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

Excelerate Energy, Inc. (NYSE:EE) was the recipient of a large decrease in short interest in the month of January. As of January 15th, there was short interest totaling 1,294,551 shares, a decrease of 18.1% from the December 31st total of 1,579,808 shares. Based on an average trading volume of 321,295 shares, the short-interest ratio is presently 4.0 days. Approximately 1.2% of the shares of the company are short sold. Approximately 1.2% of the shares of the company are short sold. Based on an average trading volume of 321,295 shares, the short-interest ratio is presently 4.0 days.

Excelerate Energy Price Performance

NYSE EE traded down $1.31 on Monday, hitting $36.04. The stock had a trading volume of 465,032 shares, compared to its average volume of 401,673. The company has a market capitalization of $4.11 billion, a price-to-earnings ratio of 25.03, a price-to-earnings-growth ratio of 1.50 and a beta of 1.36. Excelerate Energy has a 52-week low of $21.28 and a 52-week high of $37.58. The firm has a 50-day moving average of $29.96 and a 200-day moving average of $26.99. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.39 and a current ratio of 2.39.

Excelerate Energy (NYSE:EE) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.13. Excelerate Energy had a return on equity of 4.34% and a net margin of 3.46%.The company had revenue of $391.04 million during the quarter, compared to analyst estimates of $270.82 million. The company’s quarterly revenue was up 102.2% compared to the same quarter last year. Equities analysts expect that Excelerate Energy will post 1.16 EPS for the current year.

Excelerate Energy announced that its Board of Directors has initiated a share buyback plan on Thursday, December 11th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages have issued reports on EE. Jefferies Financial Group boosted their target price on Excelerate Energy from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Excelerate Energy in a report on Monday, December 29th. Morgan Stanley set a $30.00 price objective on shares of Excelerate Energy and gave the company an “equal weight” rating in a report on Thursday, November 6th. Wall Street Zen raised shares of Excelerate Energy from a “hold” rating to a “buy” rating in a research report on Sunday, January 11th. Finally, Raymond James Financial upgraded shares of Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 price objective for the company in a research note on Monday, January 5th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Excelerate Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.56.

Institutional Investors Weigh In On Excelerate Energy

Several hedge funds have recently bought and sold shares of the stock. AlphaQuest LLC bought a new stake in Excelerate Energy in the second quarter worth $30,000. State of Alaska Department of Revenue purchased a new position in Excelerate Energy in the 3rd quarter worth approximately $30,000. Aster Capital Management DIFC Ltd purchased a new position in Excelerate Energy in the 3rd quarter worth approximately $38,000. Tower Research Capital LLC TRC lifted its position in Excelerate Energy by 157.1% in the second quarter. Tower Research Capital LLC TRC now owns 1,941 shares of the company’s stock valued at $57,000 after purchasing an additional 1,186 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its stake in shares of Excelerate Energy by 32.8% during the third quarter. New York State Teachers Retirement System now owns 2,081 shares of the company’s stock valued at $52,000 after purchasing an additional 514 shares during the period. 21.79% of the stock is currently owned by institutional investors.

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.