Excelerate Energy, Inc. (NYSE:EE) Declares Quarterly Dividend of $0.08

Key Points

• Excelerate Energy, Inc. declared a quarterly dividend of $0.08 per share, reflecting a 33.3% increase from the previous dividend of $0.06.
• The company has a strong payout ratio of 14.2%, indicating the dividend is well supported by earnings, with an expected annual EPS of $1.31 next year.
• Excelerate Energy's stock price rose to $25.64, with a trading volume that surpassed its average, and currently has a market cap of $2.92 billion.

Excelerate Energy, Inc. (NYSE:EE - Get Free Report) announced a quarterly dividend on Thursday, July 31st, RTT News reports. Shareholders of record on Wednesday, August 20th will be paid a dividend of 0.08 per share on Thursday, September 4th. This represents a c) dividend on an annualized basis and a yield of 1.2%. This is a 33.3% increase from Excelerate Energy's previous quarterly dividend of $0.06.

Excelerate Energy has a payout ratio of 14.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Excelerate Energy to earn $1.31 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 18.3%.

Excelerate Energy Price Performance

NYSE EE traded up $0.45 on Thursday, reaching $25.64. The company's stock had a trading volume of 496,165 shares, compared to its average volume of 400,088. Excelerate Energy has a twelve month low of $17.54 and a twelve month high of $32.99. The company has a debt-to-equity ratio of 0.31, a quick ratio of 3.34 and a current ratio of 3.34. The stock has a market cap of $2.92 billion, a PE ratio of 17.44 and a beta of 1.40. The firm's 50 day moving average is $28.28 and its two-hundred day moving average is $28.48.

Excelerate Energy (NYSE:EE - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.39 by $0.10. Excelerate Energy had a net margin of 3.93% and a return on equity of 2.20%. The company had revenue of $315.09 million during the quarter, compared to the consensus estimate of $207.87 million. Excelerate Energy's revenue was up 14.8% compared to the same quarter last year. As a group, sell-side analysts predict that Excelerate Energy will post 1.16 EPS for the current year.

Institutional Investors Weigh In On Excelerate Energy

Hedge funds have recently modified their holdings of the business. New York State Teachers Retirement System boosted its position in shares of Excelerate Energy by 1,467.0% in the first quarter. New York State Teachers Retirement System now owns 1,567 shares of the company's stock valued at $45,000 after acquiring an additional 1,467 shares during the period. Jackson Creek Investment Advisors LLC bought a new position in Excelerate Energy in the first quarter worth $1,400,000. GAMMA Investing LLC lifted its position in Excelerate Energy by 4,503.2% in the first quarter. GAMMA Investing LLC now owns 12,935 shares of the company's stock worth $371,000 after purchasing an additional 12,654 shares during the period. Ritholtz Wealth Management lifted its position in Excelerate Energy by 55.1% in the first quarter. Ritholtz Wealth Management now owns 29,752 shares of the company's stock worth $853,000 after purchasing an additional 10,574 shares during the period. Finally, CenterBook Partners LP bought a new position in Excelerate Energy in the first quarter worth $381,000. 21.79% of the stock is owned by institutional investors.

About Excelerate Energy

Excelerate Energy, Inc provides flexible liquefied natural gas (LNG) solutions worldwide. The company offers regasification services, including floating storage and regasification units (FSRUs), infrastructure development, and LNG and natural gas supply, procurement, and distribution services; LNG terminal services; and natural gas supply to-power projects.

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