Excelerate Energy, Inc. (NYSE:EE – Get Rating) saw a significant decline in short interest in August. As of August 15th, there was short interest totalling 1,210,000 shares, a decline of 19.3% from the July 31st total of 1,500,000 shares. Currently, 4.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 664,000 shares, the short-interest ratio is currently 1.8 days.
Excelerate Energy Price Performance
NYSE:EE traded up 1.09 during midday trading on Monday, hitting 27.70. The stock had a trading volume of 971,900 shares, compared to its average volume of 782,929. Excelerate Energy has a one year low of 18.31 and a one year high of 30.82. The stock has a 50-day moving average of 22.54 and a 200 day moving average of 38.24. The company has a quick ratio of 2.13, a current ratio of 2.35 and a debt-to-equity ratio of 0.38.
Excelerate Energy Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 7th. Investors of record on Friday, August 19th will be paid a $0.025 dividend. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $0.10 annualized dividend and a yield of 0.36%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. Strs Ohio bought a new position in Excelerate Energy in the second quarter worth approximately $85,000. Cincinnati Insurance Co. bought a new stake in Excelerate Energy during the 2nd quarter valued at $94,000. American International Group Inc. bought a new stake in Excelerate Energy during the 2nd quarter valued at $173,000. Point72 Hong Kong Ltd bought a new stake in Excelerate Energy during the 2nd quarter valued at $183,000. Finally, Jane Street Group LLC bought a new stake in Excelerate Energy during the 2nd quarter valued at $258,000.
Analysts Set New Price Targets
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EE has been the topic of a number of research analyst reports. Raymond James initiated coverage on Excelerate Energy in a research report on Monday, May 9th. They issued an “outperform” rating and a $30.00 target price on the stock. Wells Fargo & Company upgraded Excelerate Energy from an “equal weight” rating to an “overweight” rating and set a $29.00 price objective on the stock in a research report on Tuesday, July 5th. Sumitomo Mitsui Financial Group initiated coverage on Excelerate Energy in a research report on Monday, May 9th. They set an “outperform” rating and a $32.00 price objective on the stock. Stephens initiated coverage on Excelerate Energy in a research note on Monday, May 9th. They set an “overweight” rating and a $36.00 target price on the stock. Finally, StockNews.com raised Excelerate Energy from a “sell” rating to a “hold” rating in a research note on Friday, August 19th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Excelerate Energy has a consensus rating of “Moderate Buy” and an average target price of 31.50.
Excelerate Energy Company Profile
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.
See Also
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