Excelerate Energy, Inc. (NYSE:EE) Short Interest Up 33.5% in March

Excelerate Energy, Inc. (NYSE:EE) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totaling 1,892,975 shares, an increase of 33.5% from the March 15th total of 1,417,543 shares. Approximately 1.7% of the shares of the company are sold short. Based on an average trading volume of 545,531 shares, the days-to-cover ratio is currently 3.5 days.

Analyst Ratings Changes

Several research analysts have commented on EE shares. Raymond James Financial raised Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 target price for the company in a research note on Monday, January 5th. Dnb Carnegie downgraded Excelerate Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 19th. Northland Securities set a $50.00 target price on Excelerate Energy in a research note on Friday, January 30th. Wall Street Zen downgraded Excelerate Energy from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. Finally, Jefferies Financial Group boosted their target price on Excelerate Energy from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $39.00.

Insider Activity

In other news, insider Oliver Simpson sold 6,000 shares of the business’s stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $34.15, for a total value of $204,900.00. Following the completion of the sale, the insider owned 51,719 shares of the company’s stock, valued at approximately $1,766,203.85. The trade was a 10.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.83% of the company’s stock.

Institutional Trading of Excelerate Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Arax Advisory Partners grew its holdings in shares of Excelerate Energy by 791.9% during the fourth quarter. Arax Advisory Partners now owns 883 shares of the company’s stock worth $25,000 after purchasing an additional 784 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in Excelerate Energy in the third quarter valued at approximately $30,000. Global Retirement Partners LLC bought a new stake in Excelerate Energy in the fourth quarter valued at approximately $33,000. Aster Capital Management DIFC Ltd bought a new stake in Excelerate Energy in the third quarter valued at approximately $38,000. Finally, Essex Investment Management Co. LLC bought a new stake in Excelerate Energy in the fourth quarter valued at approximately $41,000. 21.79% of the stock is currently owned by institutional investors.

Excelerate Energy Trading Up 2.5%

Shares of NYSE:EE traded up $0.86 during midday trading on Friday, hitting $34.92. 384,169 shares of the stock were exchanged, compared to its average volume of 464,524. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of 26.45, a P/E/G ratio of 1.08 and a beta of 1.41. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.43 and a current ratio of 2.43. The business’s 50-day moving average price is $36.67 and its 200 day moving average price is $31.47. Excelerate Energy has a 12 month low of $21.28 and a 12 month high of $43.17.

Excelerate Energy (NYSE:EE) last released 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 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 business’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 earnings per share. Analysts predict that Excelerate Energy will post 1.16 earnings per share for the current year.

Excelerate Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Wednesday, March 11th. Excelerate Energy’s payout ratio is 24.24%.

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.