Morgan Stanley Increases Exelon (EXC) Price Target to $43.00
Exelon (NYSE:EXC) had its target price hoisted by investment analysts at Morgan Stanley from $42.00 to $43.00 in a report issued on Wednesday. The firm currently has an “equal weight” rating on the energy giant’s stock. Morgan Stanley’s target price would indicate a potential upside of 4.19% from the stock’s previous close.
Several other analysts also recently weighed in on the company. Royal Bank of Canada restated a “buy” rating and set a $43.00 price objective on shares of Exelon in a research report on Tuesday, November 7th. Bank of America started coverage on Exelon in a research report on Tuesday, October 24th. They issued a “buy” rating and a $43.00 target price for the company. Zacks Investment Research upgraded Exelon from a “sell” rating to a “hold” rating in a research report on Friday, October 20th. SunTrust Banks reiterated a “buy” rating and issued a $41.00 target price on shares of Exelon in a research report on Thursday, October 12th. Finally, J P Morgan Chase & Co increased their target price on Exelon from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $40.86.
Shares of Exelon (NYSE EXC) traded up $0.26 during mid-day trading on Wednesday, hitting $41.27. The company had a trading volume of 4,016,849 shares, compared to its average volume of 4,909,861. The company has a current ratio of 1.03, a quick ratio of 0.89 and a debt-to-equity ratio of 1.06. Exelon has a twelve month low of $33.30 and a twelve month high of $42.67. The company has a market cap of $40,246.88, a P/E ratio of 16.90, a P/E/G ratio of 3.65 and a beta of 0.30.
Exelon (NYSE:EXC) last announced its quarterly earnings data on Thursday, November 2nd. The energy giant reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.01). Exelon had a return on equity of 8.19% and a net margin of 6.59%. The business had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.58 billion. During the same quarter in the prior year, the company earned $0.91 earnings per share. Exelon’s quarterly revenue was down 2.6% compared to the same quarter last year. analysts anticipate that Exelon will post 2.65 EPS for the current year.
In other news, EVP Kenneth W. Cornew sold 25,000 shares of the firm’s stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $37.44, for a total transaction of $936,000.00. Following the completion of the transaction, the executive vice president now directly owns 28,363 shares in the company, valued at $1,061,910.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mayo A. Shattuck III sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $41.13, for a total value of $4,113,000.00. Following the transaction, the chairman now owns 267,649 shares of the company’s stock, valued at $11,008,403.37. The disclosure for this sale can be found here. Insiders sold 1,312,788 shares of company stock valued at $52,714,749 over the last quarter. Corporate insiders own 0.70% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of EXC. HL Financial Services LLC acquired a new stake in Exelon during the second quarter worth approximately $282,000. LMR Partners LLP grew its stake in Exelon by 48.1% during the second quarter. LMR Partners LLP now owns 25,452 shares of the energy giant’s stock worth $918,000 after purchasing an additional 8,268 shares during the period. State of Wisconsin Investment Board grew its stake in Exelon by 35.5% during the second quarter. State of Wisconsin Investment Board now owns 1,209,814 shares of the energy giant’s stock worth $43,638,000 after purchasing an additional 317,140 shares during the period. Northpointe Capital LLC grew its stake in Exelon by 4.6% during the second quarter. Northpointe Capital LLC now owns 136,721 shares of the energy giant’s stock worth $4,932,000 after purchasing an additional 6,006 shares during the period. Finally, SG Americas Securities LLC grew its stake in Exelon by 42.3% during the second quarter. SG Americas Securities LLC now owns 255,492 shares of the energy giant’s stock worth $9,216,000 after purchasing an additional 75,917 shares during the period. Institutional investors own 77.45% of the company’s stock.
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Exelon 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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