Zacks Investment Research upgraded shares of Exelon (NYSE:EXC) from a hold rating to a buy rating in a report issued on Friday. They currently have $53.00 price target on the energy giant’s stock.
According to Zacks, “In the past 12 months, shares of Exelon Corporation have gained against a decline of the industry it belongs to. Exelon is going to benefit from its $21 billion planned capital investment, focus on zero emission electricity generation and cost savings. The company continues with its hedging program to manage market risks and protect the value of its generation. Strong cash flow generation capacity will help it lower debt levels and increase value of its shareholders. However, Exelon is subject to the impact of commodity price volatility and price fluctuation in the wholesale markets. Stringent government regulation is also a cause of concern.”
Other equities research analysts have also recently issued research reports about the stock. Macquarie upped their price objective on shares of Exelon from $45.00 to $46.00 and gave the stock a buy rating in a report on Monday, September 24th. ValuEngine upgraded shares of Exelon from a hold rating to a buy rating in a research note on Wednesday, October 24th. Royal Bank of Canada reiterated a buy rating and issued a $46.00 target price on shares of Exelon in a research note on Wednesday, November 7th. Morgan Stanley dropped their target price on shares of Exelon from $48.00 to $47.00 and set an equal weight rating on the stock in a research note on Wednesday, September 26th. Finally, SunTrust Banks reiterated a hold rating and issued a $45.00 target price on shares of Exelon in a research note on Monday, September 24th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Exelon has an average rating of Buy and an average price target of $46.44.
EXC traded up $0.06 during midday trading on Friday, reaching $46.96. The company’s stock had a trading volume of 4,611,791 shares, compared to its average volume of 5,073,214. The stock has a market cap of $45.35 billion, a PE ratio of 18.06, a price-to-earnings-growth ratio of 3.29 and a beta of 0.30. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.16 and a current ratio of 1.33. Exelon has a 1 year low of $35.57 and a 1 year high of $47.40.
Exelon (NYSE:EXC) last announced its quarterly earnings data on Thursday, November 1st. The energy giant reported $0.88 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.88. The business had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $8.74 billion. Exelon had a net margin of 10.67% and a return on equity of 9.35%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.85 earnings per share. Equities research analysts predict that Exelon will post 3.12 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Thursday, November 15th will be given a dividend of $0.345 per share. The ex-dividend date is Wednesday, November 14th. This represents a $1.38 dividend on an annualized basis and a yield of 2.94%. Exelon’s dividend payout ratio (DPR) is 53.08%.
A number of institutional investors have recently modified their holdings of EXC. Man Group plc lifted its position in Exelon by 242.7% during the third quarter. Man Group plc now owns 6,102,652 shares of the energy giant’s stock valued at $266,442,000 after purchasing an additional 4,322,046 shares during the period. Capital International Investors lifted its position in Exelon by 29.8% during the third quarter. Capital International Investors now owns 11,113,684 shares of the energy giant’s stock valued at $485,223,000 after purchasing an additional 2,550,676 shares during the period. Panagora Asset Management Inc. lifted its position in Exelon by 81.6% during the third quarter. Panagora Asset Management Inc. now owns 4,032,339 shares of the energy giant’s stock valued at $176,052,000 after purchasing an additional 1,811,983 shares during the period. State Treasurer State of Michigan lifted its position in Exelon by 71.6% during the second quarter. State Treasurer State of Michigan now owns 4,185,797 shares of the energy giant’s stock valued at $178,315,000 after purchasing an additional 1,746,700 shares during the period. Finally, Zimmer Partners LP bought a new position in Exelon in the third quarter worth approximately $69,507,000. Institutional investors own 78.77% of the company’s stock.
Exelon Corporation, a utility services holding company, engages in energy generation and delivery businesses in the United States and Canada. The company owns electric generating facilities, such as nuclear, fossil, wind, hydroelectric, and solar generating facilities. It 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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