Pier 88 Investment Partners LLC acquired a new position in Exelon Corporation (NYSE:EXC) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 129,323 shares of the energy giant’s stock, valued at approximately $4,665,000. Exelon Corporation accounts for 1.9% of Pier 88 Investment Partners LLC’s portfolio, making the stock its 22nd largest position.
Several other large investors have also made changes to their positions in EXC. V Wealth Management LLC acquired a new stake in shares of Exelon Corporation during the second quarter worth $111,000. Oregon Public Employees Retirement Fund raised its stake in shares of Exelon Corporation by 7.2% in the second quarter. Oregon Public Employees Retirement Fund now owns 512,927 shares of the energy giant’s stock worth $18,501,000 after buying an additional 34,600 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in shares of Exelon Corporation by 2.7% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 7,596 shares of the energy giant’s stock worth $274,000 after buying an additional 200 shares during the last quarter. Eqis Capital Management Inc. raised its stake in shares of Exelon Corporation by 6.9% in the second quarter. Eqis Capital Management Inc. now owns 32,551 shares of the energy giant’s stock worth $1,174,000 after buying an additional 2,089 shares during the last quarter. Finally, James Investment Research Inc. raised its stake in shares of Exelon Corporation by 2,504.2% in the second quarter. James Investment Research Inc. now owns 234,640 shares of the energy giant’s stock worth $8,463,000 after buying an additional 225,630 shares during the last quarter. Hedge funds and other institutional investors own 74.81% of the company’s stock.
Shares of Exelon Corporation (NYSE EXC) opened at 37.50 on Friday. Exelon Corporation has a 52-week low of $29.82 and a 52-week high of $38.78. The stock has a market capitalization of $36.00 billion, a P/E ratio of 19.83 and a beta of 0.27. The stock has a 50 day moving average of $37.05 and a 200-day moving average of $36.03.
Exelon Corporation (NYSE:EXC) last released its 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 return on equity of 8.47% and a net margin of 5.41%. The business 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 business’s revenue for the quarter was up 10.3% compared to the same quarter last year. Analysts predict that Exelon Corporation will post $2.69 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Tuesday, August 15th will be issued a $0.3275 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.31 annualized dividend and a dividend yield of 3.49%. Exelon Corporation’s payout ratio is currently 68.59%.
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A number of brokerages have recently weighed in on EXC. Barclays PLC restated an “overweight” rating and issued a $44.00 price objective (up from $43.00) on shares of Exelon Corporation in a report on Wednesday. BidaskClub upgraded shares of Exelon Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Citigroup Inc. upgraded shares of Exelon Corporation from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $36.00 to $43.00 in a report on Thursday, July 27th. Deutsche Bank AG reiterated a “buy” rating and set a $41.00 price target on shares of Exelon Corporation in a report on Monday, July 17th. Finally, Wolfe Research upgraded shares of Exelon Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, July 17th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $39.92.
In related news, EVP Paymon Aliabadi sold 13,333 shares of Exelon Corporation stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $37.05, for a total value of $493,987.65. Following the completion of the sale, the executive vice president now directly owns 53,102 shares in the company, valued at $1,967,429.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mayo A. Shattuck III sold 465,892 shares of Exelon Corporation stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $36.52, for a total value of $17,014,375.84. Following the completion of the sale, the chairman now owns 567,649 shares of the company’s stock, valued at $20,730,541.48. The disclosure for this sale can be found here. Insiders sold 927,844 shares of company stock valued at $34,570,885 over the last 90 days. 0.70% of the stock is currently owned by corporate insiders.
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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