Excelerate Energy, Inc. (NYSE:EE) Short Interest Update

Excelerate Energy, Inc. (NYSE:EEGet Free Report) saw a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 598,800 shares, an increase of 10.5% from the February 29th total of 541,900 shares. Based on an average trading volume of 218,900 shares, the short-interest ratio is currently 2.7 days. Approximately 2.4% of the company’s stock are sold short.

Excelerate Energy Trading Down 4.2 %

Excelerate Energy stock traded down $0.66 during midday trading on Tuesday, reaching $15.20. The stock had a trading volume of 221,287 shares, compared to its average volume of 220,929. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 14.76 and a beta of 1.41. The company has a fifty day moving average of $15.07 and a 200 day moving average of $15.69. Excelerate Energy has a 52-week low of $13.38 and a 52-week high of $24.00. The company has a quick ratio of 3.42, a current ratio of 3.43 and a debt-to-equity ratio of 0.38.

Excelerate Energy (NYSE:EEGet Free Report) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.03). The business had revenue of $240.06 million for the quarter, compared to the consensus estimate of $265.31 million. Excelerate Energy had a net margin of 2.62% and a return on equity of 1.83%. On average, analysts anticipate that Excelerate Energy will post 1.1 earnings per share for the current fiscal year.

Excelerate Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th were issued a $0.025 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.66%. Excelerate Energy’s dividend payout ratio is currently 9.71%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Walleye Capital LLC acquired a new stake in shares of Excelerate Energy in the third quarter valued at about $1,451,000. Adage Capital Partners GP L.L.C. boosted its stake in Excelerate Energy by 19.0% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 312,500 shares of the company’s stock worth $5,325,000 after purchasing an additional 50,000 shares during the period. Swiss National Bank raised its position in Excelerate Energy by 2.0% during the 3rd quarter. Swiss National Bank now owns 40,400 shares of the company’s stock worth $688,000 after buying an additional 800 shares during the last quarter. Viking Fund Management LLC lifted its stake in shares of Excelerate Energy by 25.0% in the fourth quarter. Viking Fund Management LLC now owns 100,000 shares of the company’s stock valued at $1,546,000 after purchasing an additional 20,000 shares during the period. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Excelerate Energy by 32.1% in the third quarter. Exchange Traded Concepts LLC now owns 21,551 shares of the company’s stock valued at $367,000 after purchasing an additional 5,240 shares during the period. Hedge funds and other institutional investors own 21.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on EE shares. Morgan Stanley cut their price objective on shares of Excelerate Energy from $30.00 to $19.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 13th. Wells Fargo & Company downgraded shares of Excelerate Energy from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $20.00 to $18.00 in a research report on Thursday, December 14th. Raymond James cut their price objective on shares of Excelerate Energy from $26.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, January 19th. Northland Securities assumed coverage on shares of Excelerate Energy in a report on Monday, February 26th. They issued an “outperform” rating and a $23.00 target price for the company. Finally, StockNews.com raised shares of Excelerate Energy from a “sell” rating to a “hold” rating in a report on Saturday, March 9th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $24.00.

Read Our Latest Research Report on Excelerate Energy

Excelerate Energy Company Profile

(Get Free Report)

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.

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