Mackenzie Financial Corp Acquires 17,432 Shares of Expand Energy Corporation $EXE

Mackenzie Financial Corp increased its holdings in Expand Energy Corporation (NASDAQ:EXE) by 3.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 470,701 shares of the company’s stock after purchasing an additional 17,432 shares during the period. Mackenzie Financial Corp owned approximately 0.20% of Expand Energy worth $50,007,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Allianz Asset Management GmbH lifted its position 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 period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Expand Energy by 10.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 53,113 shares of the company’s stock valued at $6,211,000 after buying an additional 5,020 shares in the last quarter. Candriam S.C.A. grew its position in Expand Energy by 59.0% in 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. Edgestream Partners L.P. bought a new stake in Expand Energy in the second quarter valued at $3,347,000. Finally, Cibc World Market Inc. raised 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 in the last quarter. Institutional investors own 97.93% of the company’s stock.

Expand Energy Price Performance

Expand Energy stock opened at $107.83 on Friday. The business’s fifty day moving average is $105.96 and its two-hundred day moving average is $106.89. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $25.92 billion, a P/E ratio of 14.30 and a beta of 0.47. Expand Energy Corporation has a 52 week low of $91.01 and a 52 week high of $126.62.

Expand Energy (NASDAQ:EXE) last announced its earnings results on Tuesday, February 17th. The company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.11. The company had revenue of $3.27 billion during the quarter, compared to analyst estimates of $2.28 billion. Expand Energy had a return on equity of 8.17% and a net margin of 15.00%. Equities research analysts forecast that Expand Energy Corporation will post 1.33 earnings per share for the current fiscal year.

Expand Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 5th will be given a $0.575 dividend. This represents a $2.30 annualized dividend and a yield of 2.1%. The ex-dividend date is Thursday, March 5th. Expand Energy’s dividend payout ratio (DPR) is presently 30.50%.

Insider Buying and Selling at Expand Energy

In related news, CEO Michael Wichterich bought 2,000 shares of Expand Energy stock in a transaction dated Friday, March 6th. The shares were bought at an average cost of $107.50 per share, for a total transaction of $215,000.00. Following the completion of the transaction, the chief executive officer owned 83,498 shares of the company’s stock, valued at approximately $8,976,035. This trade represents a 2.45% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on EXE shares. Stephens lifted their price objective on Expand Energy from $145.00 to $146.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. UBS Group lowered their target price on shares of Expand Energy from $150.00 to $135.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Barclays cut their price target on shares of Expand Energy from $126.00 to $125.00 and set an “overweight” rating for the company in a report on Monday, February 23rd. Sanford C. Bernstein reduced their price target on shares of Expand Energy from $145.00 to $144.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. Finally, Mizuho upped their price objective on shares of Expand Energy from $136.00 to $142.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $131.17.

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.