000 after buying an additional 705,587 shares in the last quarter. Copeland Capital Management LLC boosted its stake in shares of Excelerate Energy by 45.0% during the 1st quarter. Copeland Capital Management LLC now owns 1,584,618 shares of the company’s stock worth $52,958,000 after acquiring an additional 491,653 shares in the last quarter. Ranger Investment Management L.P. acquired a new stake in shares of Excelerate Energy in the 2nd quarter worth approximately $34,658,000. Renaissance Technologies LLC grew its holdings in shares of Excelerate Energy by 132.9% in the 1st quarter. Renaissance Technologies LLC now owns 285,519 shares of the company’s stock worth $9,542,000 after acquiring an additional 162,919 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Excelerate Energy by 0.3% in the 1st quarter. Bank of New York Mellon Corp now owns 195,532 shares of the company’s stock worth $6,535,000 after acquiring an additional 633 shares during the period. 21.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EE. Citigroup reissued an “outperform” rating on shares of Excelerate Energy in a research note on Wednesday, August 12th. The Goldman Sachs Group started coverage on Excelerate Energy in a research note on Wednesday, July 15th. They issued a “buy” rating and a $49.00 price target on the stock. Raymond James Financial reaffirmed a “strong-buy” rating and set a $50.00 price objective on shares of Excelerate Energy in a report on Monday, September 21st. Dnb Carnegie raised Excelerate Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 28th. Finally, DNB Markets set a $39.00 price objective on Excelerate Energy in a research report on Wednesday, October 28th. Four research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $44.20.

Excelerate Energy Company Profile

Excelerate Energy, Inc. is an energy company focused on liquefied natural gas (LNG) infrastructure and delivery. Its services include LNG transportation and supply, floating storage and regasification units (FSRUs), and the development and operation of LNG terminals that connect imported gas to local energy markets. Founded in 2003, the company helped establish the use of FSRUs as a flexible alternative to land-based LNG import terminals. Excelerate serves customers in multiple regions, including Europe, Asia, and South America, supporting countries seeking to diversify gas supplies or expand access to natural gas.