Excelerate Energy (NYSE:EE) Issues Earnings Results, Misses Expectations By $0.02 EPS

Excelerate Energy (NYSE:EE) announced its quarterly earnings results on Wednesday. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02), Zacks reports. Excelerate Energy had a return on equity of 3.85% and a net margin of 2.98%.The business had revenue of $433.44 million for the quarter, compared to analysts’ expectations of $351.68 million. During the same period last year, the company posted $0.49 earnings per share. The firm’s revenue for the quarter was up 37.6% on a year-over-year basis.

Excelerate Energy Stock Up 2.2%

NYSE:EE traded up $0.73 on Friday, reaching $33.79. The stock had a trading volume of 536,023 shares, compared to its average volume of 374,377. The company has a current ratio of 2.60, a quick ratio of 2.43 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average of $34.88 and a 200 day moving average of $32.22. The stock has a market cap of $3.85 billion, a P/E ratio of 27.47, a price-to-earnings-growth ratio of 1.10 and a beta of 1.32. Excelerate Energy has a 12-month low of $21.28 and a 12-month high of $43.17.

Excelerate Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Wednesday, May 20th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, May 20th. Excelerate Energy’s dividend payout ratio is presently 24.24%.

Insiders Place Their Bets

In other Excelerate Energy news, insider Oliver Simpson sold 6,000 shares of the company’s stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $34.15, for a total value of $204,900.00. Following the completion of the transaction, the insider directly owned 51,719 shares of the company’s stock, valued at $1,766,203.85. This represents a 10.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.83% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Excelerate Energy

Several large investors have recently modified their holdings of EE. Wellington Management Group LLP lifted its position in shares of Excelerate Energy by 24.9% during the fourth quarter. Wellington Management Group LLP now owns 3,607,182 shares of the company’s stock worth $101,181,000 after purchasing an additional 719,148 shares during the last quarter. Qube Research & Technologies Ltd lifted its position in shares of Excelerate Energy by 328.4% during the second quarter. Qube Research & Technologies Ltd now owns 453,345 shares of the company’s stock worth $13,292,000 after purchasing an additional 347,521 shares during the last quarter. Squarepoint Ops LLC lifted its position in shares of Excelerate Energy by 219.5% during the third quarter. Squarepoint Ops LLC now owns 348,394 shares of the company’s stock worth $8,776,000 after purchasing an additional 239,358 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Excelerate Energy by 430.3% during the second quarter. Marshall Wace LLP now owns 292,150 shares of the company’s stock worth $8,566,000 after purchasing an additional 237,056 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of Excelerate Energy by 392.1% during the third quarter. Millennium Management LLC now owns 260,160 shares of the company’s stock worth $6,553,000 after purchasing an additional 207,295 shares during the last quarter. Institutional investors own 21.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on EE. Barclays upped their price target on shares of Excelerate Energy from $33.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. Zacks Research cut shares of Excelerate Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, April 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Excelerate Energy in a research report on Friday, March 27th. Jefferies Financial Group upped their price target on shares of Excelerate Energy from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Finally, Dnb Carnegie cut shares of Excelerate Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.56.

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.