Excelerate Energy, Inc. (NYSE:EE) Stock to Pay Quarterly Dividend of $0.09

Excelerate Energy, Inc. (NYSE:EE) declared a quarterly dividend on Thursday, October 29th. Stockholders of record on Wednesday, November 18th will be given a dividend of $0.09 per share on Thursday, December 3rd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Wednesday, November 18th.

Excelerate Energy has a dividend payout ratio of 21.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Excelerate Energy to earn $1.99 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 18.1%.

Excelerate Energy Stock Performance

Shares of NYSE:EE opened at $35.06 on Friday. The firm has a market capitalization of $3.98 billion, a PE ratio of 24.18 and a beta of 1.25. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.80 and a quick ratio of 1.80. Excelerate Energy has a 12 month low of $24.90 and a 12 month high of $43.17. The business has a 50-day moving average of $35.68 and a two-hundred day moving average of $35.98.

Excelerate Energy (NYSE:EE) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.37 earnings per share (EPS) 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 company had revenue of $329.27 million for the quarter, compared to the consensus estimate of $344.27 million. During the same period in the previous year, the business earned $0.34 EPS. Excelerate Energy’s revenue for the quarter was up 60.9% compared to the same quarter last year. As a group, research analysts forecast that Excelerate Energy will post 1.55 earnings per share for the current year.

Hedge Funds Weigh In On Excelerate Energy

A number of large investors have recently modified their holdings of the company. Wellington Management Group LLP lifted 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 acquiring an additional 705,587 shares during the period. Copeland Capital Management LLC boosted its stake in shares of Excelerate Energy by 45.0% in the first 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 during the period. Ranger Investment Management L.P. bought a new position in Excelerate Energy in the 2nd quarter worth approximately $34,658,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in shares of Excelerate Energy during the 1st quarter valued at about $10,862,000. Finally, Renaissance Technologies LLC boosted its stake in Excelerate Energy by 132.9% during the first quarter. Renaissance Technologies LLC now owns 285,519 shares of the company’s stock valued at $9,542,000 after buying an additional 162,919 shares during the last quarter. 21.79% of the stock is owned by hedge funds and other institutional investors.

About Excelerate Energy

Excelerate Energy, Inc is a U.S.-based energy infrastructure company that provides liquefied natural gas (LNG) delivery and regasification services. The company specializes in floating storage and regasification units (FSRUs), which receive, store and convert LNG back into natural gas for delivery to onshore or offshore pipeline systems.

Excelerate offers integrated LNG solutions that can include vessel ownership and operation, terminal and regasification services, LNG supply, logistics and project development.