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

Excelerate Energy, Inc. (NYSE:EE) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 873,800 shares, an increase of 8.7% from the December 15th total of 803,900 shares. Based on an average daily trading volume, of 248,500 shares, the short-interest ratio is currently 3.5 days. Currently, 3.7% of the shares of the company are sold short.

Excelerate Energy Price Performance

Shares of EE stock traded up $0.28 during trading hours on Monday, hitting $32.31. 158,049 shares of the company’s stock were exchanged, compared to its average volume of 195,899. Excelerate Energy has a fifty-two week low of $13.38 and a fifty-two week high of $32.47. The firm has a market cap of $3.43 billion, a P/E ratio of 32.64, a P/E/G ratio of 1.81 and a beta of 1.42. The company has a quick ratio of 4.12, a current ratio of 4.12 and a debt-to-equity ratio of 0.34. The firm has a 50 day moving average of $30.21 and a two-hundred day moving average of $24.05.

Excelerate Energy (NYSE:EE) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. The company had revenue of $193.42 million during the quarter, compared to analysts’ expectations of $194.09 million. Excelerate Energy had a net margin of 3.14% and a return on equity of 1.39%. During the same period in the prior year, the business posted $0.40 earnings per share. Sell-side analysts forecast that Excelerate Energy will post 1.23 EPS for the current year.

Excelerate Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Wednesday, November 20th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.74%. This is a boost from Excelerate Energy’s previous quarterly dividend of $0.03. The ex-dividend date was Wednesday, November 20th. Excelerate Energy’s payout ratio is presently 24.24%.

Hedge Funds Weigh In On Excelerate Energy

Hedge funds have recently made changes to their positions in the company. PDT Partners LLC grew its holdings in shares of Excelerate Energy by 85.5% during the third quarter. PDT Partners LLC now owns 46,971 shares of the company’s stock worth $1,034,000 after buying an additional 21,645 shares in the last quarter. Barclays PLC grew its stake in Excelerate Energy by 299.8% during the 3rd quarter. Barclays PLC now owns 26,822 shares of the company’s stock valued at $591,000 after acquiring an additional 20,113 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in Excelerate Energy in the 3rd quarter valued at about $214,000. US Bancorp DE purchased a new position in Excelerate Energy in the 3rd quarter worth approximately $130,000. Finally, Contravisory Investment Management Inc. acquired a new position in Excelerate Energy during the fourth quarter worth $342,000. Institutional investors and hedge funds own 21.79% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on EE shares. Northland Securities increased their price objective on shares of Excelerate Energy from $29.00 to $37.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $31.00 price target (up from $22.00) on shares of Excelerate Energy in a research report on Tuesday, January 7th. Wells Fargo & Company upped their target price on Excelerate Energy from $19.00 to $22.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 12th. Stephens lifted their price target on Excelerate Energy from $28.00 to $36.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, Barclays raised their price objective on shares of Excelerate Energy from $26.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $30.33.

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.