Excelerate Energy, Inc. (NYSE:EE) Declares $0.06 Quarterly Dividend

Excelerate Energy, Inc. (NYSE:EE) announced a quarterly dividend on Thursday, May 1st, RTT News reports. Stockholders of record on Wednesday, May 21st will be given a dividend of 0.06 per share on Thursday, June 5th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Wednesday, May 21st.

Excelerate Energy has a dividend payout ratio of 14.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Excelerate Energy to earn $1.31 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 18.3%.

Excelerate Energy Trading Down 1.5%

NYSE EE opened at $28.80 on Monday. The stock has a market capitalization of $3.05 billion, a P/E ratio of 29.09, a PEG ratio of 5.82 and a beta of 1.39. Excelerate Energy has a 12 month low of $16.70 and a 12 month high of $32.99. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.12 and a quick ratio of 4.12. The firm’s 50-day moving average is $27.30 and its two-hundred day moving average is $28.89.

Excelerate Energy (NYSE:EE) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.10. Excelerate Energy had a return on equity of 1.39% and a net margin of 3.14%. The firm had revenue of $315.09 million during the quarter, compared to the consensus estimate of $207.87 million. Excelerate Energy’s quarterly revenue was up 14.8% on a year-over-year basis. On average, sell-side analysts anticipate that Excelerate Energy will post 1.16 earnings per share for the current year.

Hedge Funds Weigh In On Excelerate Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC raised its holdings in Excelerate Energy by 91.7% during the 1st quarter. AQR Capital Management LLC now owns 18,117 shares of the company’s stock worth $520,000 after purchasing an additional 8,665 shares during the last quarter. Millennium Management LLC grew its position in shares of Excelerate Energy by 26.8% in the 1st quarter. Millennium Management LLC now owns 415,206 shares of the company’s stock valued at $11,908,000 after purchasing an additional 87,672 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of Excelerate Energy by 27.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 442,764 shares of the company’s stock valued at $12,698,000 after purchasing an additional 95,565 shares during the period. Institutional investors own 21.79% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on EE. Morgan Stanley reaffirmed an “underweight” rating and issued a $29.00 price objective (up from $25.00) on shares of Excelerate Energy in a research note on Friday, January 31st. Wells Fargo & Company reiterated an “underweight” rating on shares of Excelerate Energy in a report on Friday, March 28th. Stephens restated an “overweight” rating and set a $36.00 price objective on shares of Excelerate Energy in a research note on Monday, March 3rd. Finally, Barclays increased their price target on Excelerate Energy from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Three investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $31.17.

Excelerate Energy Company Profile

Excelerate Energy, Inc provides flexible liquefied natural gas (LNG) solutions worldwide. The company offers regasification services, including floating storage and regasification units (FSRUs), infrastructure development, and LNG and natural gas supply, procurement, and distribution services; LNG terminal services; and natural gas supply to-power projects.