Investors Buy 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 equities 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
EXC has been the subject of a number of recent analyst reports. Deutsche Bank AG cut shares of Exelon Corp. from a “buy” rating to a “hold” rating and upped their price target 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. Jefferies Group reiterated a “buy” rating and issued a $40.00 target price (up previously from $36.00) on shares of Exelon Corp. in a research note on Tuesday, May 10th. Zacks Investment Research upgraded shares of Exelon Corp. from a “sell” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Tuesday, May 10th. Bank of America Corp. reiterated a “hold” rating and issued a $35.00 target price on shares of Exelon Corp. in a research note on Tuesday, May 24th. Finally, Citigroup Inc. increased their target price on shares of Exelon Corp. from $27.00 to $29.00 and gave the company a “sell” rating in a research note on Wednesday, July 20th. One 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 company’s stock. Exelon Corp. has a consensus rating of “Buy” and a consensus target price of $36.04.
The company has a market cap of $32.25 billion and a price-to-earnings ratio of 23.39. The company’s 50 day moving average is $36.23 and its 200-day moving average is $34.37.
Exelon Corp. (NYSE:EXC) last announced its earnings results on Tuesday, August 9th. The energy giant reported $0.65 EPS for the quarter, topping the consensus estimate of $0.56 by $0.09. The company had revenue of $6.90 billion for the quarter, compared to the consensus estimate of $7.30 billion. During the same period in the previous year, the firm posted $0.59 EPS. The business’s quarterly revenue was up 6.1% on a year-over-year basis. Equities analysts anticipate that Exelon Corp. will post $2.54 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Monday, August 15th will be issued a dividend of $0.318 per share. This represents a $1.27 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend is Thursday, August 11th.
In other Exelon Corp. news, CEO Kenneth W. Cornew sold 30,000 shares of the business’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 completion of the sale, the chief executive officer now owns 32,844 shares of the company’s stock, valued at approximately $1,197,820.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Other hedge funds have bought and sold shares of the company. Wells Fargo & Company MN increased 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 worth $39,355,000 after buying an additional 408,240 shares in the last quarter. Schroder Investment Management Group acquired a new stake in Exelon Corp. during the fourth quarter worth about $1,728,000. 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 worth $2,076,000 after buying an additional 22,720 shares in the last quarter. Suntrust Banks Inc. increased its stake in Exelon Corp. by 70.2% in the fourth quarter. Suntrust Banks Inc. now owns 93,385 shares of the energy giant’s stock worth $2,591,000 after buying an additional 38,502 shares in the last quarter. Finally, Alpine Woods Capital Investors LLC increased its stake in Exelon Corp. by 19.1% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 85,700 shares of the energy giant’s stock worth $2,380,000 after buying an additional 13,764 shares in 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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