OppenheimerFunds Inc. cut its stake in Exelon Co. (NYSE:EXC) by 33.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 667,168 shares of the energy giant’s stock after selling 341,896 shares during the quarter. OppenheimerFunds Inc. owned about 0.07% of Exelon worth $33,445,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of EXC. HL Financial Services LLC grew its position in shares of Exelon by 3.2% in the 1st quarter. HL Financial Services LLC now owns 6,387 shares of the energy giant’s stock worth $320,000 after buying an additional 200 shares during the period. Braun Bostich & Associates Inc. grew its position in Exelon by 51.7% during the 4th quarter. Braun Bostich & Associates Inc. now owns 613 shares of the energy giant’s stock valued at $28,000 after purchasing an additional 209 shares during the last quarter. Coldstream Capital Management Inc. grew its position in Exelon by 3.1% during the 1st quarter. Coldstream Capital Management Inc. now owns 7,030 shares of the energy giant’s stock valued at $352,000 after purchasing an additional 212 shares during the last quarter. Bank of The West grew its position in Exelon by 2.0% during the 1st quarter. Bank of The West now owns 11,953 shares of the energy giant’s stock valued at $599,000 after purchasing an additional 233 shares during the last quarter. Finally, Tortoise Investment Management LLC grew its position in Exelon by 58.5% during the 1st quarter. Tortoise Investment Management LLC now owns 634 shares of the energy giant’s stock valued at $32,000 after purchasing an additional 234 shares during the last quarter. Institutional investors and hedge funds own 79.78% of the company’s stock.
Several analysts recently commented on EXC shares. SunTrust Banks reissued a “hold” rating and set a $49.00 price objective on shares of Exelon in a research report on Tuesday, February 12th. Mizuho upped their target price on shares of Exelon from $47.00 to $49.50 and gave the company a “neutral” rating in a research note on Thursday, May 16th. KeyCorp assumed coverage on shares of Exelon in a research note on Tuesday, June 4th. They issued a “sector weight” rating on the stock. Wells Fargo & Co upgraded shares of Exelon from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $50.00 to $57.00 in a research note on Tuesday, April 2nd. Finally, Morgan Stanley increased their price objective on shares of Exelon from $47.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 12th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Exelon currently has an average rating of “Buy” and a consensus price target of $49.28.
NYSE EXC traded up $1.16 on Wednesday, reaching $50.37. 109,443 shares of the stock were exchanged, compared to its average volume of 5,171,579. Exelon Co. has a one year low of $39.91 and a one year high of $51.18. The stock has a market cap of $47.99 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 4.21 and a beta of 0.39. The company has a current ratio of 1.02, a quick ratio of 0.89 and a debt-to-equity ratio of 0.99.
Exelon (NYSE:EXC) last released its earnings results on Thursday, May 2nd. The energy giant reported $0.87 EPS for the quarter, hitting analysts’ consensus estimates of $0.87. Exelon had a net margin of 6.52% and a return on equity of 8.85%. The company had revenue of $9.48 billion for the quarter, compared to analysts’ expectations of $9.10 billion. During the same quarter last year, the business earned $0.96 EPS. The firm’s revenue was down 2.2% compared to the same quarter last year. Sell-side analysts forecast that Exelon Co. will post 3.14 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th were paid a dividend of $0.3625 per share. This represents a $1.45 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend was Tuesday, May 14th. Exelon’s payout ratio is 46.47%.
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Exelon Corporation, a utility services holding company, engages in energy generation and delivery businesses in the United States and Canada. It owns nuclear, fossil, wind, hydroelectric, and solar generating facilities. The company also sells electricity to wholesale and retail customers; and sells natural gas, renewable energy, and other energy-related products and services.
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