Excelerate Energy, Inc. (NYSE:EE – Get Rating) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 1,410,000 shares, an increase of 7.6% from the August 31st total of 1,310,000 shares. Based on an average daily volume of 559,600 shares, the days-to-cover ratio is presently 2.5 days. Currently, 5.4% of the shares of the company are sold short.
Wall Street Analyst Weigh In
A number of brokerages recently commented on EE. Wells Fargo & Company raised Excelerate Energy from an "equal weight" rating to an "overweight" rating and set a $29.00 target price on the stock in a report on Tuesday, July 5th. Barclays raised their price target on Excelerate Energy to $30.00 in a report on Monday, August 15th. Finally, StockNews.com raised Excelerate Energy from a "sell" rating to a "hold" rating in a report on Friday, August 19th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Excelerate Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of 31.50.
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Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio purchased a new position in shares of Excelerate Energy during the second quarter valued at approximately $85,000. Cincinnati Insurance Co. purchased a new position in shares of Excelerate Energy during the second quarter valued at approximately $94,000. American International Group Inc. purchased a new position in shares of Excelerate Energy during the second quarter valued at approximately $173,000. Point72 Hong Kong Ltd purchased a new position in shares of Excelerate Energy during the second quarter valued at approximately $183,000. Finally, Jane Street Group LLC purchased a new position in shares of Excelerate Energy during the second quarter valued at approximately $258,000. Hedge funds and other institutional investors own 30.98% of the company's stock.
Excelerate Energy Stock Performance
Shares of Excelerate Energy stock opened at 24.54 on Thursday. The business has a 50-day moving average price of 24.94 and a 200-day moving average price of 29.76. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.13 and a current ratio of 2.35. Excelerate Energy has a twelve month low of 18.31 and a twelve month high of 30.82.
Excelerate Energy Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 7th. Investors of record on Friday, August 19th were given a $0.025 dividend. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $0.10 annualized dividend and a yield of 0.41%.
Excelerate Energy Company Profile
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Excelerate Energy, Inc provides flexible liquefied natural gas (LNG) solutions worldwide. The company offers floating regasification services, including floating storage and regasification units (FSRUs), infrastructure development, and LNG and natural gas supply, procurement, and distribution services; LNG terminal services; natural gas supply to-power projects; and a suite of smaller-scale gas distribution solutions.
Further Reading
- Get a free copy of the StockNews.com research report on Excelerate Energy (EE)
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