Excelerate Energy (NYSE:EE) Insider Sells $204,900.00 in Stock

Excelerate Energy, Inc. (NYSE:EE) insider Oliver Simpson sold 6,000 shares of the stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $34.15, for a total value of $204,900.00. Following the completion of the sale, the insider directly owned 51,719 shares of the company’s stock, valued at approximately $1,766,203.85. The trade was a 10.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Excelerate Energy Price Performance

NYSE:EE opened at $34.53 on Wednesday. The stock has a market capitalization of $3.94 billion, a PE ratio of 26.16, a P/E/G ratio of 1.08 and a beta of 1.34. Excelerate Energy, Inc. has a 1-year low of $21.28 and a 1-year high of $43.17. The firm has a fifty day simple moving average of $37.18 and a 200 day simple moving average of $30.46. 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 (NYSE:EE) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Excelerate Energy had a net margin of 3.19% and a return on equity of 4.12%. The firm had revenue of $317.57 million during the quarter, compared to analyst estimates of $293.49 million. During the same quarter in the prior year, the business earned $0.40 EPS. The business’s revenue was up 15.6% compared to the same quarter last year. On average, research analysts expect that Excelerate Energy, Inc. will post 1.16 EPS for the current fiscal year.

Excelerate Energy announced that its Board of Directors has initiated a stock buyback plan on Thursday, December 11th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Excelerate Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Wednesday, March 11th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.9%. The ex-dividend date is Wednesday, March 11th. Excelerate Energy’s dividend payout ratio (DPR) is 24.24%.

Institutional Investors Weigh In On Excelerate Energy

A number of institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP grew its position in shares of Excelerate Energy by 24.9% in the fourth quarter. Wellington Management Group LLP now owns 3,607,182 shares of the company’s stock valued at $101,181,000 after purchasing an additional 719,148 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Excelerate Energy by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 2,405,120 shares of the company’s stock worth $67,464,000 after purchasing an additional 11,731 shares during the period. Copeland Capital Management LLC acquired a new stake in Excelerate Energy during the 4th quarter worth approximately $30,658,000. TimesSquare Capital Management LLC boosted its stake in Excelerate Energy by 2.8% in the 4th quarter. TimesSquare Capital Management LLC now owns 949,723 shares of the company’s stock valued at $26,640,000 after purchasing an additional 25,600 shares during the period. Finally, Kayne Anderson Capital Advisors LP boosted its stake in Excelerate Energy by 77.3% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 781,623 shares of the company’s stock valued at $19,689,000 after purchasing an additional 340,747 shares during the period. Institutional investors own 21.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on EE shares. Morgan Stanley boosted their price target on Excelerate Energy from $30.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 24th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $44.00 target price on shares of Excelerate Energy in a research note on Friday, February 6th. Jefferies Financial Group boosted 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 raised their price target on Excelerate Energy from $29.00 to $39.00 and gave the company an “equal weight” rating in a report on Friday, February 27th. Finally, Raymond James Financial raised shares of Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 price objective for the company in a research report on Monday, January 5th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Excelerate Energy presently has an average rating of “Moderate Buy” and a consensus price target of $39.00.

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.