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Principal Financial Group Inc. Takes Position in Expand Energy Corporation (NASDAQ:EXE)

Expand Energy logo with Energy background

Principal Financial Group Inc. bought a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 420,508 shares of the company's stock, valued at approximately $46,811,000. Principal Financial Group Inc. owned about 0.18% of Expand Energy as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC purchased a new position in Expand Energy during the first quarter worth about $1,179,000. Cambridge Investment Research Advisors Inc. purchased a new position in Expand Energy in the first quarter valued at about $1,383,000. Bessemer Group Inc. purchased a new position in Expand Energy in the first quarter valued at about $75,000. Miracle Mile Advisors LLC purchased a new position in Expand Energy in the first quarter valued at about $1,538,000. Finally, Sequoia Financial Advisors LLC purchased a new position in Expand Energy in the first quarter valued at about $215,000. 97.93% of the stock is owned by hedge funds and other institutional investors.

Expand Energy Stock Down 1.1%

Expand Energy stock traded down $1.18 during midday trading on Wednesday, hitting $105.20. 3,383,030 shares of the stock were exchanged, compared to its average volume of 3,374,206. Expand Energy Corporation has a 1 year low of $81.66 and a 1 year high of $123.35. The firm has a market cap of $25.04 billion, a P/E ratio of -19.63 and a beta of 0.48. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.59 and a quick ratio of 0.59. The company has a 50 day moving average price of $114.24 and a two-hundred day moving average price of $107.33.

Expand Energy (NASDAQ:EXE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.17. The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.10 billion. Expand Energy had a negative net margin of 18.49% and a positive return on equity of 4.64%. On average, sell-side analysts predict that Expand Energy Corporation will post 1.33 earnings per share for the current fiscal year.

Expand Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Thursday, May 15th were issued a $0.575 dividend. This represents a $2.30 annualized dividend and a dividend yield of 2.19%. The ex-dividend date was Thursday, May 15th. Expand Energy's dividend payout ratio (DPR) is presently -42.91%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. UBS Group increased their target price on shares of Expand Energy from $144.00 to $145.00 and gave the company a "buy" rating in a report on Tuesday, July 1st. Jefferies Financial Group set a $135.00 price target on shares of Expand Energy and gave the company a "buy" rating in a research report on Saturday, June 14th. JPMorgan Chase & Co. lowered their price target on shares of Expand Energy from $115.00 to $114.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Barclays increased their price target on shares of Expand Energy from $122.00 to $139.00 and gave the company an "overweight" rating in a research report on Monday. Finally, Sanford C. Bernstein upgraded shares of Expand Energy to a "strong-buy" rating and set a $150.00 price target on the stock in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $129.25.

View Our Latest Research Report on Expand Energy

Expand Energy Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Expand Energy (NASDAQ:EXE)

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