Excelerate Energy, Inc. (NYSE:EE) Sees Large Increase in Short Interest

Excelerate Energy, Inc. (NYSE:EE) saw a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 1,417,543 shares, an increase of 52.4% from the February 26th total of 930,001 shares. Approximately 1.3% of the company’s shares are short sold. Based on an average trading volume of 652,026 shares, the days-to-cover ratio is currently 2.2 days.

Excelerate Energy Stock Performance

NYSE EE traded up $0.35 during trading on Friday, reaching $33.51. The company’s stock had a trading volume of 602,151 shares, compared to its average volume of 590,161. The firm has a 50 day moving average price of $37.21 and a 200 day moving average price of $30.67. Excelerate Energy has a 12 month low of $21.28 and a 12 month high of $43.17. The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of 25.39, a price-to-earnings-growth ratio of 1.05 and a beta of 1.34. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 0.54.

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

Excelerate Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Wednesday, March 11th were issued a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $0.32 annualized dividend and a yield of 1.0%. Excelerate Energy’s payout ratio is currently 24.24%.

Excelerate Energy declared that its Board of Directors has authorized a stock buyback plan on Thursday, December 11th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, insider Oliver Simpson sold 6,000 shares of the company’s stock in a transaction on Friday, March 20th. The stock was sold at an average price of $34.15, for a total transaction of $204,900.00. Following the transaction, the insider owned 51,719 shares of the company’s stock, valued at $1,766,203.85. This represents a 10.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.83% of the stock is owned by company insiders.

Institutional Trading of Excelerate Energy

Several large investors have recently modified their holdings of EE. Martingale Asset Management L P raised its holdings in shares of Excelerate Energy by 0.4% during the 4th quarter. Martingale Asset Management L P now owns 74,192 shares of the company’s stock worth $2,081,000 after buying an additional 281 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Excelerate Energy by 19.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,438 shares of the company’s stock worth $61,000 after buying an additional 392 shares during the last quarter. Bailard Inc. boosted its stake in Excelerate Energy by 1.6% in the third quarter. Bailard Inc. now owns 25,500 shares of the company’s stock valued at $642,000 after buying an additional 400 shares in the last quarter. Summit Global Investments grew its position in Excelerate Energy by 3.2% in the third quarter. Summit Global Investments now owns 12,973 shares of the company’s stock valued at $327,000 after acquiring an additional 406 shares during the last quarter. Finally, New York State Teachers Retirement System grew its position in Excelerate Energy by 32.8% in the third quarter. New York State Teachers Retirement System now owns 2,081 shares of the company’s stock valued at $52,000 after acquiring an additional 514 shares during the last quarter. 21.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Excelerate Energy in a report on Monday, December 29th. Wall Street Zen lowered shares of Excelerate Energy from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Northland Securities set a $50.00 price target on shares of Excelerate Energy in a research report on Friday, January 30th. 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 research note on Tuesday, February 24th. Finally, Wells Fargo & Company increased their price objective on shares of Excelerate Energy from $29.00 to $39.00 and gave the company an “equal weight” rating in a report on Friday, February 27th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $39.00.

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.