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

Key Points

• Excelerate Energy reported quarterly EPS of $0.37, missing analyst expectations by $0.02, even as revenue came in well above estimates at $433.44 million.
• Revenue rose 37.6% year over year, but earnings were lower than the same quarter last year, when the company posted $0.49 per share.
• The stock was up 2.2% after the report, and the company also announced a quarterly dividend of $0.08 per share, payable June 4.

Excelerate Energy (NYSE:EE - Get Free Report) issued its quarterly earnings results on Wednesday. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02), Zacks reports. The business had revenue of $433.44 million during the quarter, compared to analyst estimates of $351.68 million. Excelerate Energy had a net margin of 2.98% and a return on equity of 3.85%. The company's revenue was up 37.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.49 earnings per share.

Excelerate Energy Trading Up 2.2%

Shares of EE stock traded up $0.73 on Friday, reaching $33.79. 536,023 shares of the stock were exchanged, compared to its average volume of 374,377. The stock has a market cap of $3.85 billion, a P/E ratio of 27.47, a price-to-earnings-growth ratio of 1.10 and a beta of 1.32. The company has a quick ratio of 2.43, a current ratio of 2.60 and a debt-to-equity ratio of 0.53. The firm has a 50 day moving average of $34.88 and a two-hundred day moving average of $32.22. Excelerate Energy has a 1-year low of $21.28 and a 1-year high of $43.17.

Excelerate Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Wednesday, May 20th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Wednesday, May 20th. Excelerate Energy's dividend payout ratio is presently 24.24%.

Insider Activity at Excelerate Energy

In other news, insider Oliver Simpson sold 6,000 shares of the company's stock in a transaction on Friday, March 20th. The stock was sold at an average price of $34.15, for a total transaction of $204,900.00. Following the completion of the sale, the insider directly owned 51,719 shares in the company, valued at $1,766,203.85. This represents a 10.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.83% of the stock is currently owned by insiders.

Institutional Trading of Excelerate Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Martingale Asset Management L P increased its holdings in shares of Excelerate Energy by 0.4% during the 4th quarter. Martingale Asset Management L P now owns 74,192 shares of the company's stock worth $2,081,000 after buying an additional 281 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Excelerate Energy by 3.6% during the 2nd quarter. Legal & General Group Plc now owns 19,317 shares of the company's stock worth $566,000 after buying an additional 670 shares during the last quarter. Arax Advisory Partners boosted its position in Excelerate Energy by 791.9% during the 4th quarter. Arax Advisory Partners now owns 883 shares of the company's stock worth $25,000 after purchasing an additional 784 shares during the period. Global Retirement Partners LLC purchased a new stake in Excelerate Energy during the 4th quarter worth $33,000. Finally, Tower Research Capital LLC TRC boosted its position in Excelerate Energy by 157.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,941 shares of the company's stock worth $57,000 after purchasing an additional 1,186 shares during the period. 21.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Excelerate Energy in a report on Friday, March 27th. Wall Street Zen downgraded Excelerate Energy from a "hold" rating to a "sell" rating in a report on Saturday, April 4th. Morgan Stanley cut their price target on Excelerate Energy from $41.00 to $40.00 and set an "equal weight" rating for the company in a report on Tuesday, April 21st. Barclays boosted their price target on Excelerate Energy from $33.00 to $41.00 and gave the company an "overweight" rating in a report on Monday, March 2nd. Finally, Dnb Carnegie downgraded Excelerate Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $38.56.

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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