Ninepoint Partners LP Buys New Position in Expand Energy Corporation (NASDAQ:EXE)

Ninepoint Partners LP purchased a new stake in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 800,000 shares of the company's stock, valued at approximately $89,056,000. Expand Energy accounts for approximately 14.0% of Ninepoint Partners LP's portfolio, making the stock its 2nd largest holding. Ninepoint Partners LP owned approximately 0.34% of Expand Energy as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in EXE. AE Wealth Management LLC acquired a new stake in shares of Expand Energy during the 1st quarter worth approximately $527,000. Wedbush Securities Inc. bought a new position in Expand Energy in the first quarter worth $210,000. Madison Asset Management LLC bought a new stake in Expand Energy in the 1st quarter valued at $245,000. Oak Thistle LLC acquired a new position in shares of Expand Energy in the 1st quarter valued at $339,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Expand Energy during the 1st quarter worth about $6,260,000. 97.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on EXE shares. Barclays increased their target price on shares of Expand Energy from $122.00 to $139.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Stephens reduced their price objective on shares of Expand Energy from $123.00 to $118.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Scotiabank lifted their target price on Expand Energy from $120.00 to $135.00 and gave the company a "sector outperform" rating in a research report on Friday, July 11th. Wells Fargo & Company reduced their price target on Expand Energy from $121.00 to $120.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 15th. Finally, Sanford C. Bernstein raised Expand Energy to a "strong-buy" rating and set a $150.00 price target on the stock in a research report on Thursday, May 22nd. One analyst has rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $129.80.

Expand Energy Trading Down 1.4%

Shares of NASDAQ:EXE traded down $1.43 during mid-day trading on Friday, hitting $98.17. The company had a trading volume of 2,399,200 shares, compared to its average volume of 3,433,729. The company has a market capitalization of $23.36 billion, a PE ratio of -18.32 and a beta of 0.48. Expand Energy Corporation has a one year low of $69.12 and a one year high of $123.35. The firm has a fifty day moving average price of $112.74 and a 200 day moving average price of $107.78. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.59 and a quick ratio of 0.59.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.85 by $0.17. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.10 billion. Expand Energy had a positive return on equity of 4.64% and a negative net margin of 18.49%. As a group, research analysts forecast that Expand Energy Corporation will post 1.33 EPS for the current year.

Expand Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Thursday, May 15th were given a dividend of $0.575 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $2.30 annualized dividend and a yield of 2.34%. Expand Energy's payout ratio is presently -42.91%.

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.