Ninepoint Partners LP Acquires New Holdings in Expand Energy Corporation $EXE

Key Points

• Ninepoint Partners initiated a 50,000-share position in Expand Energy during the second quarter, valued at approximately $4.56 million. Institutional investors collectively own 97.93% of the company.
• Expand Energy reported quarterly EPS of $1.33, beating estimates of $1.13, while revenue of $2.96 billion fell short of the $3.05 billion consensus forecast.
• The company declared a quarterly dividend of $0.575 per share, equivalent to a 2.4% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $127.67.

Ninepoint Partners LP bought a new position in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 50,000 shares of the company's stock, valued at approximately $4,560,000.

Other institutional investors have also modified their holdings of the company. Atlantic Union Bankshares Corp lifted its position in Expand Energy by 74.6% during the fourth quarter. Atlantic Union Bankshares Corp now owns 234 shares of the company's stock valued at $26,000 after acquiring an additional 100 shares during the last quarter. Rakuten Securities Inc. increased its position in shares of Expand Energy by 350.9% during the fourth quarter. Rakuten Securities Inc. now owns 248 shares of the company's stock worth $27,000 after purchasing an additional 193 shares in the last quarter. Eastern Bank purchased a new stake in shares of Expand Energy during the 2nd quarter valued at $27,000. SJS Investment Consulting Inc. boosted its position in shares of Expand Energy by 379.6% in the 1st quarter. SJS Investment Consulting Inc. now owns 259 shares of the company's stock worth $28,000 after purchasing an additional 205 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in Expand Energy during the 4th quarter worth $30,000. 97.93% of the stock is currently owned by institutional investors.

Expand Energy Price Performance

Expand Energy stock opened at $96.07 on Friday. The company has a fifty day simple moving average of $90.78 and a 200-day simple moving average of $97.59. The firm has a market capitalization of $22.24 billion, a price-to-earnings ratio of 8.30 and a beta of 0.34. 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 Corporation has a 52-week low of $84.99 and a 52-week high of $126.62.

Expand Energy (NASDAQ:EXE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.20. Expand Energy had a net margin of 20.46% and a return on equity of 10.33%. The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3.05 billion. On average, equities analysts anticipate that Expand Energy Corporation will post 8.92 EPS for the current fiscal year.

Expand Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 13th will be issued a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Thursday, August 13th. Expand Energy's payout ratio is currently 19.86%.

Wall Street Analysts Forecast Growth

EXE has been the subject of a number of research analyst reports. Wolfe Research reiterated an "outperform" rating and issued a $114.00 price target on shares of Expand Energy in a research note on Wednesday, July 29th. Weiss Ratings downgraded shares of Expand Energy from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, August 12th. Morgan Stanley dropped their target price on shares of Expand Energy from $131.00 to $129.00 and set an "overweight" rating on the stock in a research report on Wednesday. UBS Group lowered their price objective on shares of Expand Energy from $127.00 to $124.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Finally, Johnson Rice lowered Expand Energy from a "buy" rating to an "accumulate" rating and reduced their target price for the stock from $135.00 to $125.00 in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $127.67.

Insider Buying and Selling at Expand Energy

In related news, CEO Michael Wichterich purchased 1,000 shares of the company's stock in a transaction dated Friday, June 12th. The stock was acquired at an average cost of $88.90 per share, for a total transaction 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. This trade represents a 1.18% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.22% of the stock is currently owned by corporate 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.

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