Excelerate Energy, Inc. (NYSE:EE) Sees Significant Increase in Short Interest

Excelerate Energy, Inc. (NYSE:EE) was the target of a large increase in short interest in September. As of September 15th, there was short interest totalling 903,600 shares, an increase of 8.2% from the August 31st total of 835,200 shares. Based on an average daily volume of 207,100 shares, the days-to-cover ratio is presently 4.4 days. Currently, 3.7% of the company’s stock are short sold.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of EE. BOKF NA grew its stake in shares of Excelerate Energy by 5.8% during the 1st quarter. BOKF NA now owns 12,700 shares of the company’s stock valued at $201,000 after acquiring an additional 700 shares during the period. nVerses Capital LLC bought a new position in shares of Excelerate Energy in the second quarter worth approximately $26,000. New York State Teachers Retirement System purchased a new stake in shares of Excelerate Energy in the first quarter worth $26,000. Public Employees Retirement System of Ohio bought a new stake in shares of Excelerate Energy during the 1st quarter valued at $38,000. Finally, Rhumbline Advisers lifted its stake in shares of Excelerate Energy by 9.6% during the 2nd quarter. Rhumbline Advisers now owns 29,243 shares of the company’s stock valued at $539,000 after buying an additional 2,553 shares in the last quarter. Hedge funds and other institutional investors own 21.79% of the company’s stock.

Excelerate Energy Stock Performance

EE stock opened at $22.01 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.43 and a quick ratio of 3.43. Excelerate Energy has a 1 year low of $13.38 and a 1 year high of $22.39. The company has a market cap of $2.36 billion, a P/E ratio of 21.79 and a beta of 1.29. The stock’s fifty day moving average price is $19.49 and its 200-day moving average price is $18.10.

Excelerate Energy (NYSE:EE) last announced its earnings results on Wednesday, August 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.06). Excelerate Energy had a return on equity of 1.68% and a net margin of 3.40%. The firm had revenue of $183.33 million during the quarter, compared to analysts’ expectations of $259.14 million. During the same period in the previous year, the business posted $0.23 earnings per share. On average, equities analysts forecast that Excelerate Energy will post 1.14 earnings per share for the current year.

Excelerate Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st were given a $0.025 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.10 annualized dividend and a yield of 0.45%. Excelerate Energy’s payout ratio is presently 9.90%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on EE shares. Stephens reaffirmed an “overweight” rating and issued a $21.00 price objective on shares of Excelerate Energy in a research report on Tuesday, July 9th. Wells Fargo & Company downgraded Excelerate Energy from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $20.00 to $19.00 in a report on Friday, August 30th. Finally, Northland Securities increased their price objective on Excelerate Energy from $23.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Excelerate Energy has an average rating of “Hold” and an average price target of $22.00.

About Excelerate Energy

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.