Excelerate Energy (NYSE:EE) Trading Down 5.7% – Here’s Why

Excelerate Energy, Inc. (NYSE:EE) fell 5.7% on Monday . The company traded as low as $33.95 and last traded at $33.98. Approximately 242,940 shares were traded during trading, a decline of 41% from the average session volume of 409,682 shares. The stock had previously closed at $36.02.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on EE. Citigroup reaffirmed an “outperform” rating on shares of Excelerate Energy in a research report on Wednesday, August 12th. Morgan Stanley set a $41.00 price objective on Excelerate Energy in a research note on Friday, August 7th. Raymond James Financial restated a “strong-buy” rating and set a $50.00 target price on shares of Excelerate Energy in a research report on Monday. Wells Fargo & Company raised their target price on Excelerate Energy from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 12th. Finally, Northland Securities set a $45.00 price target on Excelerate Energy in a research note on Wednesday, August 12th. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.56.

Excelerate Energy Stock Performance

The stock has a market cap of $3.90 billion, a P/E ratio of 23.73 and a beta of 1.22. The company has a fifty day moving average price of $38.10 and a 200 day moving average price of $36.03. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.80 and a quick ratio of 1.80.

Excelerate Energy (NYSE:EE) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. Excelerate Energy had a net margin of 3.23% and a return on equity of 2.24%. The business had revenue of $329.27 million during the quarter, compared to analyst estimates of $344.27 million. During the same quarter in the previous year, the business posted $0.34 EPS. Excelerate Energy’s quarterly revenue was up 60.9% on a year-over-year basis. On average, equities analysts expect that Excelerate Energy, Inc. will post 1.57 EPS for the current year.

Excelerate Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Wednesday, August 19th were issued a $0.09 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost from Excelerate Energy’s previous quarterly dividend of $0.08. Excelerate Energy’s dividend payout ratio (DPR) is currently 24.83%.

Hedge Funds Weigh In On Excelerate Energy

Hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its stake in shares of Excelerate Energy by 26.8% in the second quarter. Wellington Management Group LLP now owns 3,339,759 shares of the company’s stock worth $126,877,000 after purchasing an additional 705,587 shares during the last quarter. Copeland Capital Management LLC boosted its position in shares of Excelerate Energy by 45.0% during the first quarter. Copeland Capital Management LLC now owns 1,584,618 shares of the company’s stock valued at $52,958,000 after buying an additional 491,653 shares during the last quarter. Ranger Investment Management L.P. bought a new stake in Excelerate Energy during the second quarter worth $34,658,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new stake in Excelerate Energy during the first quarter worth $10,862,000. Finally, Renaissance Technologies LLC raised its position in Excelerate Energy by 132.9% in the 1st quarter. Renaissance Technologies LLC now owns 285,519 shares of the company’s stock valued at $9,542,000 after buying an additional 162,919 shares during the last quarter. Institutional investors and hedge funds own 21.79% of the company’s stock.

About Excelerate Energy

Excelerate Energy, Inc is an integrated liquefied natural gas (LNG) company that provides flexible LNG delivery and regasification solutions. The company specializes in floating storage and regasification units (FSRUs), which receive, store and convert LNG into natural gas for delivery into pipeline networks.

Its services include LNG procurement and transportation, FSRU operations, regasification, terminal management and related infrastructure development. Excelerate also develops and operates offshore and nearshore LNG import facilities designed to help customers access natural gas without relying solely on large, land-based terminals.

Founded in 2003, Excelerate has supported LNG import and energy-infrastructure projects in markets including Bangladesh, Brazil, Argentina, Finland and other regions.