Morgan Stanley Increases Exelon Corporation (EXC) Price Target to $40.00
Exelon Corporation (NYSE:EXC) had its target price boosted by stock analysts at Morgan Stanley from $37.00 to $40.00 in a research note issued on Friday. The firm presently has an “equal weight” rating on the energy giant’s stock. Morgan Stanley’s price objective would suggest a potential upside of 4.79% from the company’s previous close.
Several other research firms also recently issued reports on EXC. Barclays PLC reaffirmed an “overweight” rating and set a $44.00 price objective (up from $43.00) on shares of Exelon Corporation in a report on Thursday, August 3rd. BidaskClub raised shares of Exelon Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. KeyCorp reaffirmed a “buy” rating and set a $41.00 price objective on shares of Exelon Corporation in a report on Friday, September 1st. Citigroup Inc. raised shares of Exelon Corporation from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $36.00 to $43.00 in a report on Thursday, July 27th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $41.00 price objective on shares of Exelon Corporation in a report on Monday, July 17th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $40.17.
Shares of Exelon Corporation (EXC) traded up 0.37% during trading on Friday, reaching $38.17. 4,466,711 shares of the company’s stock were exchanged. Exelon Corporation has a 52-week low of $29.82 and a 52-week high of $38.78. The company has a 50 day moving average of $37.94 and a 200 day moving average of $36.36. The firm has a market capitalization of $36.65 billion, a P/E ratio of 20.19 and a beta of 0.28.
Exelon Corporation (NYSE:EXC) last announced its quarterly earnings results on Wednesday, August 2nd. The energy giant reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.02. Exelon Corporation had a net margin of 5.41% and a return on equity of 8.47%. The company had revenue of $7.62 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same quarter in the prior year, the business posted $0.65 EPS. Exelon Corporation’s quarterly revenue was up 10.3% on a year-over-year basis. Equities analysts anticipate that Exelon Corporation will post $2.69 earnings per share for the current fiscal year.
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In other Exelon Corporation news, Chairman Mayo A. Shattuck III sold 465,892 shares of the firm’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $36.52, for a total value of $17,014,375.84. Following the completion of the sale, the chairman now owns 567,649 shares in the company, valued at approximately $20,730,541.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jonathan W. Thayer sold 202,950 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $38.00, for a total transaction of $7,712,100.00. Following the completion of the sale, the chief financial officer now owns 237,181 shares of the company’s stock, valued at approximately $9,012,878. The disclosure for this sale can be found here. Insiders sold a total of 927,844 shares of company stock valued at $34,570,885 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Live Your Vision LLC boosted its stake in shares of Exelon Corporation by 0.9% in the 1st quarter. Live Your Vision LLC now owns 2,951 shares of the energy giant’s stock valued at $106,000 after purchasing an additional 27 shares during the last quarter. Sandy Spring Bank boosted its stake in shares of Exelon Corporation by 10.1% in the 2nd quarter. Sandy Spring Bank now owns 2,963 shares of the energy giant’s stock valued at $107,000 after purchasing an additional 271 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Exelon Corporation by 703.5% in the 1st quarter. Assetmark Inc. now owns 2,981 shares of the energy giant’s stock valued at $107,000 after purchasing an additional 2,610 shares during the last quarter. V Wealth Management LLC bought a new position in shares of Exelon Corporation in the 2nd quarter valued at about $111,000. Finally, Sterling Investment Advisors Ltd. boosted its stake in shares of Exelon Corporation by 1.2% in the 2nd quarter. Sterling Investment Advisors Ltd. now owns 3,145 shares of the energy giant’s stock valued at $113,000 after purchasing an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 76.79% of the company’s stock.
About Exelon Corporation
Exelon Corporation is a utility services holding company. The Company, through its subsidiary, Exelon Generation Company, LLC (Generation), is engaged in the energy generation business. The Company, through its subsidiaries, Commonwealth Edison Company (ComEd), PECO Energy Company (PECO), Baltimore Gas and Electric Company (BGE), Pepco Holdings LLC (PHI), Potomac Electric Power Company (Pepco), Delmarva Power & Light Company (DPL) and Atlantic City Electric Company (ACE), is engaged in the energy delivery businesses.
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