Energy Income Partners LLC Has $8.38 Million Stock Position in Expand Energy Corporation $EXE

Key Points

• Energy Income Partners reduced its Expand Energy position by 24.7% in the first quarter, selling 25,003 shares and retaining 76,381 shares worth approximately $8.39 million. Institutional investors collectively own 97.93% of EXE.
• Analysts remain broadly positive, with Expand Energy holding a consensus “Moderate Buy” rating and an average price target of $130.19, despite several recent target cuts and rating downgrades.
• Expand Energy reported quarterly EPS of $3.83, surpassing estimates of $3.61, while revenue reached $4.40 billion versus the $3.53 billion consensus. The stock opened at $90.51 and trades near the lower end of its 12-month range.

Energy Income Partners LLC lessened its position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) by 24.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,381 shares of the company's stock after selling 25,003 shares during the quarter. Energy Income Partners LLC's holdings in Expand Energy were worth $8,385,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in EXE. Sierra Summit Advisors LLC lifted its stake in shares of Expand Energy by 25.9% in the 4th quarter. Sierra Summit Advisors LLC now owns 77,230 shares of the company's stock valued at $8,523,000 after purchasing an additional 15,904 shares during the period. King Luther Capital Management Corp lifted its stake 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 period. Northwestern Mutual Wealth Management Co. boosted its holdings 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 last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Expand Energy during the 4th quarter worth about $57,153,000. Finally, Andrew Hill Investment Advisors Inc. acquired a new position in shares of Expand Energy during the 4th quarter worth about $1,249,000. Institutional investors and hedge funds own 97.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EXE. Citigroup lowered their price target on Expand Energy from $125.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. Truist Financial decreased their price objective on shares of Expand Energy from $134.00 to $117.00 and set a "buy" rating for the company in a report on Friday, July 10th. William Blair downgraded shares of Expand Energy from an "outperform" rating to a "market perform" rating in a research note on Thursday, April 30th. UBS Group cut their target price on shares of Expand Energy from $135.00 to $127.00 and set a "buy" rating on the stock in a report on Friday, July 10th. Finally, Weiss Ratings cut shares of Expand Energy from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, May 19th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Expand Energy presently has a consensus rating of "Moderate Buy" and an average target price of $130.19.

Expand Energy Stock Performance

Shares of EXE opened at $90.51 on Tuesday. The stock has a market capitalization of $21.65 billion, a price-to-earnings ratio of 6.75 and a beta of 0.34. Expand Energy Corporation has a 12 month low of $84.99 and a 12 month high of $126.62. The firm has a fifty day simple moving average of $90.54 and a 200 day simple moving average of $99.07. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.21.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $3.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.61 by $0.22. Expand Energy had a net margin of 22.53% and a return on equity of 10.26%. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $3.53 billion. Research analysts forecast that Expand Energy Corporation will post 8.4 EPS for the current fiscal year.

Insider Transactions at Expand Energy

In related news, CFO Marcel Teunissen bought 2,000 shares of the company's stock in a transaction that occurred on Thursday, May 7th. The shares were acquired at an average price of $96.43 per share, for a total transaction of $192,860.00. Following the completion of the acquisition, the chief financial officer owned 9,144 shares of the company's stock, valued at approximately $881,755.92. The trade was a 28.00% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Wichterich purchased 1,000 shares of Expand Energy stock in a transaction that occurred on Friday, June 12th. The shares were bought at an average cost of $88.90 per share, with a total value of $88,900.00. Following the completion of the transaction, the chief executive officer directly owned 85,498 shares of the company's stock, valued at approximately $7,600,772.20. The trade was a 1.18% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders purchased 4,000 shares of company stock worth $375,120. 0.22% of the stock is owned by company insiders.

Expand Energy Company 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.

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