Excelerate Energy (NYSE:EE) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Key Points

• Excelerate Energy reported quarterly EPS of $0.44, beating the $0.42 consensus estimate by $0.02; revenue of $297.21 million fell short of the $365.99 million estimate and declined 24% year over year.
• Shares fell 2.3% to $34.32 during Wednesday trading. The company declared a quarterly dividend of $0.09 per share, equivalent to a 1.0% annualized yield.
• Analysts’ consensus rating was Buy, with a consensus price target of $44.00.

Excelerate Energy (NYSE:EE - Get Free Report) announced its earnings results on Wednesday. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02, FiscalAI reports. The business had revenue of $297.21 million for the quarter, compared to the consensus estimate of $365.99 million. Excelerate Energy had a return on equity of 2.24% and a net margin of 3.23%. Excelerate Energy's revenue was down 24.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 EPS.

Excelerate Energy Trading Down 2.3%

Excelerate Energy stock traded down $0.81 during mid-day trading on Wednesday, hitting $34.32. The stock had a trading volume of 737,994 shares, compared to its average volume of 359,289. The stock has a 50-day simple moving average of $35.31 and a two-hundred day simple moving average of $36.04. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $3.89 billion, a PE ratio of 23.74 and a beta of 1.23. Excelerate Energy has a 12 month low of $25.60 and a 12 month high of $43.17.

Excelerate Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Wednesday, November 18th will be issued a $0.09 dividend. The ex-dividend date is Wednesday, November 18th. This represents a $0.36 annualized dividend and a yield of 1.0%. Excelerate Energy's dividend payout ratio (DPR) is currently 24.83%.

Analyst Ratings Changes

EE has been the subject of several research analyst reports. Weiss Ratings upgraded Excelerate Energy from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, October 13th. Stephens restated an "overweight" rating and set a $45.00 target price on shares of Excelerate Energy in a report on Thursday, July 9th. The Goldman Sachs Group assumed coverage on Excelerate Energy in a research note on Wednesday, July 15th. They issued a "buy" rating and a $49.00 target price for the company. Barclays raised their target price on Excelerate Energy from $41.00 to $43.00 and gave the company an "overweight" rating in a research note on Tuesday, August 11th. Finally, Morgan Stanley set a $41.00 price target on shares of Excelerate Energy in a research report on Friday, August 7th. Four investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price 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.

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