SunTrust Banks, Inc. Reaffirms “Buy” Rating for Exelon Corporation (EXC)
Several other equities analysts have also recently weighed in on the stock. Morgan Stanley raised their price target on shares of Exelon Corporation from $37.00 to $40.00 and gave the stock an equal weight rating in a research note on Friday, September 8th. BidaskClub raised shares of Exelon Corporation from a buy rating to a strong-buy rating in a research note on Saturday, August 26th. Wolfe Research raised shares of Exelon Corporation from a market perform rating to an outperform rating in a research note on Monday, July 17th. Deutsche Bank AG reaffirmed a buy rating and set a $41.00 price target on shares of Exelon Corporation in a research note on Monday, July 17th. Finally, Barclays PLC reaffirmed an overweight rating and set a $44.00 price target (up from $43.00) on shares of Exelon Corporation in a research note on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $40.23.
Shares of Exelon Corporation (EXC) opened at 39.24 on Thursday. Exelon Corporation has a 1-year low of $29.82 and a 1-year high of $39.43. The firm has a 50-day moving average of $37.87 and a 200-day moving average of $36.70. The firm has a market capitalization of $37.67 billion, a PE ratio of 20.75 and a beta of 0.29.
Exelon Corporation (NYSE:EXC) last issued its quarterly earnings results on Wednesday, August 2nd. The energy giant reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.02. The company had revenue of $7.62 billion during the quarter, compared to analysts’ expectations of $7.88 billion. Exelon Corporation had a net margin of 5.41% and a return on equity of 8.47%. The business’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the business earned $0.65 EPS. On average, equities research analysts anticipate that Exelon Corporation will post $2.69 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.3275 per share. This represents a $1.31 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date is Tuesday, November 14th. Exelon Corporation’s dividend payout ratio is currently 68.59%.
In other news, EVP Kenneth W. Cornew sold 25,000 shares of Exelon Corporation stock in a transaction on Monday, September 25th. The stock was sold at an average price of $37.44, for a total transaction of $936,000.00. Following the completion of the sale, the executive vice president now owns 28,363 shares of the company’s stock, valued at $1,061,910.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jonathan W. Thayer sold 215,669 shares of Exelon Corporation stock in a transaction on Friday, July 28th. The stock was sold at an average price of $38.00, for a total value of $8,195,422.00. Following the sale, the executive vice president now directly owns 237,181 shares of the company’s stock, valued at approximately $9,012,878. The disclosure for this sale can be found here. Insiders have sold 486,952 shares of company stock valued at $18,509,309 in the last three months. Insiders own 0.70% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Exelon Corporation by 3,711.9% during the first quarter. BlackRock Inc. now owns 74,283,986 shares of the energy giant’s stock worth $2,672,738,000 after buying an additional 72,335,239 shares in the last quarter. Heartland Advisors Inc. increased its position in shares of Exelon Corporation by 3.9% in the second quarter. Heartland Advisors Inc. now owns 373,842 shares of the energy giant’s stock worth $13,484,000 after purchasing an additional 13,982 shares during the period. Calamos Advisors LLC increased its position in shares of Exelon Corporation by 667.0% in the second quarter. Calamos Advisors LLC now owns 714,316 shares of the energy giant’s stock worth $25,765,000 after purchasing an additional 621,188 shares during the period. Baillie Gifford & Co. increased its position in shares of Exelon Corporation by 8.0% in the second quarter. Baillie Gifford & Co. now owns 404,952 shares of the energy giant’s stock worth $14,606,000 after purchasing an additional 29,825 shares during the period. Finally, CI Global Investments Inc. bought a new position in shares of Exelon Corporation in the second quarter worth $136,723,000. 76.78% of the stock is owned by institutional investors.
About Exelon Corporation
Exelon Corporation is a utility services holding company. The Company, through its subsidiary, Exelon Generation Company, LLC (Generation), is engaged in the energy generation business. The Company, through its subsidiaries, Commonwealth Edison Company (ComEd), PECO Energy Company (PECO), Baltimore Gas and Electric Company (BGE), Pepco Holdings LLC (PHI), Potomac Electric Power Company (Pepco), Delmarva Power & Light Company (DPL) and Atlantic City Electric Company (ACE), is engaged in the energy delivery businesses.
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