Short Interest in Excelerate Energy, Inc. (NYSE:EE) Expands By 10.5%

Excelerate Energy, Inc. (NYSE:EEGet Free Report) was the recipient of a large increase in short interest in 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. Approximately 2.4% of the shares of the stock are short sold. Based on an average trading volume of 218,900 shares, the short-interest ratio is presently 2.7 days.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Walleye Capital LLC purchased a new position in Excelerate Energy during the third quarter valued at $1,451,000. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Excelerate Energy by 19.0% during the third quarter. Adage Capital Partners GP L.L.C. now owns 312,500 shares of the company’s stock valued at $5,325,000 after purchasing an additional 50,000 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Excelerate Energy by 2.0% during the third quarter. Swiss National Bank now owns 40,400 shares of the company’s stock valued at $688,000 after purchasing an additional 800 shares in the last quarter. Viking Fund Management LLC lifted its holdings in shares of Excelerate Energy by 25.0% during 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 in the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Excelerate Energy by 32.1% during 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 in the last quarter. Hedge funds and other institutional investors own 21.79% of the company’s stock.

Excelerate Energy Trading Down 4.2 %

NYSE EE opened at $15.20 on Wednesday. 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 has a twelve month low of $13.38 and a twelve month high of $24.00. The firm has a market capitalization of $1.65 billion, a PE ratio of 14.76 and a beta of 1.41. The stock’s 50 day moving average is $15.07 and its 200 day moving average is $15.69.

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

Excelerate Energy Dividend Announcement

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

Analyst Upgrades and Downgrades

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

View Our Latest Stock Analysis on EE

About Excelerate Energy

(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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