Northwest & Ethical Investments L.P. Takes $831,000 Position in Expand Energy Corporation $EXE

Key Points

• Northwest & Ethical Investments L.P. purchased 7,480 shares of Expand Energy Corporation for around $831,000, marking a significant investment in the company during Q1.
• Insider transactions included COO Joshua J. Viets and CEO Domenic J. Dell'osso, Jr. acquiring shares, increasing their holdings by 3.35% and 1.52% respectively.
• Analysts maintain a consensus Buy rating for Expand Energy, with price objectives varying between $101.00 and $148.00, and a target price of $127.92.

Northwest & Ethical Investments L.P. purchased a new position in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,480 shares of the company's stock, valued at approximately $831,000.

Other institutional investors have also made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Expand Energy in the 1st quarter valued at approximately $3,757,000. Wealth Enhancement Advisory Services LLC acquired a new position in Expand Energy in the first quarter worth approximately $1,179,000. Wedbush Securities Inc. acquired a new position in Expand Energy in the first quarter worth approximately $210,000. Cambridge Investment Research Advisors Inc. bought a new position in Expand Energy during the first quarter valued at approximately $1,383,000. Finally, Bessemer Group Inc. acquired a new stake in Expand Energy in the first quarter valued at approximately $75,000. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Siebert Williams Shank reduced their price objective on shares of Expand Energy from $142.00 to $128.00 in a research note on Wednesday, July 16th. Wolfe Research lowered their price objective on Expand Energy from $150.00 to $148.00 in a report on Wednesday, July 2nd. KeyCorp set a $135.00 target price on Expand Energy and gave the stock an "overweight" rating in a report on Friday, June 13th. Capital One Financial lowered their price target on Expand Energy from $105.00 to $101.00 in a report on Thursday, July 3rd. Finally, Sanford C. Bernstein upgraded shares of Expand Energy to a "strong-buy" rating and set a $150.00 price objective for the company in a research note on Thursday, May 22nd. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Expand Energy presently has a consensus rating of "Buy" and a consensus target price of $127.42.

Expand Energy Stock Performance

NASDAQ:EXE traded down $0.79 during trading hours on Friday, hitting $94.66. 3,435,769 shares of the company traded hands, compared to its average volume of 3,554,541. The firm has a 50-day moving average of $105.76 and a 200 day moving average of $106.92. Expand Energy Corporation has a twelve month low of $69.12 and a twelve month high of $123.35. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $22.54 billion, a price-to-earnings ratio of 242.72 and a beta of 0.46.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $1.10 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.04). The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.09 billion. Expand Energy had a net margin of 2.41% and a return on equity of 5.76%. On average, analysts forecast that Expand Energy Corporation will post 1.33 EPS for the current year.

Expand Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be issued a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, August 14th. Expand Energy's dividend payout ratio (DPR) is presently 589.74%.

Insider Activity

In other Expand Energy news, CEO Domenic J. Dell'osso, Jr. bought 2,500 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were acquired at an average price of $95.86 per share, with a total value of $239,650.00. Following the completion of the purchase, the chief executive officer directly owned 166,715 shares in the company, valued at $15,981,299.90. The trade was a 1.52% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Joshua J. Viets purchased 2,000 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was acquired at an average cost of $92.16 per share, with a total value of $184,320.00. Following the transaction, the chief operating officer directly owned 61,676 shares of the company's stock, valued at approximately $5,684,060.16. This represents a 3.35% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by insiders.

Expand Energy Profile

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.