Exelon (NASDAQ:EXC) Price Target Cut to $37.00 by Analysts at Scotiabank

Exelon (NASDAQ:EXC) had its price target lowered by equities researchers at Scotiabank from $39.00 to $37.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price target indicates a potential downside of 2.17% from the stock’s current price.

Several other analysts also recently issued reports on the company. Seaport Res Ptn downgraded Exelon from a “buy” rating to a “neutral” rating in a research note on Monday, January 8th. TheStreet downgraded Exelon from a “b-” rating to a “c+” rating in a report on Wednesday, February 7th. UBS Group cut shares of Exelon from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $47.00 to $37.00 in a research note on Tuesday, January 2nd. StockNews.com raised shares of Exelon from a “sell” rating to a “hold” rating in a report on Monday, March 25th. Finally, Wells Fargo & Company dropped their target price on shares of Exelon from $41.00 to $39.00 and set an “equal weight” rating on the stock in a report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Exelon presently has an average rating of “Hold” and a consensus price target of $38.92.

Exelon Stock Up 0.7 %

Shares of NASDAQ:EXC traded up $0.27 during trading on Monday, reaching $37.82. 2,713,898 shares of the company traded hands, compared to its average volume of 6,641,348. The firm has a market cap of $37.80 billion, a P/E ratio of 16.20, a price-to-earnings-growth ratio of 2.74 and a beta of 0.54. Exelon has a 1-year low of $33.35 and a 1-year high of $43.71. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.56. The firm has a fifty day simple moving average of $36.43 and a 200 day simple moving average of $37.10.

Exelon (NASDAQ:EXC) last posted its earnings results on Wednesday, February 21st. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. The company had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $3.87 billion. Exelon had a net margin of 10.72% and a return on equity of 9.40%. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.43 earnings per share. Analysts anticipate that Exelon will post 2.41 earnings per share for the current fiscal year.

Institutional Trading of Exelon

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James & Associates boosted its holdings in Exelon by 10.3% during the first quarter. Raymond James & Associates now owns 511,681 shares of the company’s stock valued at $19,224,000 after purchasing an additional 47,617 shares in the last quarter. IFM Investors Pty Ltd lifted its position in shares of Exelon by 0.5% during the 1st quarter. IFM Investors Pty Ltd now owns 334,931 shares of the company’s stock worth $12,583,000 after buying an additional 1,603 shares during the period. Maryland State Retirement & Pension System boosted its stake in Exelon by 1.5% in the 1st quarter. Maryland State Retirement & Pension System now owns 927,860 shares of the company’s stock valued at $33,542,000 after buying an additional 13,351 shares in the last quarter. First Trust Direct Indexing L.P. grew its position in Exelon by 14.4% in the first quarter. First Trust Direct Indexing L.P. now owns 31,173 shares of the company’s stock valued at $1,171,000 after acquiring an additional 3,931 shares during the period. Finally, Abundance Wealth Counselors raised its stake in Exelon by 10.9% during the first quarter. Abundance Wealth Counselors now owns 20,880 shares of the company’s stock worth $784,000 after acquiring an additional 2,050 shares in the last quarter. Institutional investors own 80.92% of the company’s stock.

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.