Excelerate Energy (NYSE:EE) Announces Quarterly Earnings Results

Excelerate Energy (NYSE:EE) issued its earnings results on Wednesday. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02, FiscalAI reports. Excelerate Energy had a return on equity of 2.15% and a net margin of 3.47%. The business had revenue of $297.21 million during the quarter, compared to analyst estimates of $365.99 million. During the same period in the previous year, the company posted $0.45 EPS. Excelerate Energy’s revenue was down 24.0% on a year-over-year basis.

Excelerate Energy Stock Up 4.4%

EE stock traded up $1.56 during trading on Friday, reaching $36.91. 670,295 shares of the company traded hands, compared to its average volume of 408,518. Excelerate Energy has a 12 month low of $25.67 and a 12 month high of $43.17. The business has a 50 day simple moving average of $35.23 and a 200 day simple moving average of $36.05. The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of 25.28 and a beta of 1.23. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.80 and a current ratio of 1.80.

Excelerate Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Wednesday, November 18th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. Excelerate Energy’s dividend payout ratio (DPR) is presently 24.66%.

Wall Street Analysts Forecast Growth

EE has been the topic of several research reports. Raymond James Financial restated a “strong-buy” rating and set a $50.00 price target on shares of Excelerate Energy in a research note on Monday, September 21st. Citigroup reaffirmed an “outperform” rating on shares of Excelerate Energy in a research note on Wednesday, August 12th. Weiss Ratings upgraded shares of Excelerate Energy from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, October 13th. Zacks Research raised shares of Excelerate Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 14th. Finally, Wells Fargo & Company boosted their price target on shares of Excelerate Energy from $37.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, August 12th. Four analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Excelerate Energy has a consensus rating of “Buy” and an average target price of $44.00.

About Excelerate Energy

Excelerate Energy, Inc is a U.S.-based energy infrastructure company that provides liquefied natural gas (LNG) delivery and regasification services. The company specializes in floating storage and regasification units (FSRUs), which receive, store and convert LNG back into natural gas for delivery to onshore or offshore pipeline systems.

Excelerate offers integrated LNG solutions that can include vessel ownership and operation, terminal and regasification services, LNG supply, logistics and project development.