Ballentine Partners LLC Purchases 1,978 Shares of Exelon Corporation (NASDAQ:EXC)

Ballentine Partners LLC boosted its position in shares of Exelon Corporation (NASDAQ:EXC) by 12.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,590 shares of the company’s stock after acquiring an additional 1,978 shares during the quarter. Ballentine Partners LLC’s holdings in Exelon were worth $811,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EXC. Centre Asset Management LLC raised its position in shares of Exelon by 3.2% in the first quarter. Centre Asset Management LLC now owns 7,584 shares of the company’s stock valued at $349,000 after purchasing an additional 233 shares during the period. Resonant Capital Advisors LLC raised its position in shares of Exelon by 3.8% in the first quarter. Resonant Capital Advisors LLC now owns 7,220 shares of the company’s stock valued at $333,000 after purchasing an additional 267 shares during the period. Confluence Wealth Services Inc. raised its position in shares of Exelon by 3.3% in the first quarter. Confluence Wealth Services Inc. now owns 8,670 shares of the company’s stock valued at $406,000 after purchasing an additional 275 shares during the period. First Horizon Advisors Inc. raised its position in shares of Exelon by 6.2% in the first quarter. First Horizon Advisors Inc. now owns 5,106 shares of the company’s stock valued at $235,000 after purchasing an additional 296 shares during the period. Finally, Stanley Laman Group Ltd. raised its position in shares of Exelon by 3.8% in the first quarter. Stanley Laman Group Ltd. now owns 8,881 shares of the company’s stock valued at $409,000 after purchasing an additional 323 shares during the period. 80.92% of the stock is owned by institutional investors.

Exelon Trading Down 0.3%

Shares of Exelon stock opened at $43.51 on Monday. The company has a market capitalization of $43.93 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 2.52 and a beta of 0.39. The company has a quick ratio of 0.98, a current ratio of 1.09 and a debt-to-equity ratio of 1.66. Exelon Corporation has a 12-month low of $34.82 and a 12-month high of $48.11. The firm’s 50-day moving average price is $43.46 and its two-hundred day moving average price is $43.01.

Exelon (NASDAQ:EXC) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.06. The firm had revenue of $6.71 billion for the quarter, compared to the consensus estimate of $6.30 billion. Exelon had a net margin of 11.44% and a return on equity of 10.29%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.68 earnings per share. On average, analysts forecast that Exelon Corporation will post 2.64 earnings per share for the current fiscal year.

Exelon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, May 12th were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.68%. Exelon’s payout ratio is currently 59.48%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Exelon from $46.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, May 2nd. KeyCorp lowered shares of Exelon from a “sector weight” rating to an “underweight” rating and set a $39.00 price target on the stock. in a research report on Wednesday, May 14th. UBS Group raised their price target on shares of Exelon from $47.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday. Guggenheim raised their price target on shares of Exelon from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Finally, Morgan Stanley lowered their price target on shares of Exelon from $49.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Exelon currently has a consensus rating of “Hold” and an average price target of $47.40.

Exelon Profile

Exelon Corporation, a utility services holding company, engages in the energy distribution and transmission businesses in the United States and Canada. The company is involved in the purchase and regulated retail sale of electricity and natural gas, transmission and distribution of electricity, and distribution of natural gas to retail customers.