Exelon Corporation (EXC) Downgraded by Zacks Investment Research
Zacks Investment Research cut shares of Exelon Corporation (NYSE:EXC) from a hold rating to a sell rating in a report released on Tuesday.
According to Zacks, “Year to date shares of the Exelon Corporation have returned lower than the industry it belongs to. Exelon is subject to the impact of commodity price volatility, price fluctuation in the wholesale markets and unfavorable weather conditions. Stringent government regulation is also a cause of concern. However, Exelon is well positioned to gain from rate revisions and strong operational performance across its business. Exelon continues with its hedging program to manage market risks and protect the value of its generation. Further, the company is gaining from the Pepco Holdings acquisition. It is also expected to reap the benefits from its organic investment and acquisition. “
A number of other research analysts have also weighed in on the company. Morgan Stanley increased their price target on Exelon Corporation from $37.00 to $40.00 and gave the stock an equal weight rating in a research note on Friday, September 8th. BidaskClub raised Exelon Corporation from a buy rating to a strong-buy rating in a research note on Saturday, August 26th. Wolfe Research raised Exelon Corporation from a market perform rating to an outperform rating in a research note on Monday, July 17th. Deutsche Bank AG reissued a buy rating and set a $41.00 price target on shares of Exelon Corporation in a research note on Monday, July 17th. Finally, Barclays PLC reissued an overweight rating and set a $44.00 price target (up previously from $43.00) on shares of Exelon Corporation in a research note on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Buy and an average target price of $40.23.
Shares of Exelon Corporation (NYSE EXC) traded up 1.13% during mid-day trading on Tuesday, reaching $39.38. The company’s stock had a trading volume of 2,800,466 shares. Exelon Corporation has a 1-year low of $29.82 and a 1-year high of $39.43. The company’s 50 day moving average price is $37.85 and its 200-day moving average price is $36.67. The company has a market capitalization of $37.81 billion, a price-to-earnings ratio of 20.82 and a beta of 0.29.
Exelon Corporation (NYSE:EXC) last issued its quarterly earnings results on Wednesday, August 2nd. The energy giant reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $7.88 billion. During the same quarter in the prior year, the company posted $0.65 EPS. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. Analysts predict that Exelon Corporation will post $2.69 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Wednesday, November 15th will be given a $0.3275 dividend. This represents a $1.31 annualized dividend and a dividend yield of 3.36%. The ex-dividend date is Tuesday, November 14th. Exelon Corporation’s dividend payout ratio (DPR) is currently 68.59%.
In other Exelon Corporation news, insider Denis P. O’brien sold 30,000 shares of the firm’s stock in a transaction dated 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 directly owns 57,243 shares of the company’s stock, valued at $2,203,855.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kenneth W. Cornew sold 25,000 shares of the firm’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $37.44, for a total value of $936,000.00. Following the completion of the transaction, the executive vice president now directly owns 28,363 shares in the company, valued at $1,061,910.72. The disclosure for this sale can be found here. Insiders sold 486,952 shares of company stock worth $18,509,309 over the last three months. 0.70% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in EXC. BlackRock Inc. raised its position in Exelon Corporation by 3,711.9% in the first quarter. BlackRock Inc. now owns 74,283,986 shares of the energy giant’s stock valued at $2,672,738,000 after purchasing an additional 72,335,239 shares during the period. FMR LLC raised its position in Exelon Corporation by 11.5% in the second quarter. FMR LLC now owns 53,846,913 shares of the energy giant’s stock valued at $1,942,258,000 after purchasing an additional 5,572,093 shares during the period. Vanguard Group Inc. raised its position in Exelon Corporation by 6.9% in the second quarter. Vanguard Group Inc. now owns 69,038,056 shares of the energy giant’s stock valued at $2,490,203,000 after purchasing an additional 4,453,759 shares during the period. Franklin Resources Inc. raised its position in Exelon Corporation by 60.2% in the second quarter. Franklin Resources Inc. now owns 10,920,256 shares of the energy giant’s stock valued at $393,894,000 after purchasing an additional 4,102,441 shares during the period. Finally, CI Global Investments Inc. purchased a new position in Exelon Corporation in the second quarter valued at about $136,723,000. 76.78% of the stock is currently owned by institutional investors.
About Exelon Corporation
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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