Expand Energy Corporation $EXE Shares Acquired by NewEdge Advisors LLC

Key Points

• NewEdge Advisors increased its Expand Energy holdings by 336% in the second quarter, owning 35,673 shares valued at approximately $3.25 million. Institutional investors and hedge funds collectively own 97.93% of the stock.
• Analysts maintain a positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $127.42; recent targets range from $114 to $147.
• Expand Energy shares opened at $88.74, near their 52-week low, while the company reported quarterly EPS of $1.33—beating estimates—and pays a quarterly dividend of $0.575, representing a 2.6% annualized yield.

NewEdge Advisors LLC lifted its holdings in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) by 336.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,673 shares of the company's stock after purchasing an additional 27,492 shares during the period. NewEdge Advisors LLC's holdings in Expand Energy were worth $3,253,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. SJS Investment Consulting Inc. grew its holdings in Expand Energy by 379.6% during the 1st quarter. SJS Investment Consulting Inc. now owns 259 shares of the company's stock valued at $28,000 after buying an additional 205 shares during the last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in Expand Energy during the fourth quarter worth $30,000. Ascentis Independent Advisors acquired a new position in shares of Expand Energy in the first quarter worth $32,000. Eastern Bank acquired a new position in shares of Expand Energy in the second quarter worth $27,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of Expand Energy in the second quarter valued at $32,000. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wolfe Research reaffirmed an "outperform" rating and set a $114.00 price objective on shares of Expand Energy in a research note on Wednesday, July 29th. Raymond James Financial boosted their target price on shares of Expand Energy from $145.00 to $147.00 and gave the company a "strong-buy" rating in a research note on Wednesday, September 9th. Truist Financial upped 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. UBS Group raised their price target on shares of Expand Energy from $124.00 to $129.00 and gave the stock a "buy" rating in a research note on Monday. Finally, Morgan Stanley lowered their price target on shares of Expand Energy from $131.00 to $129.00 and set an "overweight" rating for the company in a report on Wednesday, August 19th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $127.42.

Expand Energy Trading Down 5.8%

Shares of Expand Energy stock opened at $88.74 on Thursday. Expand Energy Corporation has a fifty-two week low of $84.99 and a fifty-two week high of $126.62. The firm has a market cap of $20.54 billion, a PE ratio of 7.66 and a beta of 0.34. The business's fifty day moving average is $93.73 and its two-hundred day moving average is $96.44. 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 (NASDAQ:EXE - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $1.33 EPS for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $3.05 billion. Analysts anticipate that Expand Energy Corporation will post 8.51 earnings per share for the current year.

Expand Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 13th were issued a $0.575 dividend. The ex-dividend date was Thursday, August 13th. This represents a $2.30 annualized dividend and a yield of 2.6%. Expand Energy's payout ratio is 19.86%.

Expand Energy Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.