Van ECK Associates Corp increased its holdings in Exelon Corporation (NASDAQ:EXC – Free Report) by 6.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 436,660 shares of the company’s stock after purchasing an additional 24,542 shares during the period. Van ECK Associates Corp’s holdings in Exelon were worth $20,357,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Motiv8 Investments LLC bought a new stake in shares of Exelon in the 4th quarter worth about $25,000. Leonteq Securities AG bought a new position in shares of Exelon in the 4th quarter valued at about $26,000. Bell Investment Advisors Inc grew its position in Exelon by 113.4% in the first quarter. Bell Investment Advisors Inc now owns 540 shares of the company’s stock worth $26,000 after acquiring an additional 287 shares in the last quarter. SHP Wealth Management purchased a new position in Exelon in the fourth quarter worth about $26,000. Finally, Eastern Bank bought a new stake in Exelon during the second quarter worth approximately $26,000. Hedge funds and other institutional investors own 80.92% of the company’s stock.
Exelon Price Performance
Shares of EXC stock opened at $43.93 on Monday. Exelon Corporation has a 52-week low of $42.58 and a 52-week high of $50.65. The firm has a market capitalization of $45.35 billion, a P/E ratio of 16.09, a P/E/G ratio of 2.66 and a beta of 0.31. The stock has a 50 day moving average price of $46.08 and a 200 day moving average price of $46.71. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.99 and a current ratio of 1.09.
Exelon Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, September 4th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Friday, September 4th. Exelon’s dividend payout ratio is currently 61.54%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the company. TD Cowen decreased their price objective on Exelon from $51.00 to $49.00 and set a “hold” rating on the stock in a research report on Friday, May 15th. KeyCorp cut their target price on Exelon from $43.00 to $41.00 and set an “underweight” rating on the stock in a research report on Wednesday, May 13th. Weiss Ratings lowered Exelon from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 9th. Truist Financial lowered their price target on Exelon from $50.00 to $48.00 and set a “hold” rating for the company in a research report on Thursday, August 13th. Finally, Morgan Stanley dropped their price objective on shares of Exelon from $55.00 to $53.00 and set an “equal weight” rating for the company in a research note on Friday, August 21st. Four investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Exelon has a consensus rating of “Hold” and an average price target of $50.07.
About Exelon
Exelon Corporation (NASDAQ: EXC) is a Chicago-based energy company that operates primarily as a regulated electric and natural gas utility holding company. The company’s businesses focus on the delivery of electricity and related services to residential, commercial and industrial customers, as well as investments in grid modernization, customer energy solutions and demand-side programs. Exelon’s operations emphasize reliable service delivery, infrastructure maintenance and regulatory compliance across its utility footprint.
Formed in 2000 through the merger of Unicom and PECO Energy, Exelon historically combined generation and regulated utility businesses.
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