MAI Capital Management boosted its stake in Exelon Co. (NYSE:EXC) by 2.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,365 shares of the energy giant’s stock after acquiring an additional 1,211 shares during the period. MAI Capital Management’s holdings in Exelon were worth $2,374,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. First Bank & Trust purchased a new stake in shares of Exelon in the first quarter valued at about $25,000. Csenge Advisory Group purchased a new stake in shares of Exelon in the third quarter valued at about $26,000. Moody National Bank Trust Division purchased a new stake in shares of Exelon in the fourth quarter valued at about $26,000. Braun Bostich & Associates Inc. raised its holdings in shares of Exelon by 51.7% in the fourth quarter. Braun Bostich & Associates Inc. now owns 613 shares of the energy giant’s stock valued at $28,000 after buying an additional 209 shares during the last quarter. Finally, Capital Financial Planning LLC purchased a new stake in shares of Exelon in the fourth quarter valued at about $29,000. 80.23% of the stock is owned by hedge funds and other institutional investors.
NYSE EXC traded up $0.34 during trading hours on Wednesday, hitting $49.27. 4,696,600 shares of the stock were exchanged, compared to its average volume of 5,306,729. The stock has a market capitalization of $47.39 billion, a P/E ratio of 15.79, a P/E/G ratio of 4.14 and a beta of 0.37. Exelon Co. has a 12-month low of $39.63 and a 12-month high of $51.03. The company has a quick ratio of 0.89, a current ratio of 1.02 and a debt-to-equity ratio of 0.99.
Exelon (NYSE:EXC) last posted its quarterly earnings results on Thursday, May 2nd. The energy giant reported $0.87 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.87. Exelon had a net margin of 6.52% and a return on equity of 8.85%. The firm had revenue of $9.48 billion during the quarter, compared to analysts’ expectations of $9.10 billion. During the same period in the prior year, the company posted $0.96 earnings per share. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, equities research analysts expect that Exelon Co. will post 3.13 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.3625 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.45 annualized dividend and a yield of 2.94%. Exelon’s payout ratio is currently 46.47%.
In other Exelon news, EVP Joseph Nigro sold 53,800 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $49.59, for a total transaction of $2,667,942.00. Following the transaction, the executive vice president now directly owns 99,574 shares in the company, valued at $4,937,874.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Paymon Aliabadi sold 17,500 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $48.36, for a total transaction of $846,300.00. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company’s stock.
A number of brokerages have recently commented on EXC. Goldman Sachs Group raised shares of Exelon from a “sell” rating to a “neutral” rating and upped their target price for the company from $43.00 to $47.00 in a report on Tuesday, April 9th. Wells Fargo & Co raised shares of Exelon from a “market perform” rating to an “outperform” rating and upped their target price for the company from $50.00 to $57.00 in a report on Tuesday, April 2nd. Mizuho upped their target price on shares of Exelon from $47.00 to $49.50 and gave the company a “neutral” rating in a report on Thursday, May 16th. Morgan Stanley upped their target price on shares of Exelon from $52.00 to $53.00 and gave the company an “equal weight” rating in a report on Thursday, May 16th. Finally, Scotiabank reaffirmed a “buy” rating and issued a $50.00 target price on shares of Exelon in a report on Wednesday, February 13th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Exelon has a consensus rating of “Buy” and a consensus price target of $48.97.
Exelon Corporation, a utility services holding company, engages in energy generation and delivery businesses in the United States and Canada. It owns nuclear, fossil, wind, hydroelectric, and solar generating facilities. The company also sells electricity to wholesale and retail customers; and sells natural gas, renewable energy, and other energy-related products and services.
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