Excelerate Energy, Inc. (NYSE:EE) Short Interest Up 33.5% in March

Excelerate Energy, Inc. (NYSE:EE) was the target of a large growth in short interest in March. As of March 31st, there was short interest totaling 1,892,975 shares, a growth of 33.5% from the March 15th total of 1,417,543 shares. Approximately 1.7% of the company’s shares are short sold. Based on an average trading volume of 545,531 shares, the short-interest ratio is presently 3.5 days.

Insider Buying and Selling

In other Excelerate Energy news, insider Oliver Simpson sold 6,000 shares of the company’s stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $34.15, for a total value of $204,900.00. Following the transaction, the insider directly owned 51,719 shares in the company, valued at $1,766,203.85. This represents a 10.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.83% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Excelerate Energy

Several hedge funds have recently modified their holdings of the business. Arax Advisory Partners raised its holdings in shares of Excelerate Energy by 791.9% in the fourth quarter. Arax Advisory Partners now owns 883 shares of the company’s stock worth $25,000 after buying an additional 784 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Excelerate Energy in the third quarter worth $30,000. Global Retirement Partners LLC purchased a new position in shares of Excelerate Energy in the fourth quarter worth $33,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Excelerate Energy in the third quarter worth $38,000. Finally, Essex Investment Management Co. LLC purchased a new position in shares of Excelerate Energy in the fourth quarter worth $41,000. Hedge funds and other institutional investors own 21.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on EE shares. Jefferies Financial Group upped their target price on shares of Excelerate Energy from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Weiss Ratings restated a “hold (c)” rating on shares of Excelerate Energy in a research note on Friday, March 27th. Northland Securities set a $50.00 target price on shares of Excelerate Energy in a research note on Friday, January 30th. Dnb Carnegie downgraded shares of Excelerate Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 19th. Finally, Barclays upped their target price on shares of Excelerate Energy from $33.00 to $41.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $39.00.

Excelerate Energy Stock Up 2.5%

Shares of EE traded up $0.86 during mid-day trading on Friday, hitting $34.92. The company’s stock had a trading volume of 384,168 shares, compared to its average volume of 461,749. The company’s 50-day moving average is $36.67 and its 200-day moving average is $31.47. Excelerate Energy has a 52-week low of $21.28 and a 52-week high of $43.17. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 1.08 and a beta of 1.41. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 0.54.

Excelerate Energy (NYSE:EE) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). Excelerate Energy had a return on equity of 4.12% and a net margin of 3.19%.The business had revenue of $317.57 million during the quarter, compared to analysts’ expectations of $293.49 million. During the same period in the previous year, the company posted $0.40 EPS. Excelerate Energy’s revenue for the quarter was up 15.6% on a year-over-year basis. On average, equities research analysts forecast that Excelerate Energy will post 1.16 EPS for the current fiscal year.

Excelerate Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, March 11th. Excelerate Energy’s dividend payout ratio is presently 24.24%.

About Excelerate Energy

Excelerate Energy (NYSE: EE) is a Houston‐based energy infrastructure company specializing in liquefied natural gas (LNG) solutions. The company develops, owns and operates floating regasification units (FSRUs) that convert shipped LNG into natural gas for delivery into existing pipeline networks. Excelerate Energy’s integrated platform also includes specialized LNG carriers, proprietary regasification technology and on‐shore support facilities, enabling rapid deployment of import terminals without extensive capital construction.

Founded in the early 2000s, Excelerate Energy pioneered the first FSRU in 2007, demonstrating the flexibility and cost advantages of floating LNG import infrastructure.