Envestnet Asset Management Inc. Buys Shares of 121,210 Expand Energy Corporation (NASDAQ:EXE)

Envestnet Asset Management Inc. purchased a new position in shares of Expand Energy Corporation (NASDAQ:EXE) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 121,210 shares of the company’s stock, valued at approximately $13,493,000. Envestnet Asset Management Inc. owned 0.05% of Expand Energy as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in EXE. Bank of New York Mellon Corp acquired a new stake in Expand Energy in the 1st quarter valued at $326,670,000. Vaughan Nelson Investment Management L.P. bought a new position in shares of Expand Energy during the first quarter worth about $127,038,000. Canoe Financial LP bought a new position in shares of Expand Energy during the first quarter worth about $79,015,000. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Expand Energy during the first quarter worth about $60,722,000. Finally, Principal Financial Group Inc. bought a new position in Expand Energy in the first quarter worth about $46,811,000. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on EXE shares. UBS Group raised 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. Sanford C. Bernstein upgraded shares of 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. KeyCorp set a $135.00 price objective on shares of Expand Energy and gave the stock an “overweight” rating in a research report on Friday, June 13th. Stephens dropped their price target on shares of Expand Energy from $123.00 to $118.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. Finally, Jefferies Financial Group set a $135.00 price target on shares of Expand Energy and gave the stock a “buy” rating in a research note on Saturday, June 14th. One equities research analyst has rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $129.80.

Expand Energy Stock Up 0.5%

Shares of EXE opened at $108.64 on Friday. The company has a 50-day simple moving average of $114.14 and a 200-day simple moving average of $107.81. The firm has a market capitalization of $25.85 billion, a P/E ratio of -20.27 and a beta of 0.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.59 and a current ratio of 0.59. Expand Energy Corporation has a 52 week low of $81.66 and a 52 week high of $123.35.

Expand Energy (NASDAQ:EXE) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $2.02 earnings per share (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 analyst estimates of $2.10 billion. Expand Energy had a negative net margin of 18.49% and a positive return on equity of 4.64%. On average, equities research analysts expect that Expand Energy Corporation will post 1.33 earnings per share for the current year.

Expand Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Thursday, May 15th were issued a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Thursday, May 15th. Expand Energy’s payout ratio is -42.91%.

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.