Excelerate Energy, Inc. (NYSE:EE) Announces $0.03 Quarterly Dividend

Excelerate Energy, Inc. (NYSE:EE) declared a quarterly dividend on Thursday, May 2nd, Zacks reports. Shareholders of record on Wednesday, May 22nd will be paid a dividend of 0.025 per share on Thursday, June 6th. This represents a $0.10 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Tuesday, May 21st.

Excelerate Energy has a payout ratio of 8.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Excelerate Energy to earn $1.21 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 8.3%.

Excelerate Energy Stock Up 1.1 %

Shares of EE stock traded up $0.19 during trading hours on Friday, hitting $17.41. 151,122 shares of the company were exchanged, compared to its average volume of 198,734. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 16.89 and a beta of 1.30. Excelerate Energy has a one year low of $13.38 and a one year high of $22.42. The business’s 50-day simple moving average is $15.87 and its two-hundred day simple moving average is $15.63. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.42 and a current ratio of 3.43.

Excelerate Energy (NYSE:EE) last released its earnings results on Wednesday, February 28th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.03). Excelerate Energy had a return on equity of 1.83% and a net margin of 2.62%. The firm had revenue of $240.06 million for the quarter, compared to the consensus estimate of $265.31 million. Sell-side analysts predict that Excelerate Energy will post 1.16 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on EE shares. Morgan Stanley dropped their target price on shares of Excelerate Energy from $30.00 to $19.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 13th. Stephens began coverage on Excelerate Energy in a research note on Tuesday. They set an “overweight” rating and a $21.00 price objective for the company. Northland Securities assumed coverage on shares of Excelerate Energy in a report on Monday, February 26th. They set an “outperform” rating and a $23.00 price target for the company. StockNews.com raised shares of Excelerate Energy from a “sell” rating to a “hold” rating in a report on Saturday, March 9th. Finally, Raymond James reduced their target price on shares of Excelerate Energy from $26.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, January 19th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.75.

Excelerate Energy Company Profile

Excelerate Energy, Inc provides flexible liquefied natural gas (LNG) solutions worldwide. The company offers regasification services, including floating storage and regasification units (FSRUs), infrastructure development, and LNG and natural gas supply, procurement, and distribution services; LNG terminal services; and natural gas supply to-power projects.