TD Waterhouse Canada Inc. Cuts Stake in Expand Energy Corporation $EXE

TD Waterhouse Canada Inc. cut its holdings in shares of Expand Energy Corporation (NASDAQ:EXE) by 86.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,472 shares of the company’s stock after selling 22,595 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Expand Energy were worth $311,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Research Global Investors increased its position in shares of Expand Energy by 33.2% during the fourth quarter. Capital Research Global Investors now owns 21,251,283 shares of the company’s stock worth $2,345,303,000 after acquiring an additional 5,291,948 shares during the period. BlackRock Inc. purchased a new position in Expand Energy in the second quarter valued at $1,778,004,000. State Street Corp boosted its holdings in Expand Energy by 8.3% in the third quarter. State Street Corp now owns 13,183,560 shares of the company’s stock valued at $1,400,621,000 after purchasing an additional 1,014,484 shares during the period. Oaktree Capital Management LP grew its stake in Expand Energy by 3.5% during the 1st quarter. Oaktree Capital Management LP now owns 5,237,477 shares of the company’s stock worth $574,970,000 after purchasing an additional 175,114 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Expand Energy by 94.7% during the 1st quarter. Bank of New York Mellon Corp now owns 4,498,905 shares of the company’s stock worth $493,890,000 after purchasing an additional 2,188,422 shares in the last quarter. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Expand Energy Stock Down 2.1%

Expand Energy stock opened at $94.83 on Friday. The stock has a market cap of $21.95 billion, a PE ratio of 8.19 and a beta of 0.34. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. The stock’s fifty day moving average is $93.58 and its two-hundred day moving average is $96.76. Expand Energy Corporation has a 1-year low of $84.99 and a 1-year high of $126.62.

Expand Energy (NASDAQ:EXE) last released its quarterly earnings data on Tuesday, July 28th. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.20. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%.The business had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.05 billion. On average, sell-side analysts expect that Expand Energy Corporation will post 8.7 EPS for the current fiscal year.

Expand Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 13th were issued a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Thursday, August 13th. Expand Energy’s dividend payout ratio is 19.86%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on EXE. Freedom Broker raised Expand Energy to a “strong-buy” rating in a research report on Thursday, September 3rd. Benchmark lowered their price objective 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. Johnson Rice lowered shares of Expand Energy from a “buy” rating to an “accumulate” rating and cut their target price for the stock from $135.00 to $125.00 in a research note on Monday, August 17th. Truist Financial raised their target price on shares of Expand Energy from $117.00 to $121.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, Roth Capital reiterated a “neutral” rating and issued a $93.00 price target on shares of Expand Energy in a research note on Wednesday, July 29th. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Expand Energy has a consensus rating of “Moderate Buy” and a consensus target price of $127.16.

About Expand Energy

Expand Energy Corporation (NASDAQ: EXE) is an independent energy company focused on the exploration, development and production of natural gas, oil and natural gas liquids in the United States. The company’s operations are concentrated in major U.S. shale basins, including the Marcellus and Haynesville formations, and its products support domestic electricity generation, industrial activity and liquefied natural gas exports.

Expand Energy was created through the combination of Chesapeake Energy Corporation and Southwestern Energy Company.