Excelerate Energy (NYSE:EE) Announces Earnings Results

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

Excelerate Energy Stock Down 1.8%

EE stock traded down $0.72 on Wednesday, reaching $38.48. 424,759 shares of the company traded hands, compared to its average volume of 272,650. Excelerate Energy has a one year low of $21.28 and a one year high of $43.17. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.60 and a quick ratio of 2.60. The firm has a fifty day simple moving average of $36.60 and a 200-day simple moving average of $36.18. The company has a market cap of $4.38 billion, a P/E ratio of 31.28, a price-to-earnings-growth ratio of 1.43 and a beta of 1.22.

Excelerate Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Wednesday, August 19th will be given a dividend of $0.09 per share. This is a boost from Excelerate Energy’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.36 dividend on an annualized basis and a yield of 0.9%. Excelerate Energy’s dividend payout ratio is 26.02%.

Hedge Funds Weigh In On Excelerate Energy

Hedge funds have recently added to or reduced their stakes in the company. WINTON GROUP Ltd purchased a new position in shares of Excelerate Energy in the third quarter worth $466,000. Victory Capital Management Inc. boosted its holdings in shares of Excelerate Energy by 8.1% in the third quarter. Victory Capital Management Inc. now owns 17,983 shares of the company’s stock worth $453,000 after buying an additional 1,349 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Excelerate Energy by 28.8% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,618 shares of the company’s stock worth $370,000 after acquiring an additional 2,823 shares during the last quarter. Sei Investments Co. lifted its position in Excelerate Energy by 21.5% during the third quarter. Sei Investments Co. now owns 14,181 shares of the company’s stock valued at $357,000 after purchasing an additional 2,509 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new position in shares of Excelerate Energy during the 4th quarter valued at approximately $320,000. 21.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EE has been the subject of a number of recent analyst reports. Morgan Stanley reduced their target price on Excelerate Energy from $41.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $42.00 price target on shares of Excelerate Energy in a research report on Friday, May 8th. Wall Street Zen upgraded shares of Excelerate Energy from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Jefferies Financial Group reissued a “buy” rating and issued a $48.00 target price on shares of Excelerate Energy in a research note on Friday, July 10th. Finally, Wells Fargo & Company lowered their price target on shares of Excelerate Energy from $39.00 to $37.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. Three research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.64.

Excelerate Energy Company Profile

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.