PNC Financial Services Group Inc. Increases Stake in Excelerate Energy, Inc. by Almost 100% as Company Sees Impressive Q1 Earnin

PNC Financial Services Group Inc. Increases Stake in Excelerate Energy, Inc. by Almost 100% as Company Sees Impressive Q1 Earnin
Written by Amanda

On April 14th, PNC Financial Services Group Inc. announced that it had raised its stake in Excelerate Energy, Inc. by a staggering 97.9% during the fourth quarter of last year. According to recent disclosures made with the Securities and Exchange Commission (SEC), following the purchase of an additional 7,940 shares during Q4, the financial firm now has ownership of over 16,000 shares in EE’s holding stock. This new acquisition values at a total worth of $402,000 as of the latest SEC filing.

Excelerate Energy is primarily famous for providing flexible liquefied natural gas (LNG) solutions worldwide. They are renowned for their floating regasification units (FSRUs) services and infrastructure development practices that have successfully managed to make them a crucial player in both LNG and natural gas procurement and distribution markets.

More exciting news came to light when Excelerate Energy released their earnings statement on March 27th, which showed an EPS of $0.26 per share for Q1 this year, surpassing every expectation projected by sell-side analysts by an impressive margin. The company’s revenue was also higher than expected at $455.11 million compared to consensus estimates of $206.11 million.

These results come amidst an ongoing transformation within both the oil and gas energy sector as well as other long-standing industries that are being impacted by changing consumer behaviours throughout the world due to climate change issues and efforts to reduce carbon emissions.

Excelerate Energy Inc.’s focus on researching environmentally aware solutions has ensured its continued growth in the market regardless of these external challenges posed by climate change concerns related to operational sustainability standards.

The future certainly looks bright for Excelerate Energy as more investors invest their funds into their stocks and they continue on their trajectory towards designing sustainable energy solutions that tackle environmental issues while preserving industry growth – undoubtedly points where PNC Financial Services Group will play a pivotal role!



Updated on: 05/06/2023

Price Target

Current $19.60

Concensus $29.00

Low $29.00

Median $29.00

High $29.00

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Social Sentiments

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Analyst Ratings

Analyst / firm Rating
Michael Blum
Wells Fargo

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Excelerate Energy: Providing Flexible LNG Solutions Globally

Excelerate Energy: Providing Flexible Liquefied Natural Gas Solutions Worldwide

Excelerate Energy, Inc. is a global leader in providing flexible solutions for liquefied natural gas (LNG). The company offers a wide range of services that include floating storage and regasification units (FSRUs), infrastructure development, and natural gas procurement and distribution. Recently, the Royal Bank of Canada increased its position in Excelerate Energy by 3.6% during the third quarter, with other institutional investors following suit.

With a market cap of $2.19 billion, NYSE:EE opened at $20.24 on Monday, displaying a beta of 1.21 and a P/E ratio of 26.29. The company’s one-year high was $31.13 while its one-year low was recorded at $18.27.

Excelerate Energy specializes in floating regasification services where it uses FSRUs to offer LNG importation to countries without LNG infrastructure or as an alternative to expand existing capabilities without building new infrastructure. Additionally, the company offers natural gas supply-to-power projects and several distribution solutions suited for small-scale operations.

As per a recent disclosure by Excelerate Energy, Inc., the quarterly dividend will be paid on Thursday, June 8th with shareholders of record on Wednesday, May 24th being issued a dividend of $0.025 per share that would represent an annualized payout ratio of 12.99%.

Investment analysts have also recently given their ratings for Excelerate Energy suggesting moderate buy and placing the average target price at around $30.75 per share.

As our energy needs continue to evolve complexly over time to cater to larger populations across continents, businesses like Excelerate Energy are well poised to make lucrative gains from their expertise while meeting diverse customer demands worldwide.

Source: beststocks.com

About the author


Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai