Scotia Capital Inc. Makes New Investment in Expand Energy Corporation (NASDAQ:EXE)

Key Points

• Scotia Capital Inc. invested approximately $2.52 million in Expand Energy Corporation during the first quarter, acquiring 22,629 shares.
• Expand Energy reported earnings per share of $1.10 for the last quarter, missing estimates by $0.04, but had a revenue of $3.69 billion compared to the estimated $2.09 billion.
• The company announced a quarterly dividend of $0.575 per share, resulting in a dividend yield of 2.3%, with a payout ratio of 589.74%.

Scotia Capital Inc. purchased a new position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 22,629 shares of the company's stock, valued at approximately $2,519,000.

Several other large investors have also recently bought and sold shares of EXE. Harbour Investments Inc. acquired a new stake in shares of Expand Energy in the first quarter valued at about $27,000. First Horizon Advisors Inc. acquired a new stake in shares of Expand Energy in the first quarter valued at about $28,000. Cheviot Value Management LLC acquired a new stake in shares of Expand Energy in the first quarter valued at about $29,000. Princeton Global Asset Management LLC acquired a new stake in shares of Expand Energy in the first quarter valued at about $31,000. Finally, BankPlus Trust Department acquired a new stake in shares of Expand Energy in the first quarter valued at about $32,000. 97.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Siebert Williams Shank cut their price target on Expand Energy from $142.00 to $128.00 in a report on Wednesday, July 16th. Bernstein Bank dropped their price target on Expand Energy from $150.00 to $146.00 in a report on Monday, July 7th. KeyCorp set a $135.00 target price on Expand Energy and gave the stock an "overweight" rating in a research report on Friday, June 13th. Wolfe Research decreased their target price on Expand Energy from $150.00 to $148.00 in a research report on Wednesday, July 2nd. Finally, Mizuho lifted their price target on Expand Energy from $141.00 to $142.00 and gave the company an "outperform" rating in a research report on Tuesday, July 1st. One analyst has rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $128.92.

Expand Energy Stock Performance

NASDAQ EXE traded down $0.87 during trading hours on Friday, hitting $99.14. 2,532,642 shares of the company's stock traded hands, compared to its average volume of 3,711,253. The business's fifty day moving average price is $109.90 and its two-hundred day moving average price is $107.50. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $23.61 billion, a P/E ratio of 254.21 and a beta of 0.46. Expand Energy Corporation has a 52 week low of $69.12 and a 52 week high of $123.35.

Expand Energy (NASDAQ:EXE - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $1.10 EPS for the quarter, missing analysts' consensus estimates of $1.14 by ($0.04). The company had revenue of $3.69 billion during 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%. Equities research analysts predict that Expand Energy Corporation will post 1.33 EPS for the current year.

Expand Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be given a $0.575 dividend. 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 currently 589.74%.

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.