Investors Buy Exelon (EXC) on Weakness
Traders purchased shares of Exelon Co. (NYSE:EXC) on weakness during trading on Wednesday. $60.36 million flowed into the stock on the tick-up and $27.67 million flowed out of the stock on the tick-down, for a money net flow of $32.69 million into the stock. Of all equities tracked, Exelon had the 28th highest net in-flow for the day. Exelon traded down ($0.58) for the day and closed at $39.04
Several research analysts recently commented on the company. Bank of America assumed coverage on Exelon in a research report on Tuesday, October 24th. They issued a “buy” rating and a $43.00 price target for the company. SunTrust Banks reiterated a “buy” rating and issued a $41.00 price target on shares of Exelon in a research report on Thursday, October 12th. Goldman Sachs Group lowered Exelon from a “neutral” rating to a “sell” rating and set a $35.00 target price for the company. in a research report on Wednesday, October 11th. J P Morgan Chase & Co boosted their target price on Exelon from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Thursday, October 12th. Finally, BidaskClub upgraded Exelon from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Exelon currently has a consensus rating of “Buy” and a consensus price target of $40.53.
The company has a current ratio of 1.03, a quick ratio of 0.89 and a debt-to-equity ratio of 1.06. The stock has a market cap of $38,070.00, a P/E ratio of 16.32, a price-to-earnings-growth ratio of 3.53 and a beta of 0.30.
The business also recently declared a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Wednesday, November 15th were paid a dividend of $0.3275 per share. This represents a $1.31 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend was Tuesday, November 14th. Exelon’s dividend payout ratio is presently 58.74%.
In related news, EVP Kenneth W. Cornew sold 25,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 28,363 shares of the company’s stock, valued at $1,061,910.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paymon Aliabadi sold 13,334 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $40.62, for a total transaction of $541,627.08. Following the completion of the transaction, the executive vice president now directly owns 26,435 shares of the company’s stock, valued at approximately $1,073,789.70. The disclosure for this sale can be found here. Insiders have sold 1,312,788 shares of company stock valued at $52,714,749 in the last ninety days. Insiders own 0.70% of the company’s stock.
Large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Exelon by 6.9% during the second quarter. Vanguard Group Inc. now owns 69,038,056 shares of the energy giant’s stock worth $2,490,203,000 after purchasing an additional 4,453,759 shares in the last quarter. FMR LLC increased its position in shares of Exelon by 11.5% during the second quarter. FMR LLC now owns 53,846,913 shares of the energy giant’s stock worth $1,942,258,000 after purchasing an additional 5,572,093 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Exelon by 60.2% during the second quarter. Franklin Resources Inc. now owns 10,920,256 shares of the energy giant’s stock worth $393,894,000 after purchasing an additional 4,102,441 shares in the last quarter. LSV Asset Management increased its position in shares of Exelon by 2.6% during the second quarter. LSV Asset Management now owns 10,891,305 shares of the energy giant’s stock worth $392,849,000 after purchasing an additional 272,700 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Exelon by 3.1% during the third quarter. Wells Fargo & Company MN now owns 9,402,609 shares of the energy giant’s stock worth $354,196,000 after purchasing an additional 280,855 shares in the last quarter. 77.26% of the stock is owned by institutional investors.
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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