Investors Buy Shares of Exelon Corp. (EXC) on Weakness
Traders bought shares of Exelon Corp. (NYSE:EXC) on weakness during trading on Thursday. $52.67 million flowed into the stock on the tick-up and $24.52 million flowed out of the stock on the tick-down, for a money net flow of $28.15 million into the stock. Of all stocks tracked, Exelon Corp. had the 9th highest net in-flow for the day. Exelon Corp. traded down ($0.36) for the day and closed at $36.39
EXC has been the topic of a number of recent analyst reports. Deutsche Bank AG reiterated a “buy” rating and issued a $34.00 price objective on shares of Exelon Corp. in a report on Sunday, March 27th. Zacks Investment Research upgraded Exelon Corp. from a “sell” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Tuesday, May 10th. Jefferies Group reiterated a “buy” rating and issued a $40.00 price objective (up previously from $36.00) on shares of Exelon Corp. in a report on Tuesday, May 10th. Morgan Stanley initiated coverage on Exelon Corp. in a report on Wednesday, April 6th. They issued an “equal weight” rating and a $38.00 price objective on the stock. Finally, Bank of America Corp. reiterated a “hold” rating and issued a $35.00 price objective on shares of Exelon Corp. in a report on Tuesday, May 24th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $35.54.
The firm has a 50 day moving average price of $35.11 and a 200-day moving average price of $33.14. The company has a market capitalization of $33.55 billion and a P/E ratio of 18.86.
Exelon Corp. (NYSE:EXC) last issued its quarterly earnings results 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 last year, the business earned $0.71 earnings per share. Equities analysts predict that Exelon Corp. will post $2.50 earnings per share for the current fiscal year.
In other Exelon Corp. news, Chairman Mayo A. Shattuck III sold 327,000 shares of Exelon Corp. 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 sale, the chairman now directly owns 760,938 shares in the company, valued at approximately $26,861,111.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Other large investors have modified their holdings of the company. State of Tennessee Treasury Department raised its stake in shares of Exelon Corp. by 0.5% in the fourth quarter. State of Tennessee Treasury Department now owns 542,098 shares of the energy giant’s stock valued at $15,054,000 after buying an additional 2,571 shares during the last quarter. Foresters Investment Management Company Inc. raised its stake in shares of 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. Matarin Capital Management LLC acquired a new stake in shares of Exelon Corp. during the fourth quarter valued at about $3,303,000. Stephens Inc. AR raised its stake in shares of Exelon Corp. by 2.2% in the fourth quarter. Stephens Inc. AR now owns 93,630 shares of the energy giant’s stock valued at $2,600,000 after buying an additional 2,007 shares during the last quarter. Finally, I.G. Investment Management LTD. raised its stake in shares of Exelon Corp. by 41.4% in the fourth quarter. I.G. Investment Management LTD. now owns 142,547 shares of the energy giant’s stock valued at $3,959,000 after buying an additional 41,746 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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