Zacks Investment Research Upgrades Exelon Corporation (EXC) to “Hold”
Exelon Corporation (NYSE:EXC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Friday.
According to Zacks, “In last 12 months shares of the Exelon Corporation have returned higher than the industry it belongs to. Exelon is well positioned to gain from rate revisions and strong operational performance across its business. Exelon continues with its hedging program to manage market risks and protect the value of its generation. Further, the company is gaining from the Pepco Holdings acquisition. It is also expected to reap the benefits from its organic investment and acquisition. However, Exelon is subject to the impact of commodity price volatility, price fluctuation in the wholesale markets and unfavorable weather conditions. Stringent government regulation is also a cause of concern. “
Several other brokerages also recently issued reports on EXC. J P Morgan Chase & Co raised their price objective on shares of Exelon Corporation from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Thursday, October 12th. SunTrust Banks, Inc. reissued a “buy” rating and set a $41.00 price objective on shares of Exelon Corporation in a research report on Thursday, October 12th. Barclays PLC reissued an “overweight” rating and set a $44.00 price objective (up from $43.00) on shares of Exelon Corporation in a research report on Thursday, August 3rd. BidaskClub raised shares of Exelon Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Finally, Goldman Sachs Group, Inc. (The) downgraded shares of Exelon Corporation from a “neutral” rating to a “sell” rating and set a $35.00 price objective on the stock. in a research report on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Exelon Corporation has an average rating of “Buy” and an average price target of $40.23.
Shares of Exelon Corporation (NYSE EXC) opened at 39.58 on Friday. The stock has a market capitalization of $38.00 billion, a price-to-earnings ratio of 20.93 and a beta of 0.29. The stock’s 50 day moving average is $38.10 and its 200-day moving average is $36.83. Exelon Corporation has a one year low of $29.82 and a one year high of $39.88.
Exelon Corporation (NYSE:EXC) last posted its earnings results on Wednesday, August 2nd. The energy giant reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.02. The firm had revenue of $7.62 billion for the quarter, compared to the consensus estimate of $7.88 billion. Exelon Corporation had a net margin of 5.41% and a return on equity of 8.47%. The company’s revenue was up 10.3% on a year-over-year basis. During the same period last year, the firm posted $0.65 EPS. On average, equities research analysts predict that Exelon Corporation will post $2.69 EPS for the current fiscal year.
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In related news, EVP Jonathan W. Thayer sold 215,669 shares of the firm’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $38.00, for a total value of $8,195,422.00. Following the completion of the sale, the executive vice president now owns 237,181 shares in the company, valued at $9,012,878. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paymon Aliabadi sold 13,333 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $38.31, for a total transaction of $510,787.23. Following the completion of the sale, the executive vice president now 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 quarter. Company insiders own 0.70% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in EXC. BlackRock Inc. lifted its stake in shares of Exelon Corporation by 3,711.9% in the first quarter. BlackRock Inc. now owns 74,283,986 shares of the energy giant’s stock valued at $2,672,738,000 after purchasing an additional 72,335,239 shares during the period. FMR LLC lifted its stake in shares of Exelon Corporation by 11.5% in the second quarter. FMR LLC now owns 53,846,913 shares of the energy giant’s stock valued at $1,942,258,000 after purchasing an additional 5,572,093 shares during the period. Vanguard Group Inc. lifted its stake in shares of Exelon Corporation by 6.9% in the second quarter. Vanguard Group Inc. now owns 69,038,056 shares of the energy giant’s stock valued at $2,490,203,000 after purchasing an additional 4,453,759 shares during the period. Franklin Resources Inc. lifted its stake in shares of Exelon Corporation by 60.2% in the second quarter. Franklin Resources Inc. now owns 10,920,256 shares of the energy giant’s stock valued at $393,894,000 after purchasing an additional 4,102,441 shares during the period. Finally, CI Global Investments Inc. acquired a new stake in shares of Exelon Corporation in the second quarter valued at about $136,723,000. Hedge funds and other institutional investors own 76.78% of the company’s stock.
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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