Principal Financial Group Inc. Increases Stake in Expand Energy Corporation $EXE

Key Points

• Principal Financial Group increased its stake in Expand Energy (NASDAQ:EXE) by 83.7% in Q4 to 993,162 shares (about $109.6 million), representing roughly 0.42% of the company.
• Expand Energy posted stronger-than-expected quarterly results (EPS $3.83 vs. $3.61; revenue $4.40B vs. $3.53B) and announced a $0.575 quarterly dividend (2.4% yield; ex-dividend May 14, pay June 4).
• Institutional ownership is very high at 97.93%, and analysts collectively rate the stock a "Moderate Buy" with an average price target of $132.09 after several upgrades.

Principal Financial Group Inc. increased its stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) by 83.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 993,162 shares of the company's stock after acquiring an additional 452,483 shares during the period. Principal Financial Group Inc. owned approximately 0.42% of Expand Energy worth $109,606,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Allianz Asset Management GmbH increased its holdings in shares of Expand Energy by 12.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 120,840 shares of the company's stock worth $12,838,000 after buying an additional 13,670 shares during the last quarter. Intech Investment Management LLC boosted its holdings in Expand Energy by 513.9% in the third quarter. Intech Investment Management LLC now owns 36,781 shares of the company's stock valued at $3,908,000 after acquiring an additional 30,790 shares during the last quarter. Candriam S.C.A. grew its position in Expand Energy by 59.0% during the third quarter. Candriam S.C.A. now owns 30,794 shares of the company's stock valued at $3,272,000 after acquiring an additional 11,428 shares during the period. CSM Advisors LLC purchased a new stake in Expand Energy during the third quarter valued at about $20,103,000. Finally, Cibc World Market Inc. increased its stake in Expand Energy by 16.2% during the third quarter. Cibc World Market Inc. now owns 78,149 shares of the company's stock worth $8,303,000 after acquiring an additional 10,919 shares during the last quarter. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Expand Energy Price Performance

EXE stock opened at $96.93 on Thursday. The firm has a market cap of $23.19 billion, a P/E ratio of 7.23 and a beta of 0.36. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.11 and a current ratio of 1.11. Expand Energy Corporation has a 1 year low of $91.01 and a 1 year high of $126.62. The stock has a 50-day simple moving average of $103.60 and a 200-day simple moving average of $107.49.

Expand Energy (NASDAQ:EXE - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The company reported $3.83 earnings per share for the quarter, topping analysts' consensus estimates of $3.61 by $0.22. Expand Energy had a return on equity of 10.26% and a net margin of 22.53%.The firm had revenue of $4.40 billion during the quarter, compared to analysts' expectations of $3.53 billion. On average, equities analysts predict that Expand Energy Corporation will post 8.87 earnings per share for the current fiscal year.

Expand Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 14th will be paid a $0.575 dividend. The ex-dividend date is Thursday, May 14th. This represents a $2.30 annualized dividend and a dividend yield of 2.4%. Expand Energy's dividend payout ratio is 17.15%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Benchmark raised their price objective on Expand Energy from $112.00 to $124.00 and gave the stock a "buy" rating in a report on Thursday, March 5th. Morgan Stanley reissued an "overweight" rating on shares of Expand Energy in a research report on Friday, March 27th. Truist Financial reaffirmed a "buy" rating and set a $134.00 price target (up from $133.00) on shares of Expand Energy in a research report on Thursday, April 30th. Weiss Ratings upgraded shares of Expand Energy from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, February 19th. Finally, Wells Fargo & Company set a $123.00 price objective on shares of Expand Energy in a research report on Monday, February 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $132.09.

Insiders Place Their Bets

In other news, CEO Michael Wichterich purchased 2,000 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was acquired at an average cost of $107.50 per share, with a total value of $215,000.00. Following the acquisition, the chief executive officer owned 83,498 shares in the company, valued at approximately $8,976,035. This trade represents a 2.45% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.22% of the company's stock.

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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