Investors Buy Shares of Exelon Corp. (EXC) on Weakness
Investors purchased shares of Exelon Corp. (NYSE:EXC) on weakness during trading on Thursday. $71.76 million flowed into the stock on the tick-up and $48.66 million flowed out of the stock on the tick-down, for a money net flow of $23.10 million into the stock. Of all companies tracked, Exelon Corp. had the 3rd highest net in-flow for the day. Exelon Corp. traded down ($0.40) for the day and closed at $34.81
Several equities research analysts recently weighed in on EXC shares. Zacks Investment Research raised shares of Exelon Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, April 14th. Morgan Stanley set a $38.00 target price on shares of Exelon Corp. and gave the stock a “hold” rating in a research report on Thursday. Deutsche Bank AG downgraded shares of Exelon Corp. from a “buy” rating to a “hold” rating and lifted their target price for the stock from $34.00 to $36.00 in a research report on Monday, April 18th. They noted that the move was a valuation call. Bank of America Corp. reiterated a “hold” rating and set a $37.00 price target on shares of Exelon Corp. in a research note on Thursday. Finally, Jefferies Group reiterated a “buy” rating and set a $40.00 price target (up previously from $36.00) on shares of Exelon Corp. in a research note on Tuesday, May 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $36.04.
The firm has a 50 day moving average of $36.23 and a 200 day moving average of $34.32. The firm has a market capitalization of $32.09 billion and a PE ratio of 18.05.
Exelon Corp. (NYSE:EXC) last posted its quarterly earnings results on Tuesday, August 9th. The energy giant reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.09. The business earned $6.90 billion during the quarter, compared to analysts’ expectations of $7.30 billion. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.59 earnings per share. Equities analysts expect that Exelon Corp. will post $2.53 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Monday, August 15th will be paid a $0.318 dividend. This represents a $1.27 annualized dividend and a dividend yield of 3.65%. The ex-dividend date is Thursday, August 11th.
In other news, CEO Kenneth W. Cornew sold 30,000 shares of the firm’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $36.47, for a total value of $1,094,100.00. Following the transaction, the chief executive officer now directly owns 32,844 shares of the company’s stock, valued at $1,197,820.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
A number of large investors have recently added to or reduced their stakes in EXC. BlackRock Advisors LLC boosted its stake in Exelon Corp. by 53.9% in the fourth quarter. BlackRock Advisors LLC now owns 9,016,900 shares of the energy giant’s stock valued at $250,399,000 after buying an additional 3,157,991 shares during the last quarter. BlackRock Investment Management LLC boosted its stake in Exelon Corp. by 57.0% in the fourth quarter. BlackRock Investment Management LLC now owns 6,124,353 shares of the energy giant’s stock valued at $170,073,000 after buying an additional 2,223,806 shares during the last quarter. Wells Fargo & Company MN boosted its stake in 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 last quarter. Foresters Investment Management Company Inc. boosted its stake in Exelon Corp. by 6.6% in the fourth quarter. Foresters Investment Management Company Inc. now owns 816,800 shares of the energy giant’s stock valued at $22,683,000 after buying an additional 50,800 shares during the last quarter. Finally, Bridgewater Associates LP boosted its stake in Exelon Corp. by 16.5% in the fourth quarter. Bridgewater Associates LP now owns 778,563 shares of the energy giant’s stock valued at $21,621,000 after buying an additional 110,177 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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