Excelerate Energy (NYSE:EE) Posts Earnings Results

Excelerate Energy (NYSE:EE) issued its quarterly earnings results on Wednesday. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02, FiscalAI reports. The company had revenue of $329.27 million during the quarter, compared to analyst estimates of $344.27 million. Excelerate Energy had a net margin of 3.23% and a return on equity of 2.25%. The business’s revenue for the quarter was up 60.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.34 EPS.

Excelerate Energy Price Performance

EE stock traded down $1.76 on Friday, hitting $36.10. 198,431 shares of the company’s stock traded hands, compared to its average volume of 408,629. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of 24.91, a P/E/G ratio of 1.40 and a beta of 1.22. Excelerate Energy has a 1-year low of $21.28 and a 1-year high of $43.17. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.53. The stock has a fifty day moving average of $36.69 and a 200-day moving average of $36.21.

Excelerate Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Wednesday, August 19th will be paid a dividend of $0.09 per share. This is a boost from Excelerate Energy’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, August 19th. Excelerate Energy’s dividend payout ratio (DPR) is currently 26.02%.

Hedge Funds Weigh In On Excelerate Energy

A number of hedge funds have recently modified their holdings of EE. Wellington Management Group LLP boosted its stake in Excelerate Energy by 24.9% in the 4th 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 period. Qube Research & Technologies Ltd raised its stake in Excelerate Energy by 328.4% during the 2nd quarter. Qube Research & Technologies Ltd now owns 453,345 shares of the company’s stock valued at $13,292,000 after purchasing an additional 347,521 shares during the period. Squarepoint Ops LLC lifted its holdings in shares of Excelerate Energy by 219.5% in the third quarter. Squarepoint Ops LLC now owns 348,394 shares of the company’s stock valued at $8,776,000 after purchasing an additional 239,358 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Excelerate Energy by 430.3% in the second quarter. Marshall Wace LLP now owns 292,150 shares of the company’s stock worth $8,566,000 after buying an additional 237,056 shares during the period. Finally, Millennium Management LLC grew its holdings 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 valued at $6,553,000 after buying an additional 207,295 shares in the last quarter. 21.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on EE shares. Weiss Ratings reissued a “hold (c)” rating on shares of Excelerate Energy in a report on Wednesday, June 24th. Zacks Research raised Excelerate Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. The Goldman Sachs Group assumed coverage on Excelerate Energy in a research report on Wednesday, July 15th. They set a “buy” rating and a $49.00 price target on the stock. Stephens reissued an “overweight” rating and issued a $45.00 price objective on shares of Excelerate Energy in a research note on Thursday, July 9th. Finally, Morgan Stanley set a $41.00 price objective on Excelerate Energy in a report on Friday. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $40.73.

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.