Exelon Corporation (EXC) Now Covered by Bank of America Corporation
Bank of America Corporation initiated coverage on shares of Exelon Corporation (NYSE:EXC) in a research note issued to investors on Tuesday. The firm set a “buy” rating and a $43.00 price target on the energy giant’s stock. Bank of America Corporation’s price objective would indicate a potential upside of 8.20% from the company’s current price.
Other equities analysts also recently issued reports about the company. KeyCorp restated a “buy” rating and set a $41.00 price objective on shares of Exelon Corporation in a research report on Friday, September 1st. BidaskClub upgraded Exelon Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Citigroup Inc. upgraded Exelon Corporation from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $36.00 to $43.00 in a research report on Thursday, July 27th. Deutsche Bank AG restated a “buy” rating and set a $41.00 price objective on shares of Exelon Corporation in a research report on Monday, July 17th. Finally, ValuEngine upgraded Exelon Corporation from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $40.43.
Exelon Corporation (NYSE EXC) traded up 0.35% during trading on Tuesday, hitting $39.88. The stock had a trading volume of 1,984,285 shares. The company has a 50-day moving average of $38.16 and a 200 day moving average of $36.86. Exelon Corporation has a 52 week low of $29.82 and a 52 week high of $39.90. The company has a market cap of $38.29 billion, a price-to-earnings ratio of 21.09 and a beta of 0.29.
Exelon Corporation (NYSE:EXC) last issued its quarterly earnings data on Wednesday, August 2nd. The energy giant reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.02. Exelon Corporation had a return on equity of 8.47% and a net margin of 5.41%. The company had revenue of $7.62 billion during the quarter, compared to the consensus estimate of $7.88 billion. During the same period last year, the company earned $0.65 earnings per share. The firm’s revenue was up 10.3% compared to the same quarter last year. On average, equities research analysts anticipate that Exelon Corporation will post $2.69 EPS for the current year.
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In other Exelon Corporation news, insider Denis P. O’brien sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $38.50, for a total value of $1,155,000.00. Following the completion of the sale, the insider now owns 57,243 shares of the company’s stock, valued at $2,203,855.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Paymon Aliabadi sold 13,333 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $38.31, for a total value of $510,787.23. Following the completion of the sale, the executive vice president now directly owns 39,769 shares of the company’s stock, valued at approximately $1,523,550.39. The disclosure for this sale can be found here. Insiders sold 486,952 shares of company stock valued at $18,509,309 in the last three months. Insiders own 0.70% of the company’s stock.
A number of institutional investors have recently made changes to their positions in EXC. Teachers Advisors LLC grew its stake in Exelon Corporation by 3.6% in the first quarter. Teachers Advisors LLC now owns 1,793,218 shares of the energy giant’s stock valued at $64,520,000 after acquiring an additional 61,508 shares during the period. Cleararc Capital Inc. grew its stake in Exelon Corporation by 1.1% in the first quarter. Cleararc Capital Inc. now owns 22,678 shares of the energy giant’s stock valued at $816,000 after acquiring an additional 254 shares during the period. Balentine LLC grew its stake in Exelon Corporation by 3.2% in the first quarter. Balentine LLC now owns 6,503 shares of the energy giant’s stock valued at $234,000 after acquiring an additional 200 shares during the period. Global X Management Co. LLC grew its stake in Exelon Corporation by 17.6% in the first quarter. Global X Management Co. LLC now owns 14,099 shares of the energy giant’s stock valued at $507,000 after acquiring an additional 2,108 shares during the period. Finally, Guardian Life Insurance Co. of America grew its stake in Exelon Corporation by 1.2% in the first quarter. Guardian Life Insurance Co. of America now owns 3,579 shares of the energy giant’s stock valued at $129,000 after acquiring an additional 42 shares during the period. 77.16% of the stock is owned by hedge funds and other institutional investors.
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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