Oliver Simpson Sells 6,000 Shares of Excelerate Energy (NYSE:EE) Stock

Excelerate Energy, Inc. (NYSE:EE) insider Oliver Simpson sold 6,000 shares of Excelerate Energy stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $34.15, for a total transaction of $204,900.00. Following the completion of the sale, the insider owned 51,719 shares of the company’s stock, valued at $1,766,203.85. This trade represents a 10.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Excelerate Energy Stock Down 0.8%

Excelerate Energy stock opened at $33.23 on Friday. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 0.54. Excelerate Energy, Inc. has a 1-year low of $21.28 and a 1-year high of $43.17. The firm’s fifty day simple moving average is $37.21 and its 200-day simple moving average is $30.50. The company has a market capitalization of $3.79 billion, a P/E ratio of 25.18, a P/E/G ratio of 1.05 and a beta of 1.34.

Excelerate Energy (NYSE:EE) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The business had revenue of $317.57 million during the quarter, compared to the consensus estimate of $293.49 million. Excelerate Energy had a return on equity of 4.12% and a net margin of 3.19%.The company’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.40 earnings per share. Sell-side analysts forecast that Excelerate Energy, Inc. will post 1.16 earnings per share for the current fiscal year.

Excelerate Energy announced that its Board of Directors has initiated a share repurchase program on Thursday, December 11th that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Excelerate Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Wednesday, March 11th. Excelerate Energy’s dividend payout ratio is 24.24%.

Institutional Investors Weigh In On Excelerate Energy

Several hedge funds have recently modified their holdings of EE. Arax Advisory Partners increased its position in Excelerate Energy by 791.9% during the fourth quarter. Arax Advisory Partners now owns 883 shares of the company’s stock worth $25,000 after acquiring an additional 784 shares during the period. State of Alaska Department of Revenue acquired a new position in Excelerate Energy during the 3rd quarter valued at $30,000. Global Retirement Partners LLC bought a new stake in Excelerate Energy in the 4th quarter valued at $33,000. Aster Capital Management DIFC Ltd acquired a new stake in Excelerate Energy in the 3rd quarter worth $38,000. Finally, Essex Investment Management Co. LLC acquired a new stake in Excelerate Energy in the 4th quarter worth $41,000. 21.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $44.00 price objective on shares of Excelerate Energy in a research note on Friday, February 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Excelerate Energy in a report on Monday, December 29th. Jefferies Financial Group boosted their target price on shares of Excelerate Energy from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Morgan Stanley upped their price target on shares of Excelerate Energy from $30.00 to $40.00 and gave the company an “equal weight” rating in a report on Tuesday, February 24th. Finally, Raymond James Financial raised Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 price target on the stock in a research report on Monday, January 5th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.00.

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.