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 March. As of March 31st, there was short interest totalling 558,800 shares, a decline of 6.7% from the March 15th total of 598,800 shares. Approximately 2.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 217,800 shares, the short-interest ratio is presently 2.6 days.

Excelerate Energy Stock Performance

NYSE:EE opened at $15.36 on Thursday. The firm has a 50-day moving average of $15.15 and a two-hundred day moving average of $15.54. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.43 and a quick ratio of 3.42. The stock has a market cap of $1.66 billion, a P/E ratio of 14.91 and a beta of 1.41. Excelerate Energy has a 1-year low of $13.38 and a 1-year high of $23.14.

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

Excelerate Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders 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 0.65%. Excelerate Energy’s dividend payout ratio (DPR) is 9.71%.

Analyst Upgrades and Downgrades

EE has been the subject of a number of recent research reports. Morgan Stanley dropped 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 note on Tuesday, February 13th. Northland Securities assumed coverage on Excelerate Energy in a report on Monday, February 26th. They issued an “outperform” rating and a $23.00 price target for the company. Raymond James reduced their price objective 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, StockNews.com upgraded Excelerate Energy from a “sell” rating to a “hold” rating in a research report on Saturday, March 9th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Excelerate Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Excelerate Energy by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 1,957,764 shares of the company’s stock valued at $30,267,000 after purchasing an additional 20,779 shares during the last quarter. Ranger Investment Management L.P. increased its position in Excelerate Energy by 0.5% in the fourth quarter. Ranger Investment Management L.P. now owns 1,609,580 shares of the company’s stock worth $24,884,000 after buying an additional 7,815 shares during the period. BlackRock Inc. increased its position in Excelerate Energy by 5.5% in the first quarter. BlackRock Inc. now owns 1,369,554 shares of the company’s stock worth $30,322,000 after buying an additional 71,248 shares during the period. American Century Companies Inc. boosted its holdings in shares of Excelerate Energy by 0.7% during the third quarter. American Century Companies Inc. now owns 1,101,250 shares of the company’s stock valued at $18,765,000 after acquiring an additional 7,922 shares during the period. Finally, Norges Bank bought a new position in shares of Excelerate Energy during the fourth quarter worth about $18,206,000. 21.79% of the stock is owned by institutional investors and hedge funds.

Excelerate Energy Company Profile

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.