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

Excelerate Energy, Inc. (NYSE:EE) saw a significant decrease in short interest in January. As of January 15th, there was short interest totaling 1,294,551 shares, a decrease of 18.1% from the December 31st total of 1,579,808 shares. Approximately 1.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 321,295 shares, the short-interest ratio is presently 4.0 days. Based on an average daily trading volume, of 321,295 shares, the short-interest ratio is presently 4.0 days. Approximately 1.2% of the shares of the stock are sold short.

Excelerate Energy Stock Down 2.3%

NYSE EE traded down $0.85 during mid-day trading on Wednesday, hitting $35.70. The company’s stock had a trading volume of 394,220 shares, compared to its average volume of 409,923. The firm has a market capitalization of $4.07 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 1.46 and a beta of 1.36. The company’s 50 day simple moving average is $30.15 and its 200 day simple moving average is $27.06. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 0.56. Excelerate Energy has a twelve month low of $21.28 and a twelve month high of $37.58.

Excelerate Energy (NYSE:EE) last posted its earnings results on Wednesday, November 5th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.13. The company had revenue of $391.04 million for the quarter, compared to analyst estimates of $270.82 million. Excelerate Energy had a return on equity of 4.34% and a net margin of 3.46%.The business’s quarterly revenue was up 102.2% compared to the same quarter last year. Analysts anticipate that Excelerate Energy will post 1.16 earnings per share for the current year.

Excelerate Energy declared that its board has authorized a stock buyback plan on Thursday, December 11th that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Excelerate Energy

A number of hedge funds have recently modified their holdings of the stock. KLP Kapitalforvaltning AS lifted its holdings in 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 in the last quarter. Fortress Investment Group LLC bought a new stake in shares of Excelerate Energy during the second quarter valued at about $3,130,000. Knights of Columbus Asset Advisors LLC purchased a new stake in shares of Excelerate Energy in the third quarter worth about $1,845,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Excelerate Energy during the second quarter valued at approximately $519,000. Finally, Hillsdale Investment Management Inc. grew its stake in Excelerate Energy by 32.9% during the second quarter. Hillsdale Investment Management Inc. now owns 171,700 shares of the company’s stock valued at $5,034,000 after acquiring an additional 42,500 shares in the last quarter. Institutional investors own 21.79% of the company’s stock.

Analysts Set New Price Targets

EE has been the subject of several recent research reports. Raymond James Financial upgraded shares of Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 price target for the company in a research report on Monday, January 5th. Jefferies Financial Group increased their price objective on Excelerate Energy from $37.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Wall Street Zen raised Excelerate Energy from a “hold” rating to a “buy” rating in a report on Sunday, January 11th. Tudor Pickering raised Excelerate Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 17th. Finally, Morgan Stanley set a $30.00 price objective on Excelerate Energy and gave the stock an “equal weight” rating in a research report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $34.56.

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.