Magellan Asset Management Ltd Acquires 31,952 Shares of Exelon Corporation $EXC

Magellan Asset Management Ltd increased its stake in shares of Exelon Corporation (NASDAQ:EXC) by 4.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 759,137 shares of the company’s stock after buying an additional 31,952 shares during the period. Magellan Asset Management Ltd’s holdings in Exelon were worth $32,962,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Nuveen LLC acquired a new position in Exelon in the first quarter valued at about $285,428,000. ATLAS Infrastructure Partners UK Ltd. increased its stake in Exelon by 192.7% during the 1st quarter. ATLAS Infrastructure Partners UK Ltd. now owns 5,795,566 shares of the company’s stock worth $267,060,000 after purchasing an additional 3,815,722 shares in the last quarter. AQR Capital Management LLC raised its holdings in Exelon by 506.9% during the 1st quarter. AQR Capital Management LLC now owns 3,117,668 shares of the company’s stock worth $143,163,000 after buying an additional 2,603,959 shares during the period. Electron Capital Partners LLC bought a new position in Exelon in the first quarter valued at approximately $117,274,000. Finally, GQG Partners LLC acquired a new position in shares of Exelon in the first quarter valued at approximately $112,832,000. Institutional investors and hedge funds own 80.92% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on EXC shares. TD Cowen initiated coverage on Exelon in a report on Thursday, October 16th. They issued a “hold” rating and a $49.00 price target on the stock. Evercore ISI assumed coverage on Exelon in a research note on Monday, October 6th. They issued an “outperform” rating and a $57.00 target price on the stock. Jefferies Financial Group set a $57.00 price target on Exelon in a research report on Wednesday, October 15th. UBS Group lifted their price objective on shares of Exelon from $48.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, October 10th. Finally, BTIG Research assumed coverage on shares of Exelon in a research report on Tuesday, October 21st. They issued a “neutral” rating on the stock. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $50.55.

Exelon Trading Up 1.1%

Shares of Exelon stock opened at $46.21 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.95 and a quick ratio of 0.85. The business has a fifty day simple moving average of $45.41 and a two-hundred day simple moving average of $44.54. Exelon Corporation has a 1 year low of $35.94 and a 1 year high of $48.51. The company has a market capitalization of $46.67 billion, a price-to-earnings ratio of 17.57, a P/E/G ratio of 2.93 and a beta of 0.44.

Exelon (NASDAQ:EXC) last announced its earnings results on Tuesday, November 4th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.69 by $0.17. The business had revenue of $6.71 billion during the quarter, compared to the consensus estimate of $6.40 billion. Exelon had a net margin of 11.16% and a return on equity of 9.85%. Exelon has set its FY 2025 guidance at 2.640-2.740 EPS. Research analysts forecast that Exelon Corporation will post 2.64 EPS for the current year.

Exelon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, November 10th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Monday, November 10th. Exelon’s dividend payout ratio (DPR) is presently 57.35%.

Exelon Company Profile

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.