This LNG company trading back at its IPO price is a buy

Jim Cramer says Excelerate Energy down over 10% from its high is a buy.
He built a case for the U.S. LNG company on Mad Money this Friday.
Excelerate raised $441 million from its upsized IPO earlier this month.

Shares of the recently IPOed Excelerate Energy Inc (NYSE: EE) are down more than 10% from their high, which the famed investor Jim Cramer dubs a classic buy the dip opportunity.

Cramer’s positive view is based on strong demand

Cramer sees strong demand for the Texas-headquartered company that raised $441 million from its upsized IPO earlier this month. This Friday on Mad Money, he said:

With EBITDA margin at 29.5% and the stock trading back at its IPO price (roughly), he sees Excelerate a great pick for investors interested in playing the rise of LNG.

Why else does Cramer like Excelerate Energy?

Excelerate Energy is committed to expanding its footprint in natural gas transportation, which will also serve as a catalyst for the stock price, added the Mad Money host.

Last week, Excelerate secured a $350 million revolving credit facility. Billionaire George Kaiser owns 77% of the NYSE-listed company at present.