Excelerate Energy (NYSE:EE) Shares Down 3.4% Following Insider Selling

Shares of Excelerate Energy, Inc. (NYSE:EE) fell 3.4% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $33.14 and last traded at $33.3650. 49,721 shares changed hands during trading, a decline of 89% from the average session volume of 466,055 shares. The stock had previously closed at $34.54.

Specifically, insider Oliver Simpson sold 6,000 shares of the company’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $34.15, for a total value of $204,900.00. Following the transaction, the insider directly owned 51,719 shares of the company’s stock, valued at $1,766,203.85. This represents a 10.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EE. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $44.00 price target on shares of Excelerate Energy in a report on Friday, February 6th. Northland Securities set a $50.00 price objective on Excelerate Energy in a report on Friday, January 30th. Wells Fargo & Company raised their price objective on shares of Excelerate Energy from $29.00 to $39.00 and gave the company an “equal weight” rating in a research report on Friday, February 27th. Raymond James Financial upgraded shares of Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 target price for the company in a research note on Monday, January 5th. Finally, 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. 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $39.00.

Excelerate Energy Stock Performance

The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.43 and a current ratio of 2.43. The firm has a 50 day moving average price of $37.20 and a 200-day moving average price of $30.48. The company has a market cap of $3.82 billion, a P/E ratio of 25.36, a P/E/G ratio of 1.09 and a beta of 1.34.

Excelerate Energy (NYSE:EE) last released 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 the consensus estimate of $293.49 million. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.40 EPS. On average, research analysts predict that Excelerate Energy, Inc. will post 1.16 EPS for the current year.

Excelerate Energy Announces Dividend

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 issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, March 11th. Excelerate Energy’s dividend payout ratio (DPR) is 24.24%.

Excelerate Energy declared that its board has authorized a share buyback program on Thursday, December 11th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to buy up to 2.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Excelerate Energy

A number of hedge funds have recently bought and sold shares of EE. KLP Kapitalforvaltning AS lifted its position in shares of Excelerate Energy by 645.2% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 69,300 shares of the company’s stock worth $1,746,000 after purchasing an additional 60,000 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Excelerate Energy by 153.5% during the 3rd quarter. Principal Financial Group Inc. now owns 41,518 shares of the company’s stock valued at $1,046,000 after purchasing an additional 25,139 shares during the period. Knights of Columbus Asset Advisors LLC acquired a new stake in Excelerate Energy in the 3rd quarter valued at approximately $1,845,000. Fortress Investment Group LLC acquired a new stake in Excelerate Energy in the 2nd quarter valued at approximately $3,130,000. Finally, JPMorgan Chase & Co. increased its position in Excelerate Energy by 37.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 408,152 shares of the company’s stock worth $10,281,000 after buying an additional 110,970 shares during the period. 21.79% of the stock is currently owned by institutional investors.

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.