Short Interest in Excelerate Energy, Inc. (NYSE:EE) Expands By 33.5%
by Scott Moore · The Cerbat GemExcelerate Energy, Inc. (NYSE:EE – Get Free Report) was the recipient of a large increase in short interest in the month of March. As of March 31st, there was short interest totaling 1,892,975 shares, an increase of 33.5% from the March 15th total of 1,417,543 shares. Approximately 1.7% of the shares of the stock are sold short. Based on an average trading volume of 545,531 shares, the days-to-cover ratio is presently 3.5 days.
Insider Buying and Selling at Excelerate Energy
In other news, insider Oliver Simpson sold 6,000 shares of the company’s stock in a transaction on Friday, March 20th. The stock was sold at an average price of $34.15, for a total transaction of $204,900.00. Following the completion of the sale, the insider directly owned 51,719 shares in the company, valued at approximately $1,766,203.85. This represents a 10.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.83% of the company’s stock.
Hedge Funds Weigh In On Excelerate Energy
A number of institutional investors have recently modified their holdings of the business. Martingale Asset Management L P raised its holdings in shares of Excelerate Energy by 0.4% during the fourth quarter. Martingale Asset Management L P now owns 74,192 shares of the company’s stock valued at $2,081,000 after purchasing an additional 281 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Excelerate Energy by 19.2% in the third quarter. PNC Financial Services Group Inc. now owns 2,438 shares of the company’s stock worth $61,000 after acquiring an additional 392 shares in the last quarter. Bailard Inc. boosted its holdings in Excelerate Energy by 1.6% in the third quarter. Bailard Inc. now owns 25,500 shares of the company’s stock worth $642,000 after acquiring an additional 400 shares in the last quarter. Summit Global Investments boosted its holdings in Excelerate Energy by 3.2% in the third quarter. Summit Global Investments now owns 12,973 shares of the company’s stock worth $327,000 after acquiring an additional 406 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its holdings in Excelerate Energy by 32.8% in the third quarter. New York State Teachers Retirement System now owns 2,081 shares of the company’s stock worth $52,000 after acquiring an additional 514 shares in the last quarter. Institutional investors and hedge funds own 21.79% of the company’s stock.
Excelerate Energy Price Performance
Shares of Excelerate Energy stock traded up $0.86 during trading on Friday, reaching $34.92. 199,759 shares of the company’s stock were exchanged, compared to its average volume of 461,477. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.43 and a current ratio of 2.43. Excelerate Energy has a 1-year low of $21.28 and a 1-year high of $43.17. The company has a market cap of $3.98 billion, a P/E ratio of 26.45, a PEG ratio of 1.08 and a beta of 1.41. The firm’s 50-day moving average price is $36.67 and its 200 day moving average price is $31.47.
Excelerate Energy (NYSE:EE – Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $293.49 million. During the same period last year, the firm posted $0.40 EPS. Excelerate Energy’s quarterly revenue was up 15.6% on a year-over-year basis. As a group, research analysts anticipate that Excelerate Energy will post 1.16 earnings per share for the current year.
Excelerate Energy Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.9%. Excelerate Energy’s payout ratio is 24.24%.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on EE. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $44.00 target price on shares of Excelerate Energy in a research report on Friday, February 6th. Barclays upped their target price on Excelerate Energy from $33.00 to $41.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. Wall Street Zen downgraded Excelerate Energy from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. Wells Fargo & Company upped their target price on Excelerate Energy from $29.00 to $39.00 and gave the company an “equal weight” rating in a research report on Friday, February 27th. Finally, Northland Securities set a $50.00 target price on Excelerate Energy in a research report on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Excelerate Energy has an average rating of “Moderate Buy” and a consensus price target of $39.00.
Check Out Our Latest Stock Report on EE
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.