OppenheimerFunds Inc. Has $33.45 Million Holdings in Exelon Co. (NYSE:EXC)
OppenheimerFunds Inc. lessened its stake in Exelon Co. (NYSE:EXC) by 33.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 667,168 shares of the energy giant’s stock after selling 341,896 shares during the period. OppenheimerFunds Inc.’s holdings in Exelon were worth $33,445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. First Bank & Trust purchased a new stake in shares of Exelon during the first quarter worth about $25,000. Centersquare Investment Management LLC purchased a new stake in shares of Exelon during the first quarter worth about $26,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of Exelon during the first quarter worth about $29,000. Braun Bostich & Associates Inc. grew its stake in shares of Exelon by 51.7% during the fourth quarter. Braun Bostich & Associates Inc. now owns 613 shares of the energy giant’s stock worth $28,000 after acquiring an additional 209 shares during the last quarter. Finally, Capital Financial Planning LLC purchased a new stake in shares of Exelon during the fourth quarter worth about $29,000. Institutional investors own 79.78% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. Goldman Sachs Group upgraded Exelon from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $43.00 to $47.00 in a research note on Tuesday, April 9th. Wells Fargo & Co upgraded Exelon from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $50.00 to $57.00 in a research note on Tuesday, April 2nd. Mizuho boosted their price target on Exelon from $47.00 to $49.50 and gave the stock a “neutral” rating in a research note on Thursday, May 16th. Morgan Stanley boosted their price target on Exelon from $52.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 16th. Finally, KeyCorp assumed coverage on Exelon in a research note on Tuesday, June 4th. They set a “sector weight” rating on the stock. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $49.28.
Exelon (NYSE:EXC) last issued its earnings results on Thursday, May 2nd. The energy giant reported $0.87 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.87. The firm had revenue of $9.48 billion for the quarter, compared to analyst estimates of $9.10 billion. Exelon had a return on equity of 8.85% and a net margin of 6.52%. Exelon’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.96 earnings per share. As a group, research analysts expect that Exelon Co. will post 3.14 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Wednesday, May 15th were given a $0.3625 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $1.45 dividend on an annualized basis and a yield of 2.88%. Exelon’s dividend payout ratio is currently 46.47%.
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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