Short Interest in Excelerate Energy, Inc. (NYSE:EE) Declines By 27.4%

Excelerate Energy, Inc. (NYSE:EE) was the target of a significant decrease in short interest in the month of January. As of January 30th, there was short interest totaling 939,408 shares, a decrease of 27.4% from the January 15th total of 1,294,551 shares. Currently, 0.8% of the shares of the stock are sold short. Based on an average trading volume of 505,371 shares, the short-interest ratio is presently 1.9 days. Based on an average trading volume of 505,371 shares, the short-interest ratio is presently 1.9 days. Currently, 0.8% of the shares of the stock are sold short.

Analysts Set New Price Targets

EE has been the topic of several research analyst reports. Northland Securities set a $50.00 price objective on Excelerate Energy in a report on Friday, January 30th. 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. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $44.00 price target on shares of Excelerate Energy in a research report on Friday, February 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Excelerate Energy in a report on Monday, December 29th. Finally, Tudor Pickering raised Excelerate Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 17th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.50.

Institutional Investors Weigh In On Excelerate Energy

Institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company bought a new stake in shares of Excelerate Energy during the 4th quarter worth about $205,000. Stifel Financial Corp acquired a new position in shares of Excelerate Energy during the fourth quarter valued at approximately $1,926,000. Schroder Investment Management Group bought a new stake in Excelerate Energy during the fourth quarter worth approximately $795,000. Essex Investment Management Co. LLC acquired a new stake in Excelerate Energy in the fourth quarter worth approximately $41,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Excelerate Energy by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 198,889 shares of the company’s stock valued at $5,579,000 after purchasing an additional 1,220 shares in the last quarter. Institutional investors and hedge funds own 21.79% of the company’s stock.

Excelerate Energy Stock Up 3.6%

Shares of NYSE EE opened at $41.83 on Friday. The stock has a fifty day moving average price of $31.85 and a 200 day moving average price of $27.81. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 0.56. Excelerate Energy has a 12-month low of $21.28 and a 12-month high of $41.93. The company has a market cap of $4.77 billion, a P/E ratio of 29.05, a P/E/G ratio of 1.29 and a beta of 1.36.

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

Excelerate Energy Company Profile

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.