Exelon Corp. (EXC) Shares Down 2.5%
Exelon Corp. (NYSE:EXC)’s share price was down 2.5% during mid-day trading on Thursday . The stock traded as low as $35.58 and last traded at $35.70, with a volume of 4,083,548 shares changing hands. The stock had previously closed at $36.63.
EXC has been the topic of a number of recent analyst reports. SunTrust Banks Inc. increased their price target on shares of Exelon Corp. from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, March 14th. Deutsche Bank AG reaffirmed a “buy” rating and set a $34.00 price target on shares of Exelon Corp. in a research note on Friday, March 11th. Morgan Stanley initiated coverage on shares of Exelon Corp. in a research note on Wednesday, April 6th. They set an “equal weight” rating and a $38.00 price target on the stock. Barclays PLC initiated coverage on shares of Exelon Corp. in a research note on Thursday, March 24th. They set an “overweight” rating and a $39.00 price target on the stock. Finally, Bank of America Corp. reaffirmed a “hold” rating and set a $35.00 price target on shares of Exelon Corp. in a research note on Tuesday, May 24th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $35.54.
The firm has a market cap of $32.92 billion and a P/E ratio of 18.51. The stock has a 50-day moving average price of $34.75 and a 200-day moving average price of $32.86.
Exelon Corp. (NYSE:EXC) last issued its quarterly earnings data on Friday, May 6th. The energy giant reported $0.68 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.68. During the same quarter last year, the firm earned $0.71 earnings per share. Analysts anticipate that Exelon Corp. will post $2.50 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Friday, May 13th were paid a $0.318 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend was Wednesday, May 11th. This is a boost from Exelon Corp.’s previous quarterly dividend of $0.31.
In other news, Chairman Mayo A. Shattuck III sold 327,000 shares of the business’s stock in a transaction on Thursday, May 12th. The shares were sold at an average price of $35.30, for a total value of $11,543,100.00. Following the completion of the sale, the chairman now directly owns 760,938 shares in the company, valued at $26,861,111.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Several hedge funds have recently modified their holdings of the company. OppenheimerFunds Inc. purchased a new stake in shares of Exelon Corp. during the fourth quarter worth $1,821,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake in shares of Exelon Corp. by 92.0% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 848,000 shares of the energy giant’s stock worth $23,549,000 after buying an additional 406,400 shares during the last quarter. Point View Wealth Management Inc. boosted its stake in shares of Exelon Corp. by 25.3% in the fourth quarter. Point View Wealth Management Inc. now owns 39,649 shares of the energy giant’s stock worth $1,101,000 after buying an additional 8,003 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Exelon Corp. by 6.0% in the fourth quarter. New York State Common Retirement Fund now owns 3,002,368 shares of the energy giant’s stock worth $83,376,000 after buying an additional 171,178 shares during the last quarter. Finally, Stevens Capital Management LP boosted its stake in shares of Exelon Corp. by 44.7% in the fourth quarter. Stevens Capital Management LP now owns 863,763 shares of the energy giant’s stock worth $23,987,000 after buying an additional 266,994 shares during the last quarter.
Exelon Corporation is a utility services holding company. The Company operates through nine segments consisting of Exelon Generation Company, LLC’s (Generation’s) six power marketing segments, including Mid-Atlantic, Midwest, New England, New York, ERCOT and other regions; Commonwealth Edison Company (ComEd); PECO Energy Company (PECO), and Baltimore Gas and Electric Company (BGE).
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