Excelerate Energy (NYSE:EE) Shares Gap Down Following Weak Earnings

Key Points

• Shares gapped down — the stock opened at $30.99 after a $34.34 close (roughly a 6.8% drop) following a weaker-than-expected quarter in which EPS missed at $0.37 versus $0.39 consensus.
• Revenue grew 37.6% year-over-year to $433.44 billion, topping analysts' $351.68 billion estimate for the quarter.
• The company declared a quarterly dividend of $0.08 (annualized $0.32, ~1.0% yield; ex-dividend May 20, payable June 4) while analysts' consensus rates Excelerate Energy as a Moderate Buy with an average price target of $39.00.

Excelerate Energy, Inc. (NYSE:EE - Get Free Report)'s share price gapped down prior to trading on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $34.34, but opened at $30.99. Excelerate Energy shares last traded at $31.6470, with a volume of 59,571 shares traded.

The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.02). Excelerate Energy had a return on equity of 4.12% and a net margin of 3.19%.The firm had revenue of $433.44 billion for the quarter, compared to analysts' expectations of $351.68 billion. During the same quarter in the previous year, the firm posted $0.49 EPS. The firm's revenue for the quarter was up 37.6% compared to the same quarter last year.

Excelerate Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Wednesday, May 20th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $0.32 dividend on an annualized basis and a yield of 1.0%. Excelerate Energy's dividend payout ratio is currently 24.24%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on EE shares. Jefferies Financial Group increased their target price on Excelerate Energy from $37.00 to $40.00 and gave the stock a "buy" rating in a report on Tuesday, January 20th. Wells Fargo & Company increased their target price on Excelerate Energy from $29.00 to $39.00 and gave the stock an "equal weight" rating in a report on Friday, February 27th. Zacks Research downgraded Excelerate Energy from a "hold" rating to a "strong sell" rating in a report on Monday, April 27th. Northland Securities set a $50.00 target price on Excelerate Energy in a report on Friday, January 30th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Excelerate Energy in a report on Friday, March 27th. Two 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 issued a Sell rating to the company. Based on data from MarketBeat.com, Excelerate Energy has an average rating of "Moderate Buy" and an average price target of $39.00.

Insider Activity

In related news, insider Oliver Simpson sold 6,000 shares of the firm's stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $34.15, for a total value of $204,900.00. Following the sale, the insider directly owned 51,719 shares in the company, valued at $1,766,203.85. This trade represents a 10.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.83% of the company's stock.

Institutional Trading of Excelerate Energy

Several large investors have recently added to or reduced their stakes in the business. Swiss National Bank increased its position in Excelerate Energy by 1.9% in the 1st quarter. Swiss National Bank now owns 47,500 shares of the company's stock valued at $1,587,000 after acquiring an additional 900 shares during the period. Simon Quick Advisors LLC acquired a new stake in Excelerate Energy in the 1st quarter valued at approximately $214,000. Copeland Capital Management LLC increased its position in Excelerate Energy by 45.0% in the 1st quarter. Copeland Capital Management LLC now owns 1,584,618 shares of the company's stock valued at $52,958,000 after acquiring an additional 491,653 shares during the period. Bank of New York Mellon Corp increased its position in Excelerate Energy by 0.3% in the 1st quarter. Bank of New York Mellon Corp now owns 195,532 shares of the company's stock valued at $6,535,000 after acquiring an additional 633 shares during the period. Finally, Emerald Mutual Fund Advisers Trust increased its position in Excelerate Energy by 2.6% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 189,165 shares of the company's stock valued at $6,322,000 after acquiring an additional 4,827 shares during the period. 21.79% of the stock is currently owned by institutional investors and hedge funds.

Excelerate Energy Trading Down 6.8%

The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of 24.32, a PEG ratio of 1.18 and a beta of 1.32. The firm has a 50-day moving average of $35.07 and a 200 day moving average of $32.18.

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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