Excelerate Energy, Inc. (NYSE:EE) Sees Significant Drop in Short Interest

Excelerate Energy, Inc. (NYSE:EE) was the target of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 935,800 shares, a decline of 13.4% from the October 15th total of 1,080,000 shares. Based on an average trading volume of 215,900 shares, the days-to-cover ratio is currently 4.3 days. Currently, 3.8% of the shares of the company are sold short.

Excelerate Energy Trading Down 0.1 %

NYSE EE traded down $0.04 on Friday, hitting $27.54. 244,723 shares of the company were exchanged, compared to its average volume of 215,594. Excelerate Energy has a twelve month low of $13.38 and a twelve month high of $28.60. The company’s 50 day moving average price is $22.91 and its 200-day moving average price is $20.00. The firm has a market capitalization of $2.95 billion, a P/E ratio of 27.80 and a beta of 1.28. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.12 and a quick ratio of 4.12.

Excelerate Energy (NYSE:EE) last released its earnings results on Wednesday, November 6th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Excelerate Energy had a return on equity of 1.39% and a net margin of 3.14%. The company had revenue of $193.42 million during the quarter, compared to analyst estimates of $194.09 million. During the same quarter in the prior year, the company earned $0.40 earnings per share. Analysts predict that Excelerate Energy will post 1.18 earnings per share for the current fiscal year.

Excelerate Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Wednesday, November 20th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This is an increase from Excelerate Energy’s previous quarterly dividend of $0.03. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.87%. Excelerate Energy’s dividend payout ratio is 24.24%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on EE. Barclays lifted their target price on Excelerate Energy from $22.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Stephens increased their target price on Excelerate Energy from $21.00 to $28.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Wells Fargo & Company boosted their price target on shares of Excelerate Energy from $19.00 to $22.00 and gave the company an “underweight” rating in a report on Tuesday. Morgan Stanley increased their price objective on shares of Excelerate Energy from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Northland Securities boosted their target price on shares of Excelerate Energy from $25.00 to $29.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Excelerate Energy presently has a consensus rating of “Moderate Buy” and an average price target of $25.43.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Excelerate Energy in the third quarter worth about $4,385,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Excelerate Energy in the first quarter valued at approximately $2,202,000. Algert Global LLC acquired a new position in Excelerate Energy during the 2nd quarter worth $1,915,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Excelerate Energy during the 2nd quarter worth about $1,569,000. Finally, Tortoise Capital Advisors L.L.C. boosted its position in shares of Excelerate Energy by 10.1% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 814,090 shares of the company’s stock valued at $15,012,000 after acquiring an additional 74,946 shares during the period. Hedge funds and other institutional investors own 21.79% of the company’s stock.

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.