Short Interest in Excelerate Energy, Inc. (NYSE:EE) Declines By 14.3%

Excelerate Energy, Inc. (NYSE:EE) was the target of a significant decline in short interest in February. As of February 13th, there was short interest totaling 805,066 shares, a decline of 14.3% from the January 29th total of 939,408 shares. Approximately 0.7% of the company’s stock are short sold. Based on an average daily volume of 338,668 shares, the days-to-cover ratio is currently 2.4 days. Based on an average daily volume of 338,668 shares, the days-to-cover ratio is currently 2.4 days. Approximately 0.7% of the company’s stock are short sold.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on EE. Raymond James Financial raised Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 price objective for the company in a research report on Monday, January 5th. Wells Fargo & Company lifted their price objective on shares of Excelerate Energy from $29.00 to $39.00 and gave the company an “equal weight” rating in a research note on Friday, February 27th. Northland Securities set a $50.00 price target on Excelerate Energy in a research report on Friday, January 30th. Tudor Pickering raised shares of Excelerate Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 17th. Finally, Morgan Stanley boosted their price target on shares of Excelerate Energy from $30.00 to $40.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 24th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $39.00.

Excelerate Energy Trading Down 6.5%

Excelerate Energy stock traded down $2.50 during midday trading on Thursday, hitting $35.98. 1,174,859 shares of the stock were exchanged, compared to its average volume of 457,805. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.54. The stock’s 50-day simple moving average is $35.53 and its 200 day simple moving average is $29.36. Excelerate Energy has a fifty-two week low of $21.28 and a fifty-two week high of $43.17. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of 27.26, a PEG ratio of 1.26 and a beta of 1.34.

Excelerate Energy (NYSE:EE) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). The firm had revenue of $317.57 million during the quarter, compared to analysts’ expectations of $293.49 million. Excelerate Energy had a net margin of 3.19% and a return on equity of 4.12%. The business’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period last year, the company earned $0.40 EPS. On average, equities analysts anticipate that Excelerate Energy will post 1.16 EPS for the current year.

Excelerate Energy announced that its board has approved a share buyback plan on Thursday, December 11th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Excelerate Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Wednesday, March 11th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $0.32 annualized dividend and a yield of 0.9%. Excelerate Energy’s dividend payout ratio (DPR) is 24.24%.

Hedge Funds Weigh In On Excelerate Energy

A number of hedge funds have recently modified their holdings of the business. Arax Advisory Partners raised its holdings in Excelerate Energy by 791.9% in the 4th quarter. Arax Advisory Partners now owns 883 shares of the company’s stock valued at $25,000 after buying an additional 784 shares during the period. AlphaQuest LLC acquired a new stake in shares of Excelerate Energy during the second quarter valued at about $30,000. State of Alaska Department of Revenue purchased a new stake in shares of Excelerate Energy in the 3rd quarter valued at approximately $30,000. Global Retirement Partners LLC acquired a new position in shares of Excelerate Energy in the 4th quarter worth approximately $33,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Excelerate Energy during the 3rd quarter worth approximately $38,000. 21.79% of the stock is currently owned by hedge funds and other institutional investors.

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.