Exelon Corp. (EXC) Sets New 52-Week High at $37.70
Exelon Corp. (NYSE:EXC) hit a new 52-week high on Monday . The company traded as high as $37.70 and last traded at $37.65, with a volume of 4,109,378 shares traded. The stock had previously closed at $37.28.
A number of brokerages recently weighed in on EXC. Zacks Investment Research upgraded Exelon Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, April 14th. Deutsche Bank AG cut Exelon Corp. from a “buy” rating to a “hold” rating and upped their price objective for the stock from $34.00 to $36.00 in a research note on Monday, April 18th. They noted that the move was a valuation call. Goldman Sachs Group Inc. restated a “neutral” rating and set a $37.00 price objective (up from $34.70) on shares of Exelon Corp. in a research note on Monday, April 11th. Jefferies Group restated a “buy” rating and set a $40.00 price objective (up from $36.00) on shares of Exelon Corp. in a research note on Tuesday, May 10th. Finally, Bank of America Corp. restated a “hold” rating and set a $35.00 price objective on shares of Exelon Corp. in a research note on Tuesday, May 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $35.85.
The company’s 50 day moving average is $35.85 and its 200 day moving average is $33.97. The firm has a market cap of $34.54 billion and a P/E ratio of 19.42.
Exelon Corp. (NYSE:EXC) last released its quarterly earnings data on Friday, May 6th. The energy giant reported $0.68 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.68. During the same period last year, the firm earned $0.71 EPS. On average, equities research analysts anticipate that Exelon Corp. will post $2.53 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Monday, August 15th will be given a dividend of $0.318 per share. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $1.27 annualized dividend and a dividend yield of 3.40%.
In other news, CEO Kenneth W. Cornew sold 30,000 shares of the business’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $36.47, for a total value of $1,094,100.00. Following the completion of the sale, the chief executive officer now directly owns 32,844 shares of the company’s stock, valued at approximately $1,197,820.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mayo A. Shattuck III sold 327,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $26,861,111.40. The disclosure for this sale can be found here.
Several hedge funds have recently bought and sold shares of EXC. ARGI Investment Services LLC increased its stake in Exelon Corp. by 246.9% in the fourth quarter. ARGI Investment Services LLC now owns 39,895 shares of the energy giant’s stock valued at $1,108,000 after buying an additional 28,395 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Exelon Corp. by 8.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 60,080 shares of the energy giant’s stock valued at $1,668,000 after buying an additional 4,721 shares during the last quarter. Schroder Investment Management Group purchased a new stake in Exelon Corp. during the fourth quarter valued at $1,728,000. OppenheimerFunds Inc. purchased a new stake in Exelon Corp. during the fourth quarter valued at $1,821,000. Finally, Victory Capital Management Inc. increased its stake in Exelon Corp. by 43.7% in the fourth quarter. Victory Capital Management Inc. now owns 74,739 shares of the energy giant’s stock valued at $2,076,000 after buying an additional 22,720 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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