Jefferies Group Reiterates Buy Rating for Exelon Corp. (EXC)
Exelon Corp. (NYSE:EXC)‘s stock had its “buy” rating restated by stock analysts at Jefferies Group in a research report issued on Monday. They currently have a $36.00 target price on the energy giant’s stock. Jefferies Group’s target price would suggest a potential upside of 11.87% from the company’s current price.
EXC has been the topic of several other reports. Barclays PLC cut their target price on shares of Exelon Corp. from $41.00 to $39.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 31st. Citigroup Inc. increased their target price on shares of Exelon Corp. from $27.00 to $29.00 and gave the stock a “sell” rating in a research note on Wednesday, July 20th. Zacks Investment Research lowered shares of Exelon Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 19th. Deutsche Bank AG increased their target price on shares of Exelon Corp. from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, August 11th. Finally, Morgan Stanley set a $38.00 target price on shares of Exelon Corp. and gave the stock a “hold” rating in a research note on Thursday, August 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $36.33.
Exelon Corp. (NYSE:EXC) opened at 32.18 on Monday. The stock’s 50 day moving average is $33.84 and its 200 day moving average is $34.87. Exelon Corp. has a 1-year low of $25.09 and a 1-year high of $37.70. The firm has a market capitalization of $29.70 billion, a price-to-earnings ratio of 21.54 and a beta of 0.25.
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Exelon Corp. (NYSE:EXC) last issued its earnings results on Tuesday, August 9th. The energy giant reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.09. The business had revenue of $6.90 billion for the quarter, compared to analyst estimates of $7.30 billion. Exelon Corp. had a net margin of 4.58% and a return on equity of 8.52%. Exelon Corp.’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 earnings per share. Analysts predict that Exelon Corp. will post $2.55 EPS for the current fiscal year.
In related news, CEO Calvin Butler, Jr. sold 6,403 shares of the firm’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $35.00, for a total transaction of $224,105.00. Following the completion of the sale, the chief executive officer now owns 18,109 shares in the company, valued at $633,815. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kenneth W. Cornew sold 30,000 shares of the firm’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $36.47, for a total transaction of $1,094,100.00. Following the sale, the chief executive officer now owns 32,844 shares of the company’s stock, valued at approximately $1,197,820.68. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its stake in Exelon Corp. by 6.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 17,222,321 shares of the energy giant’s stock worth $626,203,000 after buying an additional 1,070,084 shares during the period. BlackRock Fund Advisors increased its stake in Exelon Corp. by 5.2% in the second quarter. BlackRock Fund Advisors now owns 15,611,169 shares of the energy giant’s stock worth $567,622,000 after buying an additional 777,966 shares during the period. BlackRock Advisors LLC increased its stake in Exelon Corp. by 9.7% in the second quarter. BlackRock Advisors LLC now owns 10,455,121 shares of the energy giant’s stock worth $380,148,000 after buying an additional 924,568 shares during the period. BlackRock Group LTD increased its stake in Exelon Corp. by 2.6% in the second quarter. BlackRock Group LTD now owns 8,845,979 shares of the energy giant’s stock worth $321,639,000 after buying an additional 223,970 shares during the period. Finally, Geode Capital Management LLC increased its stake in Exelon Corp. by 0.7% in the first quarter. Geode Capital Management LLC now owns 8,151,213 shares of the energy giant’s stock worth $291,761,000 after buying an additional 58,544 shares during the period. Institutional investors and hedge funds own 74.90% of the company’s stock.
About Exelon Corp.
Exelon Corporation is a utility services holding company. The Company operates through nine segments consisting of Exelon Generation Company, LLC’s (Generation’s) six power marketing segments, including Mid-Atlantic, Midwest, New England, New York, ERCOT and other regions; Commonwealth Edison Company (ComEd); PECO Energy Company (PECO), and Baltimore Gas and Electric Company (BGE).
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