Wealthfront Inc. increased its position in shares of Exelon Co. (NYSE:EXC) by 16.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 53,868 shares of the energy giant’s stock after buying an additional 7,423 shares during the quarter. Wealthfront Inc.’s holdings in Exelon were worth $2,123,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of Nova Scotia Trust Co. bought a new stake in Exelon in the 3rd quarter valued at $102,000. NuWave Investment Management LLC bought a new stake in Exelon in the 4th quarter valued at $105,000. Baker Ellis Asset Management LLC bought a new stake in Exelon in the 4th quarter valued at $118,000. Cerebellum GP LLC bought a new stake in Exelon in the 4th quarter valued at $122,000. Finally, Advisory Services Network LLC boosted its holdings in Exelon by 24.3% in the 2nd quarter. Advisory Services Network LLC now owns 4,647 shares of the energy giant’s stock valued at $168,000 after purchasing an additional 908 shares during the period. 78.42% of the stock is owned by institutional investors and hedge funds.
A number of analysts have weighed in on the stock. Morgan Stanley increased their price target on shares of Exelon from $42.00 to $43.00 and gave the company an “equal weight” rating in a report on Wednesday, December 13th. Mizuho assumed coverage on shares of Exelon in a report on Friday, December 15th. They issued an “underperform” rating and a $36.00 price target for the company. Royal Bank of Canada reissued a “buy” rating and issued a $43.00 price target on shares of Exelon in a report on Tuesday, November 7th. Bank of America assumed coverage on shares of Exelon in a report on Tuesday, October 24th. They issued a “buy” rating and a $43.00 price target for the company. Finally, Zacks Investment Research raised shares of Exelon from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Exelon has an average rating of “Buy” and an average target price of $41.03.
Exelon (NYSE:EXC) last announced its quarterly earnings data on Wednesday, February 7th. The energy giant reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). Exelon had a net margin of 11.53% and a return on equity of 8.35%. The business had revenue of $8.38 billion during the quarter, compared to analyst estimates of $7.66 billion. During the same quarter in the prior year, the company posted $0.44 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. sell-side analysts forecast that Exelon Co. will post 3.06 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Thursday, February 15th will be paid a $0.345 dividend. This is a boost from Exelon’s previous quarterly dividend of $0.33. The ex-dividend date is Wednesday, February 14th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 3.65%. Exelon’s dividend payout ratio is currently 34.94%.
In other news, EVP Paymon Aliabadi sold 13,334 shares of the stock in a transaction on Friday, December 8th. The shares were sold at an average price of $40.62, for a total value of $541,627.08. Following the completion of the transaction, the executive vice president now owns 26,435 shares in the company, valued at approximately $1,073,789.70. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.70% of the company’s stock.
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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