Exelon Corp. (EXC) Trading Down 2.3%
Exelon Corp. (NYSE:EXC) shares traded down 2.3% on Thursday . The stock traded as low as $34.60 and last traded at $34.73, with a volume of 4,485,385 shares traded. The stock had previously closed at $35.53.
Several research analysts have weighed in on the company. Morgan Stanley set a $38.00 price objective on Exelon Corp. and gave the stock a “hold” rating in a research report on Thursday. Deutsche Bank AG boosted their price objective on Exelon Corp. from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday. Bank of America Corp. reissued a “hold” rating and issued a $37.00 price objective on shares of Exelon Corp. in a research report on Thursday. Zacks Investment Research raised Exelon Corp. from a “sell” rating to a “hold” rating in a research report on Monday, July 25th. Finally, Citigroup Inc. boosted their price objective on Exelon Corp. from $27.00 to $29.00 and gave the stock a “sell” rating in a research report on Wednesday, July 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Exelon Corp. currently has an average rating of “Buy” and an average target price of $36.04.
The stock has a market capitalization of $32.09 billion and a P/E ratio of 18.05. The firm has a 50 day moving average price of $36.23 and a 200-day moving average price of $34.32.
Exelon Corp. (NYSE:EXC) last posted its earnings results on Tuesday, August 9th. The energy giant reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. The firm earned $6.90 billion during the quarter, compared to the consensus estimate of $7.30 billion. During the same period in the prior year, the company posted $0.59 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. Analysts expect that Exelon Corp. will post $2.53 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Monday, August 15th will be issued a $0.318 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 3.65%. 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 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 transaction, the chief executive officer now owns 32,844 shares of the company’s stock, valued at $1,197,820.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
A number of hedge funds and institutional investors have recently bought and sold shares of the stock. BlackRock Advisors LLC increased its position 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 worth $250,399,000 after buying an additional 3,157,991 shares in the last quarter. Utah Retirement Systems boosted its stake in shares of Exelon Corp. by 6.9% in the fourth quarter. Utah Retirement Systems now owns 164,865 shares of the energy giant’s stock worth $4,578,000 after buying an additional 10,700 shares during the last quarter. State of Tennessee Treasury Department boosted 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 worth $15,054,000 after buying an additional 2,571 shares during the last quarter. Foresters Investment Management Company Inc. boosted 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 worth $22,683,000 after buying an additional 50,800 shares during the last quarter. Finally, Matarin Capital Management LLC bought a new stake in shares of Exelon Corp. during the fourth quarter worth 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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