Excelerate Energy (NYSE:EE) Shares Down 5.7% – Should You Sell?

Excelerate Energy, Inc. (NYSE:EE) shares were down 5.7% during mid-day trading on Monday . The stock traded as low as $33.95 and last traded at $33.98. Approximately 242,940 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 409,682 shares. The stock had previously closed at $36.02.

Analyst Upgrades and Downgrades

EE has been the topic of several research analyst reports. Zacks Research upgraded shares of Excelerate Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 14th. Jefferies Financial Group reissued a “buy” rating and set a $48.00 price objective on shares of Excelerate Energy in a research report on Friday, July 10th. Citigroup restated an “outperform” rating on shares of Excelerate Energy in a report on Wednesday, August 12th. Stephens reaffirmed an “overweight” rating and issued a $45.00 target price on shares of Excelerate Energy in a research note on Thursday, July 9th. Finally, Wells Fargo & Company increased their target price on Excelerate Energy from $37.00 to $38.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 12th. Three investment 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $44.56.

Excelerate Energy Stock Down 5.8%

The firm has a fifty day moving average of $38.29 and a 200-day moving average of $36.10. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.52. The firm has a market cap of $3.85 billion, a P/E ratio of 23.28 and a beta of 1.22.

Excelerate Energy (NYSE:EE) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. Excelerate Energy had a return on equity of 2.24% and a net margin of 3.23%.The firm had revenue of $329.27 million for the quarter, compared to analyst estimates of $344.27 million. During the same quarter in the previous year, the firm earned $0.34 EPS. The business’s quarterly revenue was up 60.9% on a year-over-year basis. On average, equities research analysts anticipate that Excelerate Energy, Inc. will post 1.57 earnings per share for the current year.

Excelerate Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Wednesday, August 19th were issued a dividend of $0.09 per share. The ex-dividend date was Wednesday, August 19th. This is a positive change from Excelerate Energy’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 1.1%. Excelerate Energy’s dividend payout ratio is presently 24.83%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp grew its stake in Excelerate Energy by 0.3% during the first quarter. Bank of New York Mellon Corp now owns 195,532 shares of the company’s stock worth $6,535,000 after buying an additional 633 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Excelerate Energy by 6.7% in the 1st quarter. Quantinno Capital Management LP now owns 11,025 shares of the company’s stock valued at $368,000 after purchasing an additional 690 shares in the last quarter. Swiss National Bank increased its stake in shares of Excelerate Energy by 1.9% in the 1st quarter. Swiss National Bank now owns 47,500 shares of the company’s stock valued at $1,587,000 after purchasing an additional 900 shares during the last quarter. Nykredit A S acquired a new position in shares of Excelerate Energy during the 2nd quarter worth $70,000. Finally, HITE Hedge Asset Management LLC lifted its position in shares of Excelerate Energy by 1.1% during the 4th quarter. HITE Hedge Asset Management LLC now owns 191,930 shares of the company’s stock worth $5,384,000 after buying an additional 2,120 shares during the last quarter. Institutional investors own 21.79% of the company’s stock.

Excelerate Energy Company Profile

Excelerate Energy, Inc is an integrated liquefied natural gas (LNG) company that provides flexible LNG delivery and regasification solutions. The company specializes in floating storage and regasification units (FSRUs), which receive, store and convert LNG into natural gas for delivery into pipeline networks.

Its services include LNG procurement and transportation, FSRU operations, regasification, terminal management and related infrastructure development. Excelerate also develops and operates offshore and nearshore LNG import facilities designed to help customers access natural gas without relying solely on large, land-based terminals.

Founded in 2003, Excelerate has supported LNG import and energy-infrastructure projects in markets including Bangladesh, Brazil, Argentina, Finland and other regions.