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

by · The Cerbat Gem

Excelerate Energy (NYSE:EEGet Free Report) posted its quarterly earnings data on Wednesday. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01), Zacks reports. Excelerate Energy had a net margin of 3.19% and a return on equity of 4.18%. The firm had revenue of $317.57 million during the quarter, compared to the consensus estimate of $293.49 million. During the same period in the prior year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year.

Excelerate Energy Price Performance

EE stock traded up $1.15 during mid-day trading on Friday, reaching $40.67. The company’s stock had a trading volume of 311,383 shares, compared to its average volume of 397,552. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 0.56. The company’s 50 day moving average is $34.52 and its two-hundred day moving average is $28.88. Excelerate Energy has a fifty-two week low of $21.28 and a fifty-two week high of $43.07. The stock has a market cap of $4.64 billion, a PE ratio of 30.82, a P/E/G ratio of 1.34 and a beta of 1.36.

Excelerate Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Wednesday, March 11th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Wednesday, March 11th. Excelerate Energy’s payout ratio is presently 22.22%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wall Street Zen raised shares of Excelerate Energy from a “hold” rating to a “buy” rating in a research report on Sunday, January 11th. Dnb Carnegie lowered Excelerate Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 19th. Morgan Stanley increased their price target on shares of Excelerate Energy from $30.00 to $40.00 and gave the company an “equal weight” rating in a research report on Tuesday. Jefferies Financial Group boosted their price objective on shares of Excelerate Energy from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Finally, Tudor Pickering upgraded Excelerate Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 17th. 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’s stock. Based on data from MarketBeat.com, Excelerate Energy presently has an average rating of “Moderate Buy” and an average target price of $37.80.

View Our Latest Analysis on Excelerate Energy

Institutional Trading of Excelerate Energy

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

Excelerate Energy announced that its Board of Directors has initiated a stock repurchase plan on Thursday, December 11th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to buy up to 2.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Excelerate Energy Company Profile

(Get Free Report)

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.

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