Excelerate Energy (NYSE:EE) Shares Gap Up on Earnings Beat

Excelerate Energy, Inc. (NYSE:EE) gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $26.31, but opened at $28.72. Excelerate Energy shares last traded at $29.45, with a volume of 104,448 shares traded.

The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.13. Excelerate Energy had a return on equity of 4.16% and a net margin of 3.64%.The business had revenue of $245.16 million for the quarter, compared to analysts’ expectations of $270.82 million. The business’s revenue for the quarter was up 102.2% compared to the same quarter last year.

Excelerate Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Wednesday, November 19th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.1%. Excelerate Energy’s dividend payout ratio (DPR) is currently 23.53%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. began coverage on Excelerate Energy in a report on Monday, September 8th. They issued a “neutral” rating and a $30.00 price objective on the stock. Citigroup restated an “outperform” rating on shares of Excelerate Energy in a report on Wednesday, August 13th. Wall Street Zen raised Excelerate Energy from a “sell” rating to a “hold” rating in a research report on Sunday, August 24th. Wells Fargo & Company set a $26.00 price target on shares of Excelerate Energy in a research report on Monday, August 11th. Finally, Jefferies Financial Group set a $37.00 price objective on shares of Excelerate Energy and gave the company a “buy” rating in a research report on Tuesday, October 28th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $32.25.

Institutional Investors Weigh In On Excelerate Energy

Several institutional investors and hedge funds have recently modified their holdings of EE. New York State Teachers Retirement System lifted its stake in shares of Excelerate Energy by 1,467.0% in the 1st quarter. New York State Teachers Retirement System now owns 1,567 shares of the company’s stock valued at $45,000 after purchasing an additional 1,467 shares during the last quarter. MQS Management LLC bought a new position in shares of Excelerate Energy during the 1st quarter worth about $224,000. TimesSquare Capital Management LLC boosted its position in shares of Excelerate Energy by 4.4% during the 1st quarter. TimesSquare Capital Management LLC now owns 478,093 shares of the company’s stock valued at $13,712,000 after acquiring an additional 20,095 shares in the last quarter. Bailard Inc. boosted its position in shares of Excelerate Energy by 13.6% during the 1st quarter. Bailard Inc. now owns 25,100 shares of the company’s stock valued at $720,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Jackson Creek Investment Advisors LLC acquired a new position in Excelerate Energy in the first quarter valued at about $1,400,000. Institutional investors and hedge funds own 21.79% of the company’s stock.

Excelerate Energy Stock Performance

The stock’s 50-day simple moving average is $25.40 and its 200 day simple moving average is $26.58. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 21.58 and a beta of 1.38. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.58.

Excelerate Energy Company Profile

Excelerate Energy, Inc provides flexible liquefied natural gas (LNG) solutions worldwide. The company offers regasification services, including floating storage and regasification units (FSRUs), infrastructure development, and LNG and natural gas supply, procurement, and distribution services; LNG terminal services; and natural gas supply to-power projects.