Mitsubishi UFJ Asset Management Co. Ltd. Purchases New Stake in Expand Energy Corporation (NASDAQ:EXE)

Key Points

• Mitsubishi UFJ Asset Management acquired a new stake in Expand Energy Corporation, purchasing 422,277 shares valued at approximately $47 million, representing about 0.18% ownership of the company.
• Expand Energy's stock currently has a market cap of $23.61 billion, with a recent trading price of $99.14, down 0.9%, and has experienced a 12-month price range between $69.12 and $123.35.
• The company plans to pay a quarterly dividend of $0.575 per share on September 4, with an annualized yield of 2.3%, though its dividend payout ratio is significantly high at 589.74%.

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 422,277 shares of the company's stock, valued at approximately $47,008,000. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.18% of Expand Energy at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of EXE. Maryland State Retirement & Pension System acquired a new position in Expand Energy during the 1st quarter worth approximately $1,200,000. Deutsche Bank AG acquired a new position in Expand Energy during the first quarter worth $84,527,000. Pinney & Scofield Inc. acquired a new position in Expand Energy during the first quarter worth $29,000. Charles Schwab Investment Management Inc. acquired a new position in Expand Energy during the first quarter worth $224,301,000. Finally, Primecap Management Co. CA acquired a new position in Expand Energy during the first quarter worth $61,308,000. Institutional investors own 97.93% of the company's stock.

Analyst Upgrades and Downgrades

EXE has been the topic of several analyst reports. The Goldman Sachs Group cut their price target on shares of Expand Energy from $127.00 to $125.00 in a research report on Thursday, July 17th. Capital One Financial decreased their price target on Expand Energy from $105.00 to $101.00 in a research note on Thursday, July 3rd. KeyCorp set a $135.00 price objective on Expand Energy and gave the stock an "overweight" rating in a research note on Friday, June 13th. Stephens cut their price objective on Expand Energy from $123.00 to $118.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Finally, UBS Group boosted their target price on shares of Expand Energy from $144.00 to $145.00 and gave the stock a "buy" rating in a report on Tuesday, July 1st. One research 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 company's stock. According to data from MarketBeat, Expand Energy currently has an average rating of "Buy" and an average target price of $128.92.

Expand Energy Stock Down 0.9%

Expand Energy stock opened at $99.14 on Friday. The stock has a market cap of $23.61 billion, a P/E ratio of 254.21 and a beta of 0.46. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.29. Expand Energy Corporation has a twelve month low of $69.12 and a twelve month high of $123.35. The company's 50-day moving average price is $109.90 and its two-hundred day moving average price is $107.50.

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

Expand Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be given a dividend of $0.575 per share. The ex-dividend date is Thursday, August 14th. This represents a $2.30 annualized dividend and a yield of 2.3%. Expand Energy's dividend payout ratio (DPR) is presently 589.74%.

About Expand Energy

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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