Exelon Corporation Declares Quarterly Dividend of $0.40 (NASDAQ:EXC)

Exelon Corporation (NASDAQ:EXC) announced a quarterly dividend on Tuesday, July 29th, RTT News reports. Investors of record on Monday, August 11th will be paid a dividend of 0.40 per share on Monday, September 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend is Monday, August 11th.

Exelon has a payout ratio of 56.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Exelon to earn $2.78 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 57.6%.

Exelon Price Performance

Shares of NASDAQ EXC opened at $44.26 on Thursday. Exelon has a fifty-two week low of $35.94 and a fifty-two week high of $48.11. The firm’s 50-day simple moving average is $43.24 and its 200 day simple moving average is $43.47. The company has a quick ratio of 0.98, a current ratio of 1.09 and a debt-to-equity ratio of 1.66. The stock has a market cap of $44.68 billion, a P/E ratio of 16.45, a P/E/G ratio of 2.60 and a beta of 0.39.

Exelon (NASDAQ:EXC) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.06. Exelon had a net margin of 11.44% and a return on equity of 10.29%. The business had revenue of $6.71 billion for the quarter, compared to analysts’ expectations of $6.30 billion. During the same period in the previous year, the business earned $0.68 earnings per share. The company’s revenue was up 11.1% on a year-over-year basis. Equities analysts expect that Exelon will post 2.64 EPS for the current year.

Institutional Trading of Exelon

A hedge fund recently raised its stake in Exelon stock. Woodline Partners LP lifted its holdings in Exelon Corporation (NASDAQ:EXC) by 40.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,925 shares of the company’s stock after buying an additional 24,580 shares during the period. Woodline Partners LP’s holdings in Exelon were worth $3,913,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 80.92% of the company’s stock.

Analyst Ratings Changes

EXC has been the subject of several research reports. UBS Group reaffirmed a “neutral” rating and set a $48.00 target price (up previously from $47.00) on shares of Exelon in a research note on Friday, July 11th. Guggenheim raised their target price on Exelon from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. KeyCorp decreased their target price on Exelon from $39.00 to $37.00 and set an “underweight” rating for the company in a research note on Wednesday, July 16th. BMO Capital Markets raised their target price on Exelon from $46.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. Finally, Morgan Stanley cut their target price on Exelon from $49.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Exelon presently has an average rating of “Hold” and a consensus target price of $47.20.

About Exelon

Exelon Corporation, a utility services holding company, engages in the energy distribution and transmission businesses in the United States and Canada. The company is involved in the purchase and regulated retail sale of electricity and natural gas, transmission and distribution of electricity, and distribution of natural gas to retail customers.