Jefferies Group Reiterates Buy Rating for Exelon Corp. (EXC)
Exelon Corp. (NYSE:EXC)‘s stock had its “buy” rating reiterated by equities research analysts at Jefferies Group in a report issued on Monday. They presently have a $36.00 price objective on the energy giant’s stock. Jefferies Group’s price objective suggests a potential upside of 11.87% from the stock’s previous close.
Other equities analysts have also recently issued reports about the stock. Deutsche Bank AG raised shares of Exelon Corp. from a “hold” rating to a “buy” rating and lifted their price target for the stock from $36.00 to $39.00 in a research report on Friday, July 22nd. Bank of America Corp. reissued a “hold” rating and set a $37.00 price target on shares of Exelon Corp. in a research report on Thursday, August 11th. Zacks Investment Research raised shares of Exelon Corp. from a “sell” rating to a “hold” rating in a research report on Monday, July 25th. Morgan Stanley set a $38.00 price target on shares of Exelon Corp. and gave the stock a “hold” rating in a research report on Thursday, August 11th. Finally, Barclays PLC reduced their price target on shares of Exelon Corp. from $41.00 to $39.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 31st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $36.33.
Exelon Corp. (NYSE:EXC) opened at 32.18 on Monday. Exelon Corp. has a 52-week low of $25.09 and a 52-week high of $37.70. The firm’s 50-day moving average is $33.84 and its 200 day moving average is $34.87. The firm has a market capitalization of $29.70 billion, a P/E ratio of 21.54 and a beta of 0.25.
Exelon Corp. (NYSE:EXC) last announced its quarterly earnings results on Tuesday, August 9th. The energy giant reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. The company had revenue of $6.90 billion for the quarter, compared to analysts’ expectations of $7.30 billion. Exelon Corp. had a net margin of 4.58% and a return on equity of 8.52%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the firm posted $0.59 earnings per share. Equities analysts anticipate that Exelon Corp. will post $2.55 EPS for the current year.
In other news, CEO Kenneth W. Cornew sold 30,000 shares of the business’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $36.47, for a total transaction of $1,094,100.00. Following the transaction, the chief executive officer now directly owns 32,844 shares in the company, valued at approximately $1,197,820.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Calvin Butler, Jr. sold 6,403 shares of the business’s stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $35.00, for a total transaction of $224,105.00. Following the transaction, the chief executive officer now owns 18,109 shares in the company, valued at $633,815. The disclosure for this sale can be found here. Insiders own 0.80% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC raised its position in Exelon Corp. by 289.7% in the third quarter. Advisory Services Network LLC now owns 3,351 shares of the energy giant’s stock valued at $112,000 after buying an additional 2,491 shares in the last quarter. Foundry Partners LLC raised its position in Exelon Corp. by 81.5% in the third quarter. Foundry Partners LLC now owns 599,850 shares of the energy giant’s stock valued at $19,969,000 after buying an additional 269,350 shares in the last quarter. Burke & Herbert Bank & Trust Co. raised its position in Exelon Corp. by 1.3% in the third quarter. Burke & Herbert Bank & Trust Co. now owns 6,071 shares of the energy giant’s stock valued at $202,000 after buying an additional 77 shares in the last quarter. Indiana Trust & Investment Management CO raised its position in Exelon Corp. by 0.7% in the third quarter. Indiana Trust & Investment Management CO now owns 11,405 shares of the energy giant’s stock valued at $380,000 after buying an additional 80 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Exelon Corp. during the second quarter valued at $1,353,000. Institutional investors own 74.90% of the company’s stock.
Exelon Corp. Company Profile
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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