Excelerate Energy (NYSE:EE) Announces Earnings Results

Excelerate Energy (NYSE:EE) posted its earnings results on Wednesday. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02, FiscalAI reports. Excelerate Energy had a return on equity of 3.85% and a net margin of 2.98%.The firm had revenue of $329.27 million during the quarter, compared to the consensus estimate of $344.27 million. During the same period last year, the company earned $0.34 earnings per share. The business’s quarterly revenue was up 60.9% on a year-over-year basis.

Excelerate Energy Trading Down 1.9%

Excelerate Energy stock traded down $0.73 during trading hours on Thursday, reaching $37.77. 567,571 shares of the company’s stock were exchanged, compared to its average volume of 408,896. The firm’s 50 day simple moving average is $36.60 and its 200 day simple moving average is $36.18. Excelerate Energy has a twelve month low of $21.28 and a twelve month high of $43.17. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $4.30 billion, a PE ratio of 30.70, a PEG ratio of 1.43 and a beta of 1.22.

Excelerate Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Wednesday, August 19th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. This is an increase from Excelerate Energy’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, August 19th. Excelerate Energy’s payout ratio is currently 29.27%.

Institutional Investors Weigh In On Excelerate Energy

Several institutional investors and hedge funds have recently made changes to their positions in EE. Mariner LLC lifted its stake in Excelerate Energy by 29.0% in the fourth quarter. Mariner LLC now owns 12,587 shares of the company’s stock valued at $353,000 after buying an additional 2,826 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in shares of Excelerate Energy during the 4th quarter worth approximately $205,000. Counterpoint Mutual Funds LLC bought a new stake in shares of Excelerate Energy in the 4th quarter valued at $320,000. BNP Paribas Financial Markets lifted its position in shares of Excelerate Energy by 172.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,519 shares of the company’s stock valued at $139,000 after acquiring an additional 3,493 shares during the period. Finally, Boothbay Fund Management LLC acquired a new position in shares of Excelerate Energy during the 2nd quarter valued at $310,000. Institutional investors own 21.79% of the company’s stock.

Analysts Set New Price Targets

EE has been the topic of several research reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $42.00 price target on shares of Excelerate Energy in a report on Friday, May 8th. Zacks Research upgraded shares of Excelerate Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 14th. Morgan Stanley reduced their target price on shares of Excelerate Energy from $41.00 to $40.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Excelerate Energy in a research note on Wednesday, June 24th. Finally, Wells Fargo & Company cut their price target on shares of Excelerate Energy from $39.00 to $37.00 and set an “equal weight” rating on the stock in a report on Friday, May 8th. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Excelerate Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.64.

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.