Traders Sell Shares of Exelon Corp. (EXC) on Strength (EXC)
Investors sold shares of Exelon Corp. (NYSE:EXC) on strength during trading hours on Thursday. $21.37 million flowed into the stock on the tick-up and $47.08 million flowed out of the stock on the tick-down, for a money net flow of $25.71 million out of the stock. Of all companies tracked, Exelon Corp. had the 0th highest net out-flow for the day. Exelon Corp. traded up $0.13 for the day and closed at $34.71
A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of Exelon Corp. from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Tuesday. Jefferies Group reissued a “buy” rating and issued a $40.00 price objective on shares of Exelon Corp. in a research report on Friday, August 12th. Morgan Stanley set a $38.00 price objective on shares of Exelon Corp. and gave the company a “hold” rating in a research report on Thursday, August 11th. Deutsche Bank AG boosted their price objective on shares of Exelon Corp. from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, August 11th. Finally, 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, August 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $36.27.
The firm’s 50-day moving average is $36.15 and its 200 day moving average is $34.58. The stock has a market capitalization of $31.72 billion and a price-to-earnings ratio of 23.01.
Exelon Corp. (NYSE:EXC) last posted its quarterly earnings results on Tuesday, August 9th. The energy giant reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. The company earned $6.90 billion during the quarter, compared to analysts’ expectations of $7.30 billion. Exelon Corp.’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the company earned $0.59 earnings per share. Analysts anticipate that Exelon Corp. will post $2.56 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Monday, August 15th will be given a $0.318 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend is Thursday, August 11th.
In other news, CEO Kenneth W. Cornew sold 30,000 shares of the stock in a transaction that occurred on 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 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 Securities & Exchange Commission, which is available through the SEC website.
Other hedge funds recently bought and sold shares of the company. Schroder Investment Management Group bought a new stake in Exelon Corp. during the fourth quarter worth about $1,728,000. Victory Capital Management Inc. raised 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 during the period. Stephens Inc. AR raised its stake in Exelon Corp. by 2.2% in the fourth quarter. Stephens Inc. AR now owns 93,630 shares of the energy giant’s stock worth $2,600,000 after buying an additional 2,007 shares during the period. Matarin Capital Management LLC bought a new stake in Exelon Corp. during the fourth quarter worth about $3,303,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Exelon Corp. by 4.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 121,860 shares of the energy giant’s stock worth $3,384,000 after buying an additional 5,625 shares during the period.
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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