Exelon (NASDAQ:EXC) Issues Quarterly Earnings Results

Exelon (NASDAQ:EXCGet Rating) posted its quarterly earnings results on Wednesday. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.02), RTT News reports. Exelon had a net margin of 9.45% and a return on equity of 10.38%. During the same period in the previous year, the company posted $0.89 EPS. Exelon updated its FY22 guidance to $2.18-2.32 EPS and its FY 2022 guidance to $2.18-$2.32 EPS.

Exelon Trading Down 0.6 %

Shares of EXC traded down $0.29 during midday trading on Friday, hitting $44.77. 11,593,768 shares of the stock were exchanged, compared to its average volume of 5,611,427. The firm has a market cap of $43.88 billion, a P/E ratio of 16.52, a P/E/G ratio of 2.79 and a beta of 0.57. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.88 and a current ratio of 0.91. Exelon has a 52-week low of $33.64 and a 52-week high of $50.71. The stock has a fifty day simple moving average of $44.83 and a 200 day simple moving average of $46.14.

Exelon Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Monday, August 15th will be given a dividend of $0.338 per share. This is a positive change from Exelon’s previous quarterly dividend of $0.34. This represents a $1.35 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend is Friday, August 12th. Exelon’s dividend payout ratio (DPR) is currently 49.82%.

Analyst Ratings Changes

A number of research firms recently weighed in on EXC. UBS Group reduced their price target on Exelon from $54.00 to $49.00 and set a “buy” rating for the company in a report on Thursday, June 30th. KeyCorp reduced their target price on Exelon from $53.00 to $45.00 and set an “overweight” rating for the company in a report on Tuesday, July 19th. BMO Capital Markets increased their target price on Exelon from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Thursday. Wells Fargo & Company reduced their target price on Exelon from $52.00 to $49.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, JPMorgan Chase & Co. raised Exelon from a “neutral” rating to an “overweight” rating and increased their target price for the company from $47.00 to $55.00 in a report on Wednesday, April 20th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Exelon has an average rating of “Moderate Buy” and an average price target of $48.15.

Insider Activity

In other news, CEO John Tyler Anthony sold 4,451 shares of the stock in a transaction on Wednesday, May 18th. The stock was sold at an average price of $47.49, for a total value of $211,377.99. Following the sale, the chief executive officer now directly owns 974 shares in the company, valued at $46,255.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Exelon

Several hedge funds have recently made changes to their positions in the company. First Trust Advisors LP grew its holdings in shares of Exelon by 24.4% during the first quarter. First Trust Advisors LP now owns 2,730,711 shares of the company’s stock worth $130,064,000 after buying an additional 535,957 shares during the last quarter. Coann Capital LLC purchased a new position in shares of Exelon during the first quarter worth about $11,538,000. Bridgewater Associates LP boosted its holdings in Exelon by 540.1% in the 1st quarter. Bridgewater Associates LP now owns 262,758 shares of the company’s stock valued at $12,515,000 after purchasing an additional 221,706 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Exelon by 9.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,487,948 shares of the company’s stock valued at $118,500,000 after purchasing an additional 217,234 shares in the last quarter. Finally, Federated Hermes Inc. boosted its holdings in Exelon by 31.4% in the 1st quarter. Federated Hermes Inc. now owns 877,044 shares of the company’s stock valued at $41,773,000 after purchasing an additional 209,531 shares in the last quarter. Hedge funds and other institutional investors own 80.35% of the company’s stock.

About Exelon

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Exelon Corporation, a utility services holding company, engages in the energy generation, delivery, and marketing businesses in the United States and Canada. It owns nuclear, fossil, wind, hydroelectric, biomass, 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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Earnings History for Exelon (NASDAQ:EXC)

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