Zacks Investment Research upgraded shares of Exelon (NYSE:EXC) from a hold rating to a buy rating in a research report released on Friday morning. The brokerage currently has $53.00 target price 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.”
Several other equities analysts have also recently weighed in on EXC. KeyCorp raised their target price on shares of Exelon from $43.00 to $46.00 and gave the company an overweight rating in a research note on Friday, August 17th. SunTrust Banks cut shares of Exelon from a buy rating to a hold rating and set a $33.00 target price for the company. in a research note on Tuesday, September 11th. They noted that the move was a valuation call. Morgan Stanley raised their target price on shares of Exelon from $43.00 to $46.00 and gave the company a hold rating in a research note on Tuesday, September 11th. Wells Fargo & Co raised their target price on shares of Exelon from $44.00 to $46.00 and gave the company a market perform rating in a research note on Monday, September 17th. Finally, Macquarie raised their target price on shares of Exelon from $45.00 to $46.00 and gave the company a buy rating in a research note on Monday, September 24th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $46.44.
Shares of NYSE EXC traded up $0.06 during midday trading on Friday, reaching $46.96. The 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. Exelon has a 12-month low of $35.57 and a 12-month high of $47.40. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.33 and a quick ratio of 1.16.
Exelon (NYSE:EXC) last posted its earnings results on Thursday, November 1st. The energy giant reported $0.88 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.88. The company had revenue of $8.08 billion during 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%. Exelon’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the company posted $0.85 earnings per share. On average, research analysts expect that Exelon will post 3.12 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders 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 annualized dividend and a yield of 2.94%. Exelon’s dividend payout ratio (DPR) is currently 53.08%.
A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Exelon by 1.7% during the third quarter. Vanguard Group Inc. now owns 77,314,222 shares of the energy giant’s stock valued at $3,375,540,000 after purchasing an additional 1,309,965 shares during the last quarter. BlackRock Inc. lifted its position in Exelon by 1.0% during the second quarter. BlackRock Inc. now owns 71,949,812 shares of the energy giant’s stock valued at $3,065,064,000 after purchasing an additional 721,483 shares during the last quarter. LSV Asset Management lifted its position in Exelon by 4.4% during the third quarter. LSV Asset Management now owns 13,166,582 shares of the energy giant’s stock valued at $574,852,000 after purchasing an additional 560,338 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Exelon by 6.2% during the third quarter. Bank of New York Mellon Corp now owns 11,849,193 shares of the energy giant’s stock valued at $517,335,000 after purchasing an additional 689,774 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Exelon by 3.2% during the second quarter. Northern Trust Corp now owns 11,544,424 shares of the energy giant’s stock valued at $491,793,000 after purchasing an additional 359,605 shares during the last quarter. Institutional investors and hedge funds own 78.77% of the company’s stock.
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.
Further Reading: Analyst Ratings
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