Driehaus Capital Management LLC purchased a new stake in shares of Exelon Co. (NYSE:EXC) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 12,160 shares of the energy giant’s stock, valued at approximately $479,000.
Several other hedge funds have also recently modified their holdings of EXC. Bank of Nova Scotia Trust Co. bought a new stake in Exelon during the third quarter worth approximately $102,000. NuWave Investment Management LLC purchased a new position in shares of Exelon during the fourth quarter valued at approximately $105,000. Delpha Capital Management LLC purchased a new position in shares of Exelon during the fourth quarter valued at approximately $108,000. Baker Ellis Asset Management LLC purchased a new position in shares of Exelon during the fourth quarter valued at approximately $118,000. Finally, Cerebellum GP LLC purchased a new position in shares of Exelon during the fourth quarter valued at approximately $122,000. 78.09% of the stock is currently owned by hedge funds and other institutional investors.
EXC has been the subject of a number of research reports. Credit Suisse Group lowered Exelon to a “hold” rating and set a $42.00 price target for the company. in a report on Wednesday. Goldman Sachs upgraded Exelon from a “sell” rating to a “neutral” rating and boosted their price target for the company from $33.30 to $43.00 in a report on Wednesday, March 28th. JPMorgan Chase lowered their price target on Exelon from $42.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, February 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $43.00 price target on shares of Exelon in a report on Wednesday, February 14th. Finally, Zacks Investment Research raised shares of Exelon from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Friday, February 9th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $41.41.
In other news, CEO Calvin Butler, Jr. sold 25,000 shares of the stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $37.94, for a total transaction of $948,500.00. Following the sale, the chief executive officer now directly owns 19,429 shares of the company’s stock, valued at approximately $737,136.26. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.70% of the company’s stock.
Shares of NYSE EXC traded down $0.37 during mid-day trading on Friday, hitting $38.63. The stock had a trading volume of 3,475,592 shares, compared to its average volume of 6,226,389. Exelon Co. has a twelve month low of $33.30 and a twelve month high of $42.67. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.10 and a quick ratio of 0.94. The company has a market cap of $37,636.14, a price-to-earnings ratio of 14.86, a PEG ratio of 2.54 and a beta of 0.16.
Exelon (NYSE:EXC) last posted its quarterly earnings results on Wednesday, February 7th. The energy giant reported $0.55 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.05). Exelon had a net margin of 11.53% and a return on equity of 8.35%. The business had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $7.66 billion. During the same period in the previous year, the company posted $0.44 earnings per share. Exelon’s revenue for the quarter was up 6.4% compared to the same quarter last year. research analysts expect that Exelon Co. will post 3.06 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Thursday, February 15th were paid a dividend of $0.345 per share. This is a positive change from Exelon’s previous quarterly dividend of $0.33. This represents a $1.38 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend was Wednesday, February 14th. Exelon’s dividend payout ratio is presently 53.08%.
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Exelon Company Profile
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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