Exelon Co. (EXC) Stake Increased by Ninepoint Partners LP
Ninepoint Partners LP lifted its holdings in Exelon Co. (NYSE:EXC) by 24.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,279 shares of the energy giant’s stock after buying an additional 1,222 shares during the period. Ninepoint Partners LP’s holdings in Exelon were worth $315,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. First Bank & Trust acquired a new stake in shares of Exelon in the first quarter worth $25,000. Braun Bostich & Associates Inc. boosted its position in shares of Exelon by 51.7% in the fourth quarter. Braun Bostich & Associates Inc. now owns 613 shares of the energy giant’s stock worth $28,000 after buying an additional 209 shares during the period. Capital Financial Planning LLC acquired a new stake in shares of Exelon in the fourth quarter worth $29,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of Exelon in the first quarter worth $29,000. Finally, Truvestments Capital LLC acquired a new stake in shares of Exelon in the first quarter worth $34,000. 80.23% of the stock is owned by institutional investors and hedge funds.
In other Exelon news, EVP Paymon Aliabadi sold 17,500 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $48.36, for a total transaction of $846,300.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Joseph Nigro sold 53,800 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $49.59, for a total value of $2,667,942.00. Following the transaction, the executive vice president now owns 99,574 shares in the company, valued at $4,937,874.66. The disclosure for this sale can be found here. 0.27% of the stock is owned by company insiders.
Exelon (NYSE:EXC) last posted its earnings results on Thursday, May 2nd. The energy giant reported $0.87 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.87. Exelon had a return on equity of 8.85% and a net margin of 6.52%. The company had revenue of $9.48 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same period last year, the company earned $0.96 earnings per share. The business’s revenue was down 2.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Exelon Co. will post 3.14 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.3625 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.45 annualized dividend and a yield of 2.96%. Exelon’s dividend payout ratio (DPR) is currently 46.47%.
A number of analysts recently issued reports on the company. Morgan Stanley lifted their price objective on Exelon from $52.00 to $53.00 and gave the company an “equal weight” rating in a research report on Thursday. Mizuho lifted their price objective on Exelon from $47.00 to $49.50 and gave the company a “neutral” rating in a research report on Thursday. Goldman Sachs Group raised Exelon from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $43.00 to $47.00 in a research report on Tuesday, April 9th. Wells Fargo & Co raised Exelon from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $50.00 to $57.00 in a research report on Tuesday, April 2nd. Finally, Scotiabank reissued a “buy” rating and set a $50.00 price objective on shares of Exelon in a research report on Wednesday, February 13th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $48.97.
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Exelon Corporation, a utility services holding company, engages in energy generation and delivery businesses in the United States and Canada. It owns nuclear, fossil, wind, hydroelectric, and solar generating facilities. The company also sells electricity to wholesale and retail customers; and sells natural gas, renewable energy, and other energy-related products and services.
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