Excelerate Energy, Inc. (NYSE:EE) Short Interest Up 6.9% in May

Excelerate Energy, Inc. (NYSE:EEGet Free Report) was the target of a significant growth in short interest in May. As of May 15th, there was short interest totalling 715,900 shares, a growth of 6.9% from the April 30th total of 669,700 shares. Based on an average daily trading volume, of 207,300 shares, the days-to-cover ratio is presently 3.5 days. Approximately 2.9% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Stephens assumed coverage on Excelerate Energy in a research report on Tuesday, April 30th. They issued an “overweight” rating and a $21.00 price objective for the company. Morgan Stanley dropped their price target on Excelerate Energy from $30.00 to $19.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 13th. StockNews.com upgraded Excelerate Energy from a “sell” rating to a “hold” rating in a research report on Saturday, March 9th. Finally, Northland Securities started coverage on Excelerate Energy in a research report on Monday, February 26th. They set an “outperform” rating and a $23.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.75.

Read Our Latest Analysis on Excelerate Energy

Excelerate Energy Stock Down 0.8 %

Shares of NYSE:EE opened at $17.67 on Tuesday. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.37. The business has a fifty day moving average of $16.90 and a two-hundred day moving average of $15.96. The stock has a market cap of $1.89 billion, a P/E ratio of 17.50 and a beta of 1.31. Excelerate Energy has a 52-week low of $13.38 and a 52-week high of $22.42.

Excelerate Energy (NYSE:EEGet Free Report) last issued its earnings results on Wednesday, May 8th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.03. The company had revenue of $200.11 million during the quarter, compared to analysts’ expectations of $255.26 million. Excelerate Energy had a return on equity of 1.66% and a net margin of 2.60%. On average, research analysts expect that Excelerate Energy will post 1.29 earnings per share for the current year.

Excelerate Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Wednesday, May 22nd will be issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Tuesday, May 21st. Excelerate Energy’s payout ratio is currently 9.90%.

Hedge Funds Weigh In On Excelerate Energy

Several large investors have recently modified their holdings of the business. Bank of New York Mellon Corp lifted its stake in Excelerate Energy by 2.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 128,479 shares of the company’s stock worth $2,189,000 after acquiring an additional 3,253 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Excelerate Energy by 64.4% during the 3rd quarter. Victory Capital Management Inc. now owns 18,152 shares of the company’s stock worth $309,000 after acquiring an additional 7,108 shares in the last quarter. Swiss National Bank lifted its stake in Excelerate Energy by 2.0% during the 3rd quarter. Swiss National Bank now owns 40,400 shares of the company’s stock worth $688,000 after acquiring an additional 800 shares in the last quarter. MQS Management LLC acquired a new position in Excelerate Energy during the 3rd quarter worth about $193,000. Finally, Covalis Capital LLP lifted its stake in Excelerate Energy by 5.8% during the 3rd quarter. Covalis Capital LLP now owns 269,674 shares of the company’s stock worth $4,595,000 after acquiring an additional 14,698 shares in the last quarter. Institutional investors and hedge funds own 21.79% of the company’s stock.

Excelerate Energy Company Profile

(Get Free Report)

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.

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