Exelon Corp. (EXC) Lifted to Buy at Morgan Stanley
Exelon Corp. (NYSE:EXC) was upgraded by investment analysts at Morgan Stanley to a “buy” rating in a research note issued on Friday. The firm presently has a $37.00 target price on the energy giant’s stock. Morgan Stanley’s price objective indicates a potential upside of 17.50% from the stock’s current price.
A number of other equities analysts have also weighed in on EXC. Deutsche Bank AG upgraded Exelon Corp. from a “hold” rating to a “buy” rating and upped their target price for the stock from $36.00 to $39.00 in a research note on Friday, July 22nd. Zacks Investment Research upgraded Exelon Corp. from a “sell” rating to a “hold” rating in a research note on Monday, July 25th. Bank of America Corp. restated a “hold” rating and issued a $37.00 target price on shares of Exelon Corp. in a research note on Thursday, August 11th. Jefferies Group restated a “buy” rating and issued a $40.00 target price on shares of Exelon Corp. in a research note on Friday, August 12th. Finally, JPMorgan Chase & Co. decreased their target price on Exelon Corp. from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $36.92.
Exelon Corp. (NYSE:EXC) opened at 31.49 on Friday. The firm has a market cap of $29.07 billion, a P/E ratio of 23.61 and a beta of 0.21. 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 price is $32.58 and its 200-day moving average price is $34.42.
Exelon Corp. (NYSE:EXC) last announced its earnings results on Wednesday, October 26th. The energy giant reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.13. The business had revenue of $8.84 billion for the quarter, compared to analyst estimates of $7.97 billion. Exelon Corp. had a return on equity of 8.81% and a net margin of 3.88%. The company’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.83 EPS. Equities research analysts expect that Exelon Corp. will post $2.66 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Tuesday, November 15th will be issued a dividend of $0.318 per share. This represents a $1.27 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Thursday, November 10th. Exelon Corp.’s dividend payout ratio is presently 94.78%.
In related news, CEO Calvin Butler, Jr. sold 6,403 shares of the 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 completion of the sale, the chief executive officer now directly owns 18,109 shares in the company, valued at approximately $633,815. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.80% of the company’s stock.
A number of large investors have recently modified their holdings of EXC. Chevy Chase Trust Holdings Inc. boosted its stake in shares of Exelon Corp. by 1.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 792,690 shares of the energy giant’s stock valued at $28,822,000 after buying an additional 11,062 shares in the last quarter. Exxonmobil Investment Management Inc. TX boosted its stake in shares of Exelon Corp. by 6.5% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 238,609 shares of the energy giant’s stock valued at $8,676,000 after buying an additional 14,630 shares in the last quarter. CHICAGO TRUST Co NA boosted its stake in shares of Exelon Corp. by 1.2% in the second quarter. CHICAGO TRUST Co NA now owns 9,759 shares of the energy giant’s stock valued at $355,000 after buying an additional 112 shares in the last quarter. DNB Asset Management AS boosted its stake in shares of Exelon Corp. by 13.2% in the second quarter. DNB Asset Management AS now owns 83,239 shares of the energy giant’s stock valued at $3,027,000 after buying an additional 9,700 shares in the last quarter. Finally, Raymond James Trust N.A. boosted its stake in shares of Exelon Corp. by 1.1% in the second quarter. Raymond James Trust N.A. now owns 28,439 shares of the energy giant’s stock valued at $1,034,000 after buying an additional 308 shares in the last quarter. Institutional investors own 75.06% 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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