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

Excelerate Energy, Inc. (NYSE:EE) was the target of a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 827,500 shares, a decline of 11.6% from the October 31st total of 935,800 shares. Based on an average trading volume of 243,400 shares, the short-interest ratio is presently 3.4 days. Currently, 3.4% of the company’s shares are short sold.

Institutional Investors Weigh In On Excelerate Energy

A number of institutional investors and hedge funds have recently made changes to their positions in EE. Public Employees Retirement System of Ohio acquired a new position in shares of Excelerate Energy in the first quarter valued at approximately $38,000. Bailard Inc. acquired a new stake in shares of Excelerate Energy in the 2nd quarter worth $297,000. nVerses Capital LLC purchased a new stake in shares of Excelerate Energy in the second quarter valued at about $26,000. Rhumbline Advisers increased its stake in shares of Excelerate Energy by 9.6% during the second quarter. Rhumbline Advisers now owns 29,243 shares of the company’s stock worth $539,000 after acquiring an additional 2,553 shares during the period. Finally, Tortoise Capital Advisors L.L.C. lifted its position in 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 purchasing an additional 74,946 shares during the period. 21.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Northland Securities lifted their target price on Excelerate Energy from $25.00 to $29.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Wells Fargo & Company increased their target price on shares of Excelerate Energy from $19.00 to $22.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 12th. Morgan Stanley lifted their price target on shares of Excelerate Energy from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Stephens increased their price objective on shares of Excelerate Energy from $21.00 to $28.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, Barclays boosted their target price on Excelerate Energy from $22.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $25.67.

Excelerate Energy Stock Up 0.9 %

Shares of NYSE EE traded up $0.28 during midday trading on Friday, hitting $30.97. 138,272 shares of the company’s stock were exchanged, compared to its average volume of 297,502. The firm’s fifty day simple moving average is $25.05 and its 200-day simple moving average is $20.88. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.12 and a quick ratio of 4.12. The company has a market cap of $3.29 billion, a PE ratio of 31.28, a P/E/G ratio of 2.25 and a beta of 1.28. Excelerate Energy has a twelve month low of $13.38 and a twelve month high of $31.89.

Excelerate Energy (NYSE:EE) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.32 by $0.03. The firm had revenue of $193.42 million for the quarter, compared to analyst estimates of $194.09 million. Excelerate Energy had a net margin of 3.14% and a return on equity of 1.39%. During the same period last year, the business earned $0.40 EPS. Research analysts predict that Excelerate Energy will post 1.23 EPS for the current fiscal year.

Excelerate Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Wednesday, November 20th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.24 dividend on an annualized basis and a yield of 0.77%. This is a boost from Excelerate Energy’s previous quarterly dividend of $0.03. Excelerate Energy’s dividend payout ratio is currently 24.24%.

About Excelerate Energy

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.