Ethic Inc. increased its position in shares of Exelon Corporation (NASDAQ:EXC – Free Report) by 4.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 405,640 shares of the company’s stock after acquiring an additional 18,172 shares during the quarter. Ethic Inc.’s holdings in Exelon were worth $16,388,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of EXC. GRIMES & Co WEALTH MANAGEMENT LLC increased its stake in Exelon by 3.6% in the third quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 6,567 shares of the company’s stock valued at $265,000 after purchasing an additional 226 shares in the last quarter. Tidal Investments LLC raised its holdings in Exelon by 0.3% in the second quarter. Tidal Investments LLC now owns 70,360 shares of the company’s stock worth $3,280,000 after purchasing an additional 243 shares during the period. CX Institutional boosted its position in shares of Exelon by 3.3% during the second quarter. CX Institutional now owns 7,684 shares of the company’s stock worth $358,000 after purchasing an additional 247 shares in the last quarter. Quest 10 Wealth Builders Inc. boosted its position in shares of Exelon by 23.8% during the third quarter. Quest 10 Wealth Builders Inc. now owns 1,341 shares of the company’s stock worth $54,000 after purchasing an additional 258 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in shares of Exelon by 3.5% during the second quarter. Versant Capital Management Inc now owns 8,385 shares of the company’s stock worth $391,000 after purchasing an additional 284 shares in the last quarter. Institutional investors and hedge funds own 80.92% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have recently issued reports on EXC. Weiss Ratings reissued a “buy (b-)” rating on shares of Exelon in a report on Tuesday, October 6th. Scotiabank dropped their price objective on Exelon from $47.00 to $44.00 and set a “sector perform” rating on the stock in a research note on Wednesday, September 30th. Barclays reduced their target price on Exelon from $49.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, October 19th. HSBC started coverage on Exelon in a report on Thursday, October 22nd. They set a “hold” rating and a $44.00 target price on the stock. Finally, JPMorgan Chase & Co. decreased their target price on Exelon from $47.00 to $46.00 and set a “neutral” rating for the company in a research note on Monday, October 19th. Five investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $48.33.
Read Our Latest Stock Analysis on Exelon
Exelon Stock Performance
Shares of EXC stock opened at $45.62 on Friday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.93 and a current ratio of 1.03. Exelon Corporation has a 52 week low of $39.73 and a 52 week high of $50.65. The company’s 50 day moving average price is $43.04 and its two-hundred day moving average price is $45.62. The company has a market capitalization of $47.21 billion, a P/E ratio of 17.75, a price-to-earnings-growth ratio of 2.49 and a beta of 0.24.
Exelon (NASDAQ:EXC – Get Free Report) last released its quarterly earnings results on Friday, October 30th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.08. Exelon had a net margin of 10.17% and a return on equity of 9.75%. The company had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $6.76 billion. During the same quarter in the prior year, the company earned $0.86 earnings per share. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, analysts expect that Exelon Corporation will post 2.87 earnings per share for the current fiscal year.
Exelon Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Friday, December 4th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, December 4th. Exelon’s payout ratio is currently 65.37%.
Exelon Profile
Exelon is a regulated energy delivery company that operates electric and natural gas utilities. Its businesses deliver energy to homes and businesses, maintain utility infrastructure, and provide related customer services.
The company serves customers in Illinois, Pennsylvania, Maryland, Delaware, New Jersey, and the District of Columbia through utilities including ComEd, PECO, BGE, Pepco, Delmarva Power, and Atlantic City Electric. Exelon was formed in 2000 through the merger of PECO Energy and Unicom, then the parent of Commonwealth Edison.
Exelon separated its competitive power generation business, now known as Constellation Energy, in 2022.
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