Excelerate Energy, Inc. (NYSE:EE) Short Interest Update

Excelerate Energy, Inc. (NYSE:EE) was the recipient of a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 827,500 shares, a decline of 11.6% from the October 31st total of 935,800 shares. Based on an average daily volume of 243,400 shares, the days-to-cover ratio is presently 3.4 days. Currently, 3.4% of the company’s shares are sold short.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Tortoise Capital Advisors L.L.C. raised its holdings in Excelerate Energy by 10.1% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 814,090 shares of the company’s stock valued at $15,012,000 after acquiring an additional 74,946 shares in the last quarter. Marshall Wace LLP raised its holdings in Excelerate Energy by 28.2% in the second quarter. Marshall Wace LLP now owns 338,465 shares of the company’s stock valued at $6,241,000 after acquiring an additional 74,491 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Excelerate Energy by 7.9% in the second quarter. Renaissance Technologies LLC now owns 249,282 shares of the company’s stock valued at $4,597,000 after acquiring an additional 18,282 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in Excelerate Energy in the third quarter valued at $4,385,000. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Excelerate Energy by 40.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 180,204 shares of the company’s stock valued at $3,966,000 after acquiring an additional 52,007 shares in the last quarter. 21.79% of the stock is owned by institutional investors and hedge funds.

Excelerate Energy Trading Up 0.3 %

EE traded up $0.10 during trading on Tuesday, hitting $30.23. 153,375 shares of the company’s stock were exchanged, compared to its average volume of 217,800. The company has a current ratio of 4.12, a quick ratio of 4.12 and a debt-to-equity ratio of 0.34. Excelerate Energy has a 1 year low of $13.38 and a 1 year high of $31.89. The stock has a 50 day moving average price of $25.39 and a 200 day moving average price of $21.04. The firm has a market cap of $3.21 billion, a P/E ratio of 30.54, a price-to-earnings-growth ratio of 2.19 and a beta of 1.43.

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

Excelerate Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.06 per share. This is a boost from Excelerate Energy’s previous quarterly dividend of $0.03. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Wednesday, November 20th. Excelerate Energy’s payout ratio is presently 24.24%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Excelerate Energy from $19.00 to $22.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. Barclays boosted their target price on shares of Excelerate Energy from $22.00 to $26.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Stephens boosted their target price on shares of Excelerate Energy from $21.00 to $28.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Morgan Stanley boosted their price objective on shares of Excelerate Energy from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Finally, Northland Securities boosted their price objective on shares of Excelerate Energy from $25.00 to $29.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Excelerate Energy currently has an average rating of “Hold” and an average price target of $25.67.

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.