Investors Buy Exelon Corporation (EXC) on Weakness
Investors purchased shares of Exelon Corporation (NYSE:EXC) on weakness during trading on Tuesday. $44.14 million flowed into the stock on the tick-up and $20.39 million flowed out of the stock on the tick-down, for a money net flow of $23.75 million into the stock. Of all equities tracked, Exelon Corporation had the 32nd highest net in-flow for the day. Exelon Corporation traded down ($0.07) for the day and closed at $39.60
EXC has been the topic of several recent research reports. BidaskClub raised shares of Exelon Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. 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 issued a $41.00 price objective on shares of Exelon Corporation in a research note on Monday, July 17th. Citigroup Inc. raised shares of Exelon Corporation from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $36.00 to $43.00 in a research note on Thursday, July 27th. Finally, Barclays PLC reaffirmed an “overweight” rating and issued a $44.00 price objective (up previously from $43.00) on shares of Exelon Corporation in a research note on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $40.23.
The firm has a market capitalization of $38.02 billion, a PE ratio of 20.94 and a beta of 0.29. The stock’s 50 day moving average price is $37.87 and its 200-day moving average price is $36.70.
Exelon Corporation (NYSE:EXC) last released its quarterly earnings data on Wednesday, August 2nd. The energy giant reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. Exelon Corporation had a return on equity of 8.47% and a net margin of 5.41%. The company had revenue of $7.62 billion during the quarter, compared to the consensus estimate of $7.88 billion. During the same quarter in the prior year, the firm posted $0.65 EPS. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, equities analysts predict that Exelon Corporation will post $2.68 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Wednesday, November 15th will be given a dividend of $0.3275 per share. This represents a $1.31 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend is Tuesday, November 14th. Exelon Corporation’s payout ratio is 68.59%.
In other Exelon Corporation news, CFO Jonathan W. Thayer sold 202,950 shares of the stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $38.00, for a total transaction of $7,712,100.00. Following the transaction, the chief financial officer now owns 237,181 shares in the company, valued at approximately $9,012,878. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Denis P. O’brien sold 30,000 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $38.50, for a total value of $1,155,000.00. Following the transaction, the insider now owns 57,243 shares in the company, valued at approximately $2,203,855.50. The disclosure for this sale can be found here. Insiders have sold a total of 486,952 shares of company stock worth $18,509,309 in the last quarter. Company insiders own 0.70% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its position in Exelon Corporation by 3,711.9% during the 1st 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 during the period. Heartland Advisors Inc. increased its position in Exelon Corporation by 3.9% during the 2nd quarter. Heartland Advisors Inc. now owns 373,842 shares of the energy giant’s stock worth $13,484,000 after buying an additional 13,982 shares during the period. Calamos Advisors LLC increased its position in Exelon Corporation by 667.0% during the 2nd quarter. Calamos Advisors LLC now owns 714,316 shares of the energy giant’s stock worth $25,765,000 after buying an additional 621,188 shares during the period. Baillie Gifford & Co. increased its position in Exelon Corporation by 8.0% during the 2nd quarter. Baillie Gifford & Co. now owns 404,952 shares of the energy giant’s stock worth $14,606,000 after buying an additional 29,825 shares during the period. Finally, CI Global Investments Inc. bought a new position in Exelon Corporation during the 2nd quarter worth $136,723,000. Hedge funds and other institutional investors own 76.78% of the company’s stock.
Exelon Corporation Company Profile
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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