Excelerate Energy, Inc. (NYSE:EE) to Issue Quarterly Dividend of $0.09

Key Points

• Excelerate Energy declared a quarterly dividend of $0.09 per share, payable December 3 to shareholders of record on November 18. The annualized dividend is $0.36, representing a 1.0% yield.
• The dividend appears well covered, with a 21.3% payout ratio; analysts expect next year’s earnings to support an even lower projected payout ratio of 18.1%.
• Wall Street maintains a favorable outlook, with a consensus “Buy” rating and a $44 price target versus the stock’s reported $35.06 opening price.

Excelerate Energy, Inc. (NYSE:EE - Get Free Report) announced a quarterly dividend on Thursday, October 29th. Shareholders of record on Wednesday, November 18th will be paid a dividend of $0.09 per share on Thursday, December 3rd. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, November 18th.

Excelerate Energy has a dividend payout ratio of 21.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Excelerate Energy to earn $1.99 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 18.1%.

Excelerate Energy Price Performance

Shares of EE opened at $35.06 on Friday. The business's 50 day moving average price is $35.68 and its two-hundred day moving average price is $35.98. The firm has a market cap of $3.98 billion, a PE ratio of 22.95 and a beta of 1.25. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.80 and a current ratio of 1.80. Excelerate Energy has a 52-week low of $24.90 and a 52-week high of $43.17.

Excelerate Energy (NYSE:EE - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.02. The business had revenue of $329.27 million for the quarter, compared to the consensus estimate of $344.27 million. Excelerate Energy had a return on equity of 2.24% and a net margin of 3.23%. The firm's revenue for the quarter was up 60.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.34 EPS. On average, equities analysts anticipate that Excelerate Energy will post 1.55 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on EE. The Goldman Sachs Group initiated coverage on shares of Excelerate Energy in a research note on Wednesday, July 15th. They issued a "buy" rating and a $49.00 price objective for the company. DNB Markets set a $39.00 target price on Excelerate Energy in a report on Wednesday. Dnb Carnegie raised Excelerate Energy from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. Northland Securities set a $45.00 price target on Excelerate Energy in a report on Wednesday, August 12th. Finally, Zacks Research upgraded Excelerate Energy from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 14th. Four research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $44.00.

About Excelerate Energy

Excelerate Energy, Inc is a U.S.-based energy infrastructure company that provides liquefied natural gas (LNG) delivery and regasification services. The company specializes in floating storage and regasification units (FSRUs), which receive, store and convert LNG back into natural gas for delivery to onshore or offshore pipeline systems.

Excelerate offers integrated LNG solutions that can include vessel ownership and operation, terminal and regasification services, LNG supply, logistics and project development.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.