Energy Income Partners LLC Sells 25,003 Shares of Expand Energy Corporation $EXE

Energy Income Partners LLC cut its holdings in shares of Expand Energy Corporation (NASDAQ:EXE) by 24.7% during the first quarter, Holdings Channel reports. The fund owned 76,381 shares of the company’s stock after selling 25,003 shares during the quarter. Energy Income Partners LLC’s holdings in Expand Energy were worth $8,385,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Capital Research Global Investors boosted its position in Expand Energy by 33.2% during the fourth quarter. Capital Research Global Investors now owns 21,251,283 shares of the company’s stock worth $2,345,303,000 after purchasing an additional 5,291,948 shares during the period. State Street Corp increased its holdings in shares of Expand Energy by 8.3% in the third quarter. State Street Corp now owns 13,183,560 shares of the company’s stock valued at $1,400,621,000 after purchasing an additional 1,014,484 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Expand Energy by 94.7% in the first quarter. Bank of New York Mellon Corp now owns 4,498,905 shares of the company’s stock valued at $493,890,000 after purchasing an additional 2,188,422 shares during the period. Invesco Ltd. raised its position in shares of Expand Energy by 16.5% in the third quarter. Invesco Ltd. now owns 4,359,372 shares of the company’s stock valued at $463,140,000 after purchasing an additional 619,001 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of Expand Energy by 192.0% during the 4th quarter. Victory Capital Management Inc. now owns 3,286,361 shares of the company’s stock worth $362,683,000 after buying an additional 2,160,979 shares during the last quarter. Institutional investors own 97.93% of the company’s stock.

Insider Activity at Expand Energy

In related news, CEO Michael Wichterich acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was acquired at an average price of $88.90 per share, with a total value of $88,900.00. Following the purchase, the chief executive officer directly owned 85,498 shares in the company, valued at approximately $7,600,772.20. This trade represents a 1.18% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Marcel Teunissen bought 2,000 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was bought at an average price of $96.43 per share, for a total transaction of $192,860.00. Following the transaction, the chief financial officer directly owned 9,144 shares of the company’s stock, valued at approximately $881,755.92. This represents a 28.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders purchased 4,000 shares of company stock valued at $375,120. 0.22% of the stock is owned by insiders.

Analyst Ratings Changes

EXE has been the subject of several research analyst reports. UBS Group reduced their target price on shares of Expand Energy from $135.00 to $127.00 and set a “buy” rating for the company in a report on Friday, July 10th. Weiss Ratings downgraded shares of Expand Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 19th. Morgan Stanley reduced their price objective on Expand Energy from $139.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, June 29th. Barclays downgraded Expand Energy from an “overweight” rating to a “reduce” rating in a research report on Tuesday, May 26th. Finally, Truist Financial lowered their target price on Expand Energy from $134.00 to $117.00 and set a “buy” rating on the stock in a research note on Friday, July 10th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $130.19.

Expand Energy Stock Down 1.1%

EXE stock opened at $90.51 on Tuesday. The firm has a 50-day moving average price of $90.54 and a 200-day moving average price of $99.07. Expand Energy Corporation has a 12 month low of $84.99 and a 12 month high of $126.62. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $21.65 billion, a P/E ratio of 6.75 and a beta of 0.34.

Expand Energy (NASDAQ:EXE) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $3.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.61 by $0.22. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $3.53 billion. Expand Energy had a net margin of 22.53% and a return on equity of 10.26%. As a group, equities research analysts anticipate that Expand Energy Corporation will post 8.4 EPS for the current fiscal year.

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.