Excelerate Energy appoints Tyler Todd to board

THE WOODLANDS, Texas - Excelerate Energy Inc. (NYSE: EE), a U.S.-based liquefied natural gas (LNG) company, announced the appointment of Tyler D. Todd to its Board of Directors, effective as of Monday. This board change coincided with the retirement of Henry G. "Buddy" Kleemeier on Sunday.

Todd currently holds the position of Senior Vice President of Business Development at Kaiser-Francis Oil Company, which is under the control of George Kaiser, Excelerate Energy’s major stockholder. With a history at Kaiser-Francis Oil Company since 2014, Todd has also served in various positions at WPX Energy (NYSE:WPX), Inc. His industry involvement extends to directorship at Endeavor Natural Gas III and membership on the advisory board for the Mewbourne School of Petroleum & Geological Engineering at the University of Oklahoma. His academic credentials include a bachelor’s degree from the University of Oklahoma and an MBA from Harvard University.

Steven Kobos, President and CEO of Excelerate, expressed enthusiasm for Todd's addition to the board, citing his operational, technical, and strategic planning expertise. Kobos also paid tribute to Kleemeier's contributions during his tenure on the board, acknowledging his leadership, mentorship, and friendship.

Excelerate Energy operates globally, offering integrated services along the LNG value chain, aiming to provide rapid-to-market and reliable LNG solutions. The company's operations span various international locations, including offices in Abu Dhabi, Buenos Aires, and Singapore.

The information in this article is based on a press release statement from Excelerate Energy, Inc.

In other recent news, Excelerate Energy has been the subject of contrasting analyst outlooks. Stephens upgraded the firm's stock target to $28, maintaining an Overweight rating due to the company's promising growth prospects. This optimism is grounded in the expected rise in global liquefied natural gas supply and the company's strategic infrastructure projects, including the delivery of a newbuild floating storage regasification unit in 2026.

However, Wells Fargo downgraded Excelerate Energy's stock to Underweight, adjusting the price target to $19 due to concerns about the company's unclear growth prospects and limited capital returns. The firm's financial model assumes a continued capital expenditure run-rate of approximately $130 million per year, with an anticipated spend of $280 million on Excelerate's new floating storage regasification unit.

Despite these divergent views, Excelerate Energy reported an 18% increase in adjusted EBITDA to $89 million in Q2 2024. The company is advancing strategic investments in Vietnam and Alaska, aiming to meet increasing global demand for LNG. It has also raised its financial guidance for 2024, expecting adjusted EBITDA to be between $320 million and $340 million. These are recent developments in Excelerate Energy's ongoing operations and strategic initiatives.

InvestingPro Insights

As Excelerate Energy Inc. (NYSE: EE) welcomes Tyler D. Todd to its Board of Directors, investors might be interested in some key financial metrics and insights provided by InvestingPro.

Excelerate Energy's market capitalization stands at $2.42 billion, reflecting its significant presence in the LNG industry. The company's P/E ratio of 17.54 suggests that investors are willing to pay a premium for its earnings, possibly due to growth expectations or the company's strategic position in the energy sector.

InvestingPro Tips highlight that Excelerate Energy's net income is expected to grow this year, which aligns with the company's global expansion and integrated LNG services strategy. This positive outlook is further supported by the fact that analysts predict the company will be profitable this year.

However, it's worth noting that the company is trading at a high Price / Book multiple of 5.07, which could indicate that the stock is relatively expensive compared to its book value. This valuation metric should be considered alongside the company's growth prospects and industry positioning.

Excelerate Energy has shown strong recent performance, with a notable 24.64% return over the last month and a 17.41% return over the last three months. This positive momentum coincides with the board changes and could reflect investor optimism about the company's direction.

For investors seeking a more comprehensive analysis, InvestingPro offers 12 additional tips for Excelerate Energy, providing a deeper understanding of the company's financial health and market position.

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