Excelerate Energy, Inc. (NYSE:EE) Increases Dividend to $0.09 Per Share

Key Points

• Excelerate Energy raised its quarterly dividend 12.5% to $0.09 per share, payable September 3 to shareholders of record August 19. The annualized dividend yield is approximately 0.9%, with an 18.9% payout ratio.
• The company reported quarterly revenue of $433.44 million, up 37.6% year over year and well above estimates, but EPS of $0.37 missed consensus by $0.02.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $40.64, versus the stock’s reported opening price of $38.27.

Excelerate Energy, Inc. (NYSE:EE - Get Free Report) announced a quarterly dividend on Thursday, July 30th. Shareholders of record on Wednesday, August 19th will be given a dividend of 0.09 per share on Thursday, September 3rd. This represents a c) dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Wednesday, August 19th. This is a 12.5% increase from Excelerate Energy's previous quarterly dividend of $0.08.

Excelerate Energy has a payout ratio of 18.9% indicating that 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 $0.32 annual dividend with an expected future payout ratio of 16.1%.

Excelerate Energy Stock Up 2.7%

Excelerate Energy stock opened at $38.27 on Friday. Excelerate Energy has a 12 month low of $21.28 and a 12 month high of $43.17. The stock has a fifty day simple moving average of $36.34 and a two-hundred day simple moving average of $35.98. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of 31.11, a PEG ratio of 1.35 and a beta of 1.23. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.53.

Excelerate Energy (NYSE:EE - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.02). The company had revenue of $433.44 million for the quarter, compared to the consensus estimate of $351.68 million. Excelerate Energy had a net margin of 2.98% and a return on equity of 3.85%. Excelerate Energy's revenue was up 37.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.49 EPS. Equities analysts predict that Excelerate Energy will post 1.52 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Excelerate Energy in a research report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $42.00 price target on shares of Excelerate Energy in a research note on Friday, May 8th. Morgan Stanley reduced their price target on Excelerate Energy from $41.00 to $40.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 21st. Northland Securities set a $48.00 target price on shares of Excelerate Energy in a research report on Friday, May 15th. Finally, The Goldman Sachs Group assumed 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. Three analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $40.64.

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.

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