Ninepoint Partners LP Acquires New Position in Expand Energy Corporation $EXE

Ninepoint Partners LP acquired a new position in shares of Expand Energy Corporation (NASDAQ:EXE) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 50,000 shares of the company’s stock, valued at approximately $4,560,000.

Other institutional investors also recently bought and sold shares of the company. Sierra Summit Advisors LLC increased its position in shares of Expand Energy by 25.9% during the 4th quarter. Sierra Summit Advisors LLC now owns 77,230 shares of the company’s stock worth $8,523,000 after purchasing an additional 15,904 shares during the last quarter. King Luther Capital Management Corp lifted its position in Expand Energy by 16.6% in the fourth quarter. King Luther Capital Management Corp now owns 239,607 shares of the company’s stock valued at $26,443,000 after buying an additional 34,132 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Expand Energy by 36,574.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company’s stock worth $267,172,000 after buying an additional 2,414,311 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Expand Energy during the fourth quarter valued at about $57,153,000. Finally, Sei Investments Co. increased its position in shares of Expand Energy by 86.9% during the first quarter. Sei Investments Co. now owns 251,984 shares of the company’s stock valued at $27,663,000 after acquiring an additional 117,163 shares during the last quarter. 97.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EXE has been the topic of a number of research analyst reports. Wolfe Research reissued an “outperform” rating and issued a $114.00 price target on shares of Expand Energy in a research note on Wednesday, July 29th. Roth Capital reiterated a “neutral” rating and issued a $93.00 target price on shares of Expand Energy in a report on Wednesday, July 29th. Weiss Ratings lowered Expand Energy from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, August 12th. UBS Group decreased their price target on Expand Energy from $127.00 to $124.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Finally, Benchmark lowered their price target on Expand Energy from $124.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Expand Energy has an average rating of “Moderate Buy” and a consensus price target of $127.67.

Insider Transactions at Expand Energy

In related news, CEO Michael Wichterich purchased 1,000 shares of Expand Energy stock in a transaction on Friday, June 12th. The shares were bought at an average price of $88.90 per share, with a total value of $88,900.00. Following the transaction, the chief executive officer directly owned 85,498 shares of the company’s stock, valued at approximately $7,600,772.20. This trade represents a 1.18% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is owned by corporate insiders.

Expand Energy Price Performance

Expand Energy stock opened at $96.07 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. Expand Energy Corporation has a 52-week low of $84.99 and a 52-week high of $126.62. The firm has a market cap of $22.24 billion, a PE ratio of 8.30 and a beta of 0.34. The company’s 50 day moving average is $90.78 and its two-hundred day moving average is $97.59.

Expand Energy (NASDAQ:EXE) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.13 by $0.20. Expand Energy had a net margin of 20.46% and a return on equity of 10.33%. The business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.05 billion. On average, research analysts expect that Expand Energy Corporation will post 8.92 EPS for the current fiscal year.

Expand Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 13th will be issued a dividend of $0.575 per share. The ex-dividend date is Thursday, August 13th. This represents a $2.30 annualized dividend and a yield of 2.4%. Expand Energy’s dividend payout ratio is 19.86%.

About Expand Energy

Expand Energy Corporation is an independent natural gas producer principally in the United States. Expand Energy Corporation, formerly known as Chesapeake Energy Corporation, is based in OKLAHOMA CITY.