Excelerate Energy (NYSE:EE) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Excelerate Energy (NYSE:EE) issued its quarterly earnings data on Wednesday. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01), Zacks reports. Excelerate Energy had a return on equity of 4.34% and a net margin of 3.46%.The firm had revenue of $317.57 million for the quarter, compared to the consensus estimate of $293.49 million. During the same quarter in the prior year, the firm earned $0.40 EPS. The company’s revenue was up 15.6% on a year-over-year basis.

Excelerate Energy Stock Down 7.9%

NYSE:EE traded down $3.38 during trading hours on Thursday, reaching $39.52. The company had a trading volume of 744,414 shares, compared to its average volume of 393,473. Excelerate Energy has a twelve month low of $21.28 and a twelve month high of $43.07. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 0.56. The firm has a market cap of $4.51 billion, a price-to-earnings ratio of 27.44, a P/E/G ratio of 1.35 and a beta of 1.36. The business’s 50-day simple moving average is $34.25 and its two-hundred day simple moving average is $28.80.

Excelerate Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders 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 annualized dividend and a yield of 0.8%. Excelerate Energy’s payout ratio is 22.22%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Northland Securities set a $50.00 target price on shares of Excelerate Energy in a research report on Friday, January 30th. Raymond James Financial upgraded shares of Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 price target on the stock in a report on Monday, January 5th. Tudor Pickering upgraded Excelerate Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 17th. Morgan Stanley lifted their target price on Excelerate Energy from $30.00 to $40.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Jefferies Financial Group upped their price target on Excelerate Energy from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.50.

Excelerate Energy declared that its board has initiated a share buyback plan on Thursday, December 11th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 2.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of Excelerate Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EE. Arax Advisory Partners boosted its holdings in Excelerate Energy by 791.9% in the fourth quarter. Arax Advisory Partners now owns 883 shares of the company’s stock worth $25,000 after acquiring an additional 784 shares in the last quarter. Global Retirement Partners LLC acquired a new position in shares of Excelerate Energy during the fourth quarter worth approximately $33,000. Essex Investment Management Co. LLC bought a new position in shares of Excelerate Energy in the 4th quarter worth $41,000. CIBC Private Wealth Group LLC bought a new position in shares of Excelerate Energy in the 4th quarter worth $56,000. Finally, Tower Research Capital LLC TRC increased its stake in Excelerate Energy by 157.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,941 shares of the company’s stock valued at $57,000 after purchasing an additional 1,186 shares in the last quarter. 21.79% of the stock is owned by institutional investors.

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.