Excelerate Energy (NYSE:EE) Stock Price Down 3.4% Following Insider Selling

Excelerate Energy, Inc. (NYSE:EE) shares fell 3.4% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $33.14 and last traded at $33.3650. 49,721 shares were traded during mid-day trading, a decline of 89% from the average session volume of 466,055 shares. The stock had previously closed at $34.54.

Specifically, insider Oliver Simpson sold 6,000 shares of the business’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $34.15, for a total transaction of $204,900.00. Following the completion of the transaction, the insider directly owned 51,719 shares in the company, valued at $1,766,203.85. The trade was a 10.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Wall Street Analysts Forecast Growth

EE has been the subject of a number of recent research reports. Morgan Stanley lifted their price objective on Excelerate Energy from $30.00 to $40.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Excelerate Energy in a research report on Monday, December 29th. Wall Street Zen lowered Excelerate Energy from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Dnb Carnegie cut shares of Excelerate Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 19th. Finally, Wells Fargo & Company lifted their target price on shares of Excelerate Energy from $29.00 to $39.00 and gave the company an “equal weight” rating in a report on Friday, February 27th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Excelerate Energy presently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

Excelerate Energy Stock Down 4.3%

The firm has a market capitalization of $3.77 billion, a P/E ratio of 25.03, a PEG ratio of 1.08 and a beta of 1.34. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.43 and a quick ratio of 2.43. The firm’s fifty day moving average price is $37.18 and its 200-day moving average price is $30.46.

Excelerate Energy (NYSE:EE) last posted its quarterly earnings data 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). The business had revenue of $317.57 million for the quarter, compared to the consensus estimate of $293.49 million. Excelerate Energy had a net margin of 3.19% and a return on equity of 4.12%. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter last year, the business posted $0.40 EPS. As a group, equities research analysts forecast that Excelerate Energy, Inc. will post 1.16 earnings per share for the current year.

Excelerate Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.0%. Excelerate Energy’s dividend payout ratio is 24.24%.

Excelerate Energy announced that its Board of Directors has initiated a stock buyback plan on Thursday, December 11th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to repurchase up to 2.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Martingale Asset Management L P grew its stake in Excelerate Energy by 0.4% in the 4th quarter. Martingale Asset Management L P now owns 74,192 shares of the company’s stock valued at $2,081,000 after buying an additional 281 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Excelerate Energy by 19.2% in the third quarter. PNC Financial Services Group Inc. now owns 2,438 shares of the company’s stock valued at $61,000 after buying an additional 392 shares in the last quarter. Bailard Inc. grew its stake in shares of Excelerate Energy by 1.6% during the third quarter. Bailard Inc. now owns 25,500 shares of the company’s stock valued at $642,000 after purchasing an additional 400 shares during the last quarter. Summit Global Investments increased its stake in shares of Excelerate Energy by 3.2% in the 3rd quarter. Summit Global Investments now owns 12,973 shares of the company’s stock valued at $327,000 after buying an additional 406 shares during the period. Finally, New York State Teachers Retirement System boosted its holdings in Excelerate Energy by 32.8% in the third quarter. New York State Teachers Retirement System now owns 2,081 shares of the company’s stock valued at $52,000 after acquiring an additional 514 shares during the last quarter. Institutional investors own 21.79% of the company’s stock.

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.