Envestnet Asset Management Inc. Invests $13.49 Million in Expand Energy Corporation (NASDAQ:EXE)

Envestnet Asset Management Inc. acquired a new position in shares of Expand Energy Corporation (NASDAQ:EXE) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 121,210 shares of the company’s stock, valued at approximately $13,493,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EXE. First Horizon Advisors Inc. bought a new position in shares of Expand Energy in the 1st quarter valued at about $28,000. Princeton Global Asset Management LLC acquired a new position in Expand Energy during the 1st quarter worth approximately $31,000. Peoples Bank KS acquired a new position in Expand Energy during the 1st quarter worth approximately $33,000. Future Financial Wealth Managment LLC bought a new stake in Expand Energy during the 1st quarter worth approximately $56,000. Finally, Westside Investment Management Inc. bought a new stake in shares of Expand Energy in the 1st quarter valued at $56,000. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Expand Energy Price Performance

NASDAQ EXE opened at $108.64 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.30. Expand Energy Corporation has a 52 week low of $81.66 and a 52 week high of $123.35. The company has a 50-day moving average price of $114.14 and a 200-day moving average price 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.

Expand Energy (NASDAQ:EXE) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.17. The company 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%. Equities research analysts anticipate that Expand Energy Corporation will post 1.33 earnings per share for the current year.

Expand Energy Dividend Announcement

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

Wall Street Analysts Forecast Growth

EXE has been the topic of several research reports. Scotiabank upped their price objective on shares of Expand Energy from $120.00 to $135.00 and gave the stock a “sector outperform” rating in a report on Friday, July 11th. UBS Group raised their price objective on shares of Expand Energy from $144.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, July 1st. Mizuho boosted their price objective on shares of Expand Energy from $141.00 to $142.00 and gave the stock an “outperform” rating in a report on Tuesday, July 1st. KeyCorp set a $135.00 target price on shares of Expand Energy and gave the stock an “overweight” rating in a research note on Friday, June 13th. Finally, Benchmark boosted their price objective on shares of Expand Energy from $93.00 to $112.00 and gave the company a “buy” rating in a research report on Thursday, April 3rd. One equities research analyst has rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $129.80.

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.