Exelon (EXC) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research cut shares of Exelon (NYSE:EXC) from a buy rating to a hold rating in a research report released on Wednesday morning.

According to Zacks, “In the past 12 months, shares of Exelon Corporation have outperformed its 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.”

A number of other analysts also recently commented on the company. Wells Fargo & Co raised their price objective on Exelon from $44.00 to $46.00 and gave the stock a market perform rating in a research report on Monday, September 17th. Morgan Stanley raised their target price on Exelon from $43.00 to $46.00 and gave the stock a hold rating in a research report on Tuesday, September 11th. Macquarie raised their target price on Exelon from $45.00 to $46.00 and gave the stock a buy rating in a research report on Monday, September 24th. ValuEngine upgraded Exelon from a hold rating to a buy rating in a research report on Wednesday, October 24th. Finally, JPMorgan Chase & Co. downgraded Exelon from an overweight rating to a neutral rating and set a $48.00 target price for the company. in a research report on Tuesday, October 9th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $46.44.

Shares of EXC stock opened at $47.06 on Wednesday. The company has a quick ratio of 1.16, a current ratio of 1.33 and a debt-to-equity ratio of 1.05. Exelon has a 12 month low of $35.57 and a 12 month high of $47.40. The company has a market capitalization of $45.51 billion, a price-to-earnings ratio of 18.10, a PEG ratio of 3.30 and a beta of 0.30.

Exelon (NYSE:EXC) last announced its quarterly earnings data on Thursday, November 1st. The energy giant reported $0.88 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.88. Exelon had a return on equity of 9.35% and a net margin of 10.67%. The company had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $8.74 billion. During the same quarter last year, the company earned $0.85 EPS. The company’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities research analysts forecast that Exelon will post 3.12 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, December 10th. Investors of record on Thursday, November 15th were given a dividend of $0.345 per share. The ex-dividend date of this dividend was Wednesday, November 14th. This represents a $1.38 annualized dividend and a dividend yield of 2.93%. Exelon’s dividend payout ratio (DPR) is presently 53.08%.

A number of hedge funds have recently added to or reduced their stakes in EXC. Man Group plc increased its holdings in Exelon by 242.7% during the 3rd 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 in the last quarter. Capital International Investors increased its holdings in Exelon by 29.8% during the 3rd 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 in the last quarter. Panagora Asset Management Inc. increased its holdings in Exelon by 81.6% during the 3rd 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 in the last quarter. State Treasurer State of Michigan increased its holdings in Exelon by 71.6% during the 2nd 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 in the last quarter. Finally, Zimmer Partners LP acquired a new stake in Exelon during the 3rd quarter valued at $69,507,000. 78.65% of the stock is owned by hedge funds and other institutional investors.

Exelon Company Profile

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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