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

Key Points

• Excelerate Energy reported a quarterly EPS of $0.34, surpassing the expected $0.33, with a net margin of 3.93% and a return on equity of 2.20%.
• The company announced an increase in its quarterly dividend to $0.08 per share, up from $0.06, reflecting an annualized dividend of $0.32 and a yield of 1.3%.
• Brokerages have varied opinions on Excelerate Energy, with a mix of five buy ratings and three sell ratings, and the stock holding a consensus target price of $32.29.

Excelerate Energy (NYSE:EE - Get Free Report) announced its quarterly earnings results on Monday. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.02, Zacks reports. Excelerate Energy had a net margin of 3.64% and a return on equity of 4.16%. The firm had revenue of $204.60 million during the quarter, compared to analysts' expectations of $259.82 million. The company's revenue was up 11.6% compared to the same quarter last year.

Excelerate Energy Stock Up 0.6%

NYSE:EE traded up $0.15 during midday trading on Thursday, reaching $24.40. 531,362 shares of the stock traded hands, compared to its average volume of 413,606. The business has a 50-day moving average of $27.42 and a two-hundred day moving average of $28.00. The stock has a market capitalization of $2.78 billion, a PE ratio of 17.94 and a beta of 1.38. Excelerate Energy has a 12-month low of $17.70 and a 12-month high of $32.99. The company has a debt-to-equity ratio of 0.58, a quick ratio of 3.34 and a current ratio of 2.60.

Excelerate Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Wednesday, August 20th will be given a dividend of $0.08 per share. This is a boost from Excelerate Energy's previous quarterly dividend of $0.06. This represents a $0.32 dividend on an annualized basis and a yield of 1.3%. Excelerate Energy's dividend payout ratio is presently 23.53%.

Institutional Investors Weigh In On Excelerate Energy

Several institutional investors and hedge funds have recently made changes to their positions in EE. Qube Research & Technologies Ltd lifted its stake in shares of Excelerate Energy by 328.4% during the second quarter. Qube Research & Technologies Ltd now owns 453,345 shares of the company's stock worth $13,292,000 after buying an additional 347,521 shares during the period. Marshall Wace LLP lifted its stake in shares of Excelerate Energy by 430.3% during the second quarter. Marshall Wace LLP now owns 292,150 shares of the company's stock worth $8,566,000 after buying an additional 237,056 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Excelerate Energy by 27.5% during the first quarter. Goldman Sachs Group Inc. now owns 442,764 shares of the company's stock worth $12,698,000 after buying an additional 95,565 shares during the period. Squarepoint Ops LLC lifted its stake in shares of Excelerate Energy by 456.6% during the second quarter. Squarepoint Ops LLC now owns 109,036 shares of the company's stock worth $3,197,000 after buying an additional 89,448 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of Excelerate Energy by 26.8% during the first quarter. Millennium Management LLC now owns 415,206 shares of the company's stock worth $11,908,000 after purchasing an additional 87,672 shares during the last quarter. 21.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EE has been the subject of several research reports. Wall Street Zen raised shares of Excelerate Energy from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Wells Fargo & Company set a $26.00 price target on shares of Excelerate Energy in a research report on Monday. Citigroup reaffirmed an "outperform" rating on shares of Excelerate Energy in a research report on Wednesday. Finally, Jefferies Financial Group began coverage on shares of Excelerate Energy in a research report on Thursday, June 5th. They issued a "buy" rating and a $39.00 price target for the company. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Excelerate Energy has a consensus rating of "Hold" and a consensus target price of $32.86.

Excelerate Energy Company Profile

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.