Exelon Corp. (EXC) Sets New 1-Year High at $37.46
Shares of Exelon Corp. (NYSE:EXC) reached a new 52-week high during trading on Monday . The company traded as high as $37.46 and last traded at $37.35, with a volume of 2,199,123 shares trading hands. The stock had previously closed at $37.41.
A number of analysts have commented on EXC shares. Deutsche Bank AG downgraded shares of Exelon Corp. from a “buy” rating to a “hold” rating and increased their price objective for the company from $34.00 to $36.00 in a report on Monday, April 18th. They noted that the move was a valuation call. Morgan Stanley started coverage on shares of Exelon Corp. in a report on Wednesday, April 6th. They issued an “equal weight” rating and a $38.00 price objective for the company. Zacks Investment Research upgraded shares of Exelon Corp. from a “sell” rating to a “hold” rating in a report on Monday. Citigroup Inc. increased their price objective on shares of Exelon Corp. from $27.00 to $29.00 and gave the company a “sell” rating in a report on Wednesday, July 20th. Finally, Goldman Sachs Group Inc. restated a “neutral” rating and set a $37.00 price target (up previously from $34.70) on shares of Exelon Corp. in a report on Monday, April 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $35.85.
The stock has a market capitalization of $34.20 billion and a price-to-earnings ratio of 19.23. The stock has a 50 day moving average of $35.61 and a 200-day moving average of $33.70.
Exelon Corp. (NYSE:EXC) last announced its quarterly earnings data on Friday, May 6th. The energy giant reported $0.68 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.68. During the same quarter in the previous year, the company posted $0.71 EPS. Equities analysts anticipate that Exelon Corp. will post $2.53 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Monday, August 15th will be paid a dividend of $0.318 per share. This represents a $1.27 annualized dividend and a dividend yield of 3.43%.
In related news, CEO Kenneth W. Cornew sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $36.47, for a total transaction of $1,094,100.00. Following the transaction, the chief executive officer now owns 32,844 shares of the company’s stock, valued at $1,197,820.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mayo A. Shattuck III sold 327,000 shares of the company’s stock in a transaction that occurred on Thursday, May 12th. The shares were sold at an average price of $35.30, for a total transaction of $11,543,100.00. Following the transaction, the chairman now directly owns 760,938 shares in the company, valued at approximately $26,861,111.40. The disclosure for this sale can be found here.
Several institutional investors have recently made changes to their positions in EXC. Bank of Montreal Can increased its position in shares of Exelon Corp. by 81.6% in the fourth quarter. Bank of Montreal Can now owns 6,420,688 shares of the energy giant’s stock valued at $178,304,000 after buying an additional 2,884,175 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Exelon Corp. by 163.3% in the fourth quarter. Principal Financial Group Inc. now owns 2,970,321 shares of the energy giant’s stock valued at $82,485,000 after buying an additional 1,842,226 shares during the period. Brandes Investment Partners LP raised its position in shares of Exelon Corp. by 25.9% in the fourth quarter. Brandes Investment Partners LP now owns 4,146,174 shares of the energy giant’s stock valued at $115,140,000 after buying an additional 853,309 shares during the period. Wells Fargo & Company MN raised its position in shares of Exelon Corp. by 40.5% in the fourth quarter. Wells Fargo & Company MN now owns 1,417,115 shares of the energy giant’s stock valued at $39,355,000 after buying an additional 408,240 shares during the period. Finally, Matarin Capital Management LLC bought a new position in shares of Exelon Corp. during the fourth quarter valued at approximately $3,303,000.
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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