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

Key Points

• Excelerate Energy beat earnings expectations, reporting quarterly EPS of $0.37 versus the $0.35 consensus estimate. Revenue rose 60.9% year over year to $329.27 million but fell short of analysts’ $344.27 million forecast.
• Shares declined 1.8% to $38.48 following the results. The company increased its quarterly dividend to $0.09 per share, representing an annualized dividend of $0.36 and a 0.9% yield.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $40.64.

Excelerate Energy (NYSE:EE - Get Free Report) announced its quarterly earnings data on Wednesday. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.02, FiscalAI reports. Excelerate Energy had a net margin of 2.98% and a return on equity of 3.85%. The business had revenue of $329.27 million for the quarter, compared to analysts' expectations of $344.27 million. During the same period last year, the firm posted $0.34 earnings per share. The firm's quarterly revenue was up 60.9% compared to the same quarter last year.

Excelerate Energy Trading Down 1.8%

Shares of EE traded down $0.72 during trading hours on Wednesday, hitting $38.48. 424,759 shares of the stock were exchanged, compared to its average volume of 272,650. Excelerate Energy has a fifty-two week low of $21.28 and a fifty-two week high of $43.17. The business has a 50-day moving average of $36.60 and a 200-day moving average of $36.18. The firm has a market capitalization of $4.38 billion, a P/E ratio of 31.28, a price-to-earnings-growth ratio of 1.43 and a beta of 1.22. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.60 and a quick ratio of 2.60.

Excelerate Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Wednesday, August 19th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.9%. This is an increase from Excelerate Energy's previous quarterly dividend of $0.08. Excelerate Energy's payout ratio is currently 26.02%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $42.00 price objective on shares of Excelerate Energy in a research report on Friday, May 8th. Zacks Research raised Excelerate Energy from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 14th. Morgan Stanley dropped their target price on shares of Excelerate Energy from $41.00 to $40.00 and set an "equal weight" rating for the company in a report on Tuesday, April 21st. Stephens restated an "overweight" rating and issued a $45.00 price target on shares of Excelerate Energy in a research note on Thursday, July 9th. Finally, Wall Street Zen upgraded shares of Excelerate Energy from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Three research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $40.64.

Institutional Investors Weigh In On Excelerate Energy

Several institutional investors and hedge funds have recently made changes to their positions in EE. Arax Advisory Partners lifted its stake in Excelerate Energy by 791.9% during the 4th quarter. Arax Advisory Partners now owns 883 shares of the company's stock valued at $25,000 after acquiring an additional 784 shares in the last quarter. Global Retirement Partners LLC bought a new stake in shares of Excelerate Energy in the 4th quarter worth $33,000. Essex Investment Management Co. LLC purchased a new stake in shares of Excelerate Energy in the fourth quarter valued at about $41,000. Tower Research Capital LLC TRC raised its holdings in shares of Excelerate Energy by 157.1% in the second quarter. Tower Research Capital LLC TRC now owns 1,941 shares of the company's stock valued at $57,000 after purchasing an additional 1,186 shares during the last quarter. Finally, CIBC Private Wealth Group LLC bought a new stake in Excelerate Energy in the 4th quarter worth about $56,000. Institutional investors own 21.79% of the company's stock.

Excelerate Energy Company Profile

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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