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

Excelerate Energy, Inc. (NYSE:EEGet Free Report) saw a significant decline in short interest in May. As of May 31st, there was short interest totalling 664,300 shares, a decline of 7.2% from the May 15th total of 715,900 shares. Based on an average daily trading volume, of 197,300 shares, the short-interest ratio is currently 3.4 days. Currently, 2.7% of the shares of the company are short sold.

Analyst Ratings Changes

Several brokerages recently weighed in on EE. Stephens assumed coverage on Excelerate Energy in a research note on Tuesday, April 30th. They issued an “overweight” rating and a $21.00 price target for the company. StockNews.com upgraded Excelerate Energy from a “sell” rating to a “hold” rating in a research report on Saturday, March 9th. Finally, Northland Securities began coverage on shares of Excelerate Energy in a research note on Monday, February 26th. They set an “outperform” rating and a $23.00 target price on the stock. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Excelerate Energy has a consensus rating of “Moderate Buy” and a consensus price target of $22.75.

Read Our Latest Analysis on Excelerate Energy

Excelerate Energy Trading Up 1.6 %

NYSE:EE traded up $0.28 during trading hours on Wednesday, hitting $17.49. The company had a trading volume of 217,977 shares, compared to its average volume of 205,853. The company has a 50-day moving average of $17.29 and a 200 day moving average of $15.97. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.37. The company has a market cap of $1.87 billion, a P/E ratio of 17.35 and a beta of 1.31. Excelerate Energy has a 1 year low of $13.38 and a 1 year high of $22.42.

Excelerate Energy (NYSE:EEGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.03. Excelerate Energy had a net margin of 2.60% and a return on equity of 1.66%. The firm had revenue of $200.11 million for the quarter, compared to analyst estimates of $255.26 million. Sell-side analysts expect that Excelerate Energy will post 1.28 earnings per share for the current year.

Excelerate Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Wednesday, May 22nd were issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Tuesday, May 21st. Excelerate Energy’s dividend payout ratio (DPR) is currently 9.90%.

Hedge Funds Weigh In On Excelerate Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Walleye Capital LLC acquired a new position in Excelerate Energy in the third quarter valued at $1,451,000. Quest Partners LLC acquired a new position in shares of Excelerate Energy in the 4th quarter valued at $409,000. Pacer Advisors Inc. boosted its stake in Excelerate Energy by 16.5% during the 4th quarter. Pacer Advisors Inc. now owns 48,576 shares of the company’s stock worth $751,000 after purchasing an additional 6,890 shares during the period. Adage Capital Partners GP L.L.C. grew its position 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 last quarter. Finally, Trexquant Investment LP acquired a new position in Excelerate Energy in the fourth quarter valued at $1,153,000. Hedge funds and other institutional investors own 21.79% of the company’s stock.

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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