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 during 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 daily volume of 321,295 shares, the short-interest ratio is presently 4.0 days. Currently, 1.2% of the company’s stock are sold short. Currently, 1.2% of the company’s stock are sold short. Based on an average daily volume of 321,295 shares, the short-interest ratio is presently 4.0 days.

Excelerate Energy Stock Performance

Shares of Excelerate Energy stock traded down $0.85 during trading on Wednesday, hitting $35.70. 394,220 shares of the company’s stock were exchanged, compared to its average volume of 409,923. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 1.46 and a beta of 1.36. The business has a 50-day simple moving average of $30.15 and a 200-day simple moving average of $27.06. Excelerate Energy has a 52-week low of $21.28 and a 52-week high of $37.58. 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 announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.13. The company had revenue of $391.04 million for the quarter, compared to the consensus estimate of $270.82 million. Excelerate Energy had a return on equity of 4.34% and a net margin of 3.46%.Excelerate Energy’s quarterly revenue was up 102.2% compared to the same quarter last year. On average, research analysts forecast that Excelerate Energy will post 1.16 EPS for the current year.

Excelerate Energy announced that its board has approved a stock buyback program on Thursday, December 11th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

EE has been the subject of several recent analyst reports. Northland Securities set a $50.00 price target on Excelerate Energy in a report on Friday, January 30th. Jefferies Financial Group boosted their target price on shares of Excelerate Energy from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Morgan Stanley set a $30.00 price target on shares of Excelerate Energy and gave the stock an “equal weight” rating in a report on Thursday, November 6th. Raymond James Financial raised shares of Excelerate Energy from an “outperform” rating to a “strong-buy” rating and set a $36.00 price objective on the stock in a report on Monday, January 5th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Excelerate Energy in a research note on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $34.56.

Institutional Trading of Excelerate Energy

A number of hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in Excelerate Energy by 17.6% in the third quarter. Wellington Management Group LLP now owns 2,888,034 shares of the company’s stock valued at $72,750,000 after buying an additional 433,010 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Excelerate Energy by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 2,405,120 shares of the company’s stock valued at $67,464,000 after acquiring an additional 11,731 shares during the period. Copeland Capital Management LLC purchased a new position in shares of Excelerate Energy in the 4th quarter valued at about $30,658,000. TimesSquare Capital Management LLC raised its holdings in Excelerate Energy by 29.0% in the 3rd quarter. TimesSquare Capital Management LLC now owns 924,123 shares of the company’s stock worth $23,279,000 after purchasing an additional 207,771 shares during the period. Finally, Kayne Anderson Capital Advisors LP boosted its position in Excelerate Energy by 77.3% during the third quarter. Kayne Anderson Capital Advisors LP now owns 781,623 shares of the company’s stock worth $19,689,000 after purchasing an additional 340,747 shares in the last quarter. 21.79% of the stock is owned by hedge funds and other 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.