Traders Buy Exelon (EXC) on Weakness
Investors purchased shares of Exelon Co. (NYSE:EXC) on weakness during trading hours on Friday. $95.30 million flowed into the stock on the tick-up and $21.51 million flowed out of the stock on the tick-down, for a money net flow of $73.79 million into the stock. Of all companies tracked, Exelon had the 31st highest net in-flow for the day. Exelon traded down ($0.07) for the day and closed at $40.74
Several brokerages recently commented on EXC. Morgan Stanley increased their price objective on shares of Exelon from $42.00 to $43.00 and gave the company an “equal weight” rating in a research report on Wednesday. Mizuho began coverage on shares of Exelon in a report on Friday. They set an “underperform” rating and a $36.00 price target on the stock. Royal Bank of Canada reaffirmed a “buy” rating and set a $43.00 price target on shares of Exelon in a report on Tuesday, November 7th. Zacks Investment Research raised shares of Exelon from a “sell” rating to a “hold” rating in a report on Friday, October 20th. Finally, Bank of America began coverage on shares of Exelon in a report on Tuesday, October 24th. They set a “buy” rating and a $43.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $40.53.
The company has a market capitalization of $39,488.41, a P/E ratio of 16.58, a P/E/G ratio of 3.58 and a beta of 0.30. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.03 and a quick ratio of 0.89.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Wednesday, November 15th were given a dividend of $0.3275 per share. This represents a $1.31 annualized dividend and a dividend yield of 3.22%. The ex-dividend date was Tuesday, November 14th. Exelon’s payout ratio is currently 58.74%.
In related news, EVP Kenneth W. Cornew sold 25,000 shares of the business’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $37.44, for a total value of $936,000.00. Following the sale, the executive vice president now owns 28,363 shares in the company, valued at $1,061,910.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mayo A. Shattuck III sold 567,070 shares of the business’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $40.12, for a total transaction of $22,750,848.40. Following the completion of the sale, the chairman now owns 746,986 shares in the company, valued at approximately $29,969,078.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,312,788 shares of company stock worth $52,714,749. Company insiders own 0.70% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of Nova Scotia Trust Co. bought a new stake in Exelon in the third quarter worth $102,000. Sandy Spring Bank boosted its stake in Exelon by 10.1% during the second quarter. Sandy Spring Bank now owns 2,963 shares of the energy giant’s stock worth $107,000 after buying an additional 271 shares during the period. Sterling Investment Advisors Ltd. boosted its stake in Exelon by 1.2% during the second quarter. Sterling Investment Advisors Ltd. now owns 3,145 shares of the energy giant’s stock worth $113,000 after buying an additional 37 shares during the period. Live Your Vision LLC boosted its stake in Exelon by 0.9% during the second quarter. Live Your Vision LLC now owns 2,977 shares of the energy giant’s stock worth $115,000 after buying an additional 26 shares during the period. Finally, Hudock Capital Group LLC boosted its stake in Exelon by 0.4% during the second quarter. Hudock Capital Group LLC now owns 3,206 shares of the energy giant’s stock worth $115,000 after buying an additional 13 shares during the period. Institutional investors own 77.45% of the company’s stock.
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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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