Short Interest in Excelerate Energy, Inc. (NYSE:EE) Increases By 15.5%

Excelerate Energy, Inc. (NYSE:EE) was the recipient of a significant increase in short interest during the month of February. As of February 27th, there was short interest totaling 930,001 shares, an increase of 15.5% from the February 12th total of 805,066 shares. Currently, 0.8% of the shares of the company are short sold. Based on an average trading volume of 523,071 shares, the days-to-cover ratio is currently 1.8 days. Based on an average trading volume of 523,071 shares, the days-to-cover ratio is currently 1.8 days. Currently, 0.8% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on EE shares. Wall Street Zen lowered shares of Excelerate Energy from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Dnb Carnegie lowered Excelerate Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 19th. Weiss Ratings reissued a “hold (c)” rating on shares of Excelerate Energy in a research report on Monday, December 29th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $44.00 target price on shares of Excelerate Energy in a research note on Friday, February 6th. Finally, Wells Fargo & Company upped their price target on Excelerate Energy from $29.00 to $39.00 and gave the company an “equal weight” rating in a research report on Friday, February 27th. Two research 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 company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $39.00.

Hedge Funds Weigh In On Excelerate Energy

Hedge funds have recently made changes to their positions in the stock. Copeland Capital Management LLC purchased a new stake in Excelerate Energy during the 4th quarter worth about $30,658,000. Wellington Management Group LLP grew its holdings in Excelerate Energy by 24.9% during the 4th quarter. Wellington Management Group LLP now owns 3,607,182 shares of the company’s stock valued at $101,181,000 after buying an additional 719,148 shares in the last quarter. Qube Research & Technologies Ltd grew its holdings in Excelerate Energy by 328.4% during the 2nd quarter. Qube Research & Technologies Ltd now owns 453,345 shares of the company’s stock valued at $13,292,000 after buying an additional 347,521 shares in the last quarter. Kayne Anderson Capital Advisors LP increased its position in shares of Excelerate Energy by 77.3% during the third quarter. Kayne Anderson Capital Advisors LP now owns 781,623 shares of the company’s stock valued at $19,689,000 after buying an additional 340,747 shares during the period. Finally, Squarepoint Ops LLC increased its position in shares of Excelerate Energy by 219.5% during the third quarter. Squarepoint Ops LLC now owns 348,394 shares of the company’s stock valued at $8,776,000 after buying an additional 239,358 shares during the period. 21.79% of the stock is currently owned by hedge funds and other institutional investors.

Excelerate Energy Price Performance

EE opened at $34.05 on Thursday. The firm has a 50-day moving average price of $36.89 and a 200-day moving average price of $30.12. Excelerate Energy has a twelve month low of $21.28 and a twelve month high of $43.17. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 25.79, a PEG ratio of 1.09 and a beta of 1.34.

Excelerate Energy (NYSE:EE) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The business had revenue of $317.57 million for 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 earnings per share. Equities analysts expect that Excelerate Energy will post 1.16 EPS for the current year.

Excelerate Energy announced that its board has initiated a stock repurchase program on Thursday, December 11th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Excelerate Energy Dividend Announcement

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

About Excelerate Energy

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.