Excelerate Energy (NYSE:EE) Insider Sells $204,900.00 in Stock

Excelerate Energy, Inc. (NYSE:EE) insider Oliver Simpson sold 6,000 shares of the stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $34.15, for a total value of $204,900.00. Following the sale, the insider directly owned 51,719 shares of the company’s stock, valued at approximately $1,766,203.85. The trade was a 10.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Excelerate Energy Stock Performance

Shares of EE stock opened at $34.53 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.43 and a current ratio of 2.43. The company has a market capitalization of $3.94 billion, a P/E ratio of 26.16, a price-to-earnings-growth ratio of 1.08 and a beta of 1.34. The company’s 50 day moving average price is $37.18 and its two-hundred day moving average price is $30.46. Excelerate Energy, Inc. has a 52 week low of $21.28 and a 52 week high of $43.17.

Excelerate Energy (NYSE:EE) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). Excelerate Energy had a net margin of 3.19% and a return on equity of 4.12%. The company had revenue of $317.57 million during the quarter, compared to analyst estimates of $293.49 million. During the same quarter last year, the company earned $0.40 EPS. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. On average, analysts expect that Excelerate Energy, Inc. will post 1.16 earnings per share for the current fiscal year.

Excelerate Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Wednesday, March 11th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, March 11th. Excelerate Energy’s payout ratio is currently 24.24%.

Excelerate Energy declared that its Board of Directors has authorized a share buyback program on Thursday, December 11th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $44.00 price target on shares of Excelerate Energy in a research note on Friday, February 6th. Wells Fargo & Company upped their price objective on Excelerate Energy from $29.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Friday, February 27th. Morgan Stanley increased their price objective on Excelerate Energy from $30.00 to $40.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 24th. Northland Securities set a $50.00 target price on Excelerate Energy in a research report on Friday, January 30th. Finally, Barclays boosted their target price on Excelerate Energy from $33.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

Hedge Funds Weigh In On Excelerate Energy

Large investors have recently modified their holdings of the business. Arax Advisory Partners grew its holdings in shares of Excelerate Energy by 791.9% in the 4th quarter. Arax Advisory Partners now owns 883 shares of the company’s stock valued at $25,000 after acquiring an additional 784 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in Excelerate Energy during the third quarter worth about $30,000. Global Retirement Partners LLC bought a new stake in Excelerate Energy during the fourth quarter worth about $33,000. Aster Capital Management DIFC Ltd bought a new position in Excelerate Energy in the third quarter valued at approximately $38,000. Finally, Essex Investment Management Co. LLC bought a new position in Excelerate Energy in the fourth quarter valued at approximately $41,000. 21.79% of the stock is currently owned by institutional investors and hedge funds.

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.