SunTrust Banks, Inc. Reaffirms Buy Rating for Exelon Corporation (EXC)
Exelon Corporation (NYSE:EXC)‘s stock had its “buy” rating reissued by SunTrust Banks, Inc. in a research report issued to clients and investors on Thursday. They presently have a $41.00 price target on the energy giant’s stock. SunTrust Banks, Inc.’s target price points to a potential upside of 5.29% from the company’s previous close.
Several other research analysts have also recently weighed in on EXC. J P Morgan Chase & Co boosted their price target on shares of Exelon Corporation from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Thursday. ValuEngine upgraded shares of Exelon Corporation from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Zacks Investment Research cut shares of Exelon Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday. Barclays PLC reiterated an “overweight” rating and issued a $44.00 target price (up from $43.00) on shares of Exelon Corporation in a research note on Wednesday, August 9th. Finally, KeyCorp reiterated a “buy” rating and issued a $41.00 target price on shares of Exelon Corporation in a research note on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $40.23.
Shares of Exelon Corporation (NYSE:EXC) traded up 1.25% during midday trading on Thursday, hitting $38.94. 4,733,762 shares of the stock were exchanged. The firm’s 50 day moving average is $37.84 and its 200-day moving average is $36.65. The stock has a market capitalization of $37.39 billion, a price-to-earnings ratio of 20.59 and a beta of 0.29. Exelon Corporation has a 1-year low of $29.82 and a 1-year high of $38.95.
Exelon Corporation (NYSE:EXC) last released its quarterly earnings results on Wednesday, August 2nd. The energy giant reported $0.54 earnings per share for the quarter, topping the 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 business had revenue of $7.62 billion for the quarter, compared to analysts’ expectations of $7.88 billion. During the same period in the previous year, the company earned $0.65 earnings per share. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, analysts predict that Exelon Corporation will post $2.69 EPS for the current year.
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In other news, insider Denis P. O’brien sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $38.50, for a total value of $1,155,000.00. Following the sale, the insider now owns 57,243 shares of the company’s stock, valued at $2,203,855.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Paymon Aliabadi sold 13,333 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $38.31, for a total transaction of $510,787.23. Following the sale, the executive vice president now directly owns 39,769 shares in the company, valued at approximately $1,523,550.39. The disclosure for this sale can be found here. In the last three months, insiders sold 486,952 shares of company stock worth $18,509,309. Insiders own 0.70% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Crow Point Partners LLC increased its holdings in Exelon Corporation by 454.5% during the 3rd quarter. Crow Point Partners LLC now owns 366,000 shares of the energy giant’s stock worth $13,688,000 after acquiring an additional 300,000 shares during the period. Eqis Capital Management Inc. increased its holdings in Exelon Corporation by 10.3% during the 3rd quarter. Eqis Capital Management Inc. now owns 35,915 shares of the energy giant’s stock worth $1,353,000 after acquiring an additional 3,364 shares during the period. MPS Loria Financial Planners LLC bought a new stake in Exelon Corporation during the 2nd quarter worth approximately $167,000. Intl Fcstone Inc. bought a new stake in Exelon Corporation during the 2nd quarter worth approximately $572,000. Finally, Griffin Asset Management Inc. bought a new stake in Exelon Corporation during the 2nd quarter worth approximately $837,000. 76.78% of the stock is currently owned by institutional investors and hedge funds.
Exelon Corporation Company Profile
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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