Jefferies Group reiterated their buy rating on shares of Exelon Corp. (NYSE:EXC) in a report released on Monday. The brokerage currently has a $36.00 target price on the energy giant’s stock, down from their prior target price of $40.00.
Other equities research analysts have also recently issued research reports about the company. Deutsche Bank AG upgraded Exelon Corp. from a hold rating to a buy rating and boosted their price objective for the company from $36.00 to $39.00 in a research note on Friday, July 22nd. Bank of America Corp. reissued a hold rating and issued a $37.00 target price on shares of Exelon Corp. in a report on Thursday, August 11th. Zacks Investment Research raised Exelon Corp. from a sell rating to a hold rating in a report on Monday, July 25th. Morgan Stanley set a $38.00 target price on Exelon Corp. and gave the company a hold rating in a report on Thursday, August 11th. Finally, Barclays PLC dropped their target price on Exelon Corp. from $41.00 to $39.00 and set an overweight rating on the stock in a report on Wednesday, August 31st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. Exelon Corp. currently has an average rating of Hold and an average price target of $36.33.
Exelon Corp. (NYSE:EXC) opened at 32.51 on Monday. Exelon Corp. has a 1-year low of $25.09 and a 1-year high of $37.70. The company has a 50-day moving average price of $33.66 and a 200 day moving average price of $34.82. The firm has a market capitalization of $30.00 billion, a P/E ratio of 21.76 and a beta of 0.25.
Exelon Corp. (NYSE:EXC) last issued its quarterly earnings data on Tuesday, August 9th. The energy giant reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.09. Exelon Corp. had a return on equity of 8.52% and a net margin of 4.58%. The company earned $6.90 billion during the quarter, compared to analysts’ expectations of $7.30 billion. During the same quarter in the previous year, the business earned $0.59 earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. Analysts expect that Exelon Corp. will post $2.55 earnings per share for the current fiscal year.
In other news, CEO Calvin Butler, Jr. sold 6,403 shares of the company’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $35.00, for a total value of $224,105.00. Following the sale, the chief executive officer now directly owns 18,109 shares in the company, valued at $633,815. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kenneth W. Cornew sold 30,000 shares of the company’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $36.47, for a total value of $1,094,100.00. Following the completion of the sale, the chief executive officer now owns 32,844 shares in the company, valued at $1,197,820.68. The disclosure for this sale can be found here. 0.80% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of EXC. First Manhattan Co. increased its position in Exelon Corp. by 5.4% in the second quarter. First Manhattan Co. now owns 2,853 shares of the energy giant’s stock valued at $103,000 after buying an additional 147 shares during the period. Hudock Capital Group LLC increased its position in Exelon Corp. by 0.5% in the second quarter. Hudock Capital Group LLC now owns 2,925 shares of the energy giant’s stock valued at $106,000 after buying an additional 14 shares during the period. Advisory Services Network LLC increased its position in Exelon Corp. by 289.7% in the third quarter. Advisory Services Network LLC now owns 3,351 shares of the energy giant’s stock valued at $112,000 after buying an additional 2,491 shares during the period. Cable Hill Partners LLC increased its position in Exelon Corp. by 3.7% in the second quarter. Cable Hill Partners LLC now owns 3,189 shares of the energy giant’s stock valued at $117,000 after buying an additional 114 shares during the period. Finally, Daiwa SB Investments Ltd. acquired a new position in Exelon Corp. during the third quarter valued at $133,000. Institutional investors and hedge funds own 74.90% 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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