Exelon Corporation (EXC) to Issue $0.33 Quarterly Dividend
Exelon Corporation (NYSE:EXC) announced a quarterly dividend on Monday, September 25th, RTT News reports. Shareholders of record on Wednesday, November 15th will be paid a dividend of 0.3275 per share by the energy giant on Friday, December 8th. This represents a $1.31 dividend on an annualized basis and a yield of 3.53%.
Exelon Corporation has decreased its dividend payment by an average of 4.6% per year over the last three years. Exelon Corporation has a payout ratio of 49.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Exelon Corporation to earn $2.84 per share next year, which means the company should continue to be able to cover its $1.31 annual dividend with an expected future payout ratio of 46.1%.
Exelon Corporation (NYSE:EXC) last posted its earnings results on Wednesday, August 2nd. The energy giant reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.02. Exelon Corporation had a net margin of 5.41% and a return on equity of 8.47%. The firm had revenue of $7.62 billion during the quarter, compared to analyst estimates of $7.88 billion. During the same quarter in the prior year, the business posted $0.65 EPS. The business’s revenue was up 10.3% compared to the same quarter last year.
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Several research firms have recently issued reports on EXC. Barclays PLC reiterated an “overweight” rating and issued a $44.00 target price (up previously from $43.00) on shares of Exelon Corporation in a research note on Thursday, August 3rd. BidaskClub upgraded shares of Exelon Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Morgan Stanley upped their target price on shares of Exelon Corporation from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, September 8th. KeyCorp reiterated a “buy” rating and issued a $41.00 target price on shares of Exelon Corporation in a research note on Friday, September 1st. Finally, Citigroup Inc. upgraded shares of Exelon Corporation from a “neutral” rating to a “buy” rating and upped their target price for the stock from $36.00 to $43.00 in a research note on Thursday, July 27th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $40.17.
In other Exelon Corporation news, EVP Jonathan W. Thayer sold 215,669 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $38.00, for a total transaction of $8,195,422.00. Following the sale, the executive vice president now directly owns 237,181 shares of the company’s stock, valued at $9,012,878. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Jonathan W. Thayer sold 202,950 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $38.00, for a total transaction of $7,712,100.00. Following the sale, the chief financial officer now directly owns 237,181 shares in the company, valued at $9,012,878. The disclosure for this sale can be found here. Insiders sold a total of 461,952 shares of company stock worth $17,573,309 over the last three months. 0.70% of the stock is owned by insiders.
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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