Barclays upgraded shares of Exelon (NYSE:EXC) from an equal weight rating to an overweight rating in a research note issued to investors on Tuesday, BenzingaRatingsTable reports. The brokerage currently has $52.00 price target on the energy giant’s stock, down from their previous price target of $54.00. The analysts noted that the move was a valuation call.
A number of other research analysts also recently weighed in on EXC. KeyCorp started coverage on Exelon in a report on Tuesday, June 4th. They issued a sector weight rating on the stock. Morgan Stanley increased their target price on Exelon from $53.00 to $55.00 and gave the company an equal weight rating in a report on Friday, June 14th. Goldman Sachs Group raised Exelon from a neutral rating to a buy rating and increased their target price for the company from $48.00 to $52.00 in a report on Thursday, June 6th. Mizuho increased their target price on Exelon from $47.00 to $49.50 and gave the company a neutral rating in a report on Thursday, May 16th. Finally, ValuEngine cut Exelon from a buy rating to a hold rating in a research report on Tuesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $49.82.
EXC stock opened at $45.52 on Tuesday. Exelon has a fifty-two week low of $42.19 and a fifty-two week high of $51.18. The firm has a 50-day moving average price of $47.14. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.77 and a current ratio of 0.90. The company has a market capitalization of $43.92 billion, a P/E ratio of 14.59, a price-to-earnings-growth ratio of 3.77 and a beta of 0.31.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be given a $0.363 dividend. This represents a $1.45 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend is Wednesday, August 14th. Exelon’s payout ratio is 46.47%.
In other Exelon news, CEO Calvin Butler, Jr. sold 31,000 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $47.59, for a total value of $1,475,290.00. Following the completion of the sale, the chief executive officer now owns 40,331 shares in the company, valued at $1,919,352.29. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Kenneth W. Cornew sold 54,300 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $49.82, for a total value of $2,705,226.00. Following the sale, the executive vice president now owns 97,813 shares of the company’s stock, valued at approximately $4,873,043.66. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Exelon by 2.1% during the second quarter. BlackRock Inc. now owns 73,786,054 shares of the energy giant’s stock valued at $3,537,307,000 after buying an additional 1,551,062 shares during the last quarter. AQR Capital Management LLC boosted its stake in Exelon by 37.0% during the first quarter. AQR Capital Management LLC now owns 24,339,629 shares of the energy giant’s stock valued at $1,216,738,000 after buying an additional 6,567,683 shares during the last quarter. Northern Trust Corp boosted its stake in Exelon by 2.0% during the second quarter. Northern Trust Corp now owns 13,239,469 shares of the energy giant’s stock valued at $634,699,000 after buying an additional 255,204 shares during the last quarter. Geode Capital Management LLC boosted its stake in Exelon by 8.4% during the fourth quarter. Geode Capital Management LLC now owns 12,839,080 shares of the energy giant’s stock valued at $578,058,000 after buying an additional 994,381 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in Exelon by 3.3% during the first quarter. Bank of Montreal Can now owns 7,962,924 shares of the energy giant’s stock valued at $399,180,000 after buying an additional 255,364 shares during the last quarter. Hedge funds and other institutional investors own 79.43% of the company’s stock.
Exelon Company Profile
Exelon Corporation, a utility services holding company, engages in energy generation and delivery businesses in the United States and Canada. It owns nuclear, fossil, wind, hydroelectric, and solar generating facilities. The company also sells electricity to wholesale and retail customers; and sells natural gas, renewable energy, and other energy-related products and services.
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