Pinnacle Associates Ltd. Raises Stock Position in Exelon Corporation (NASDAQ:EXC)

Pinnacle Associates Ltd. grew its holdings in Exelon Corporation (NASDAQ:EXC) by 4.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,079 shares of the company’s stock after acquiring an additional 539 shares during the period. Pinnacle Associates Ltd.’s holdings in Exelon were worth $557,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Hazlett Burt & Watson Inc. grew its holdings in Exelon by 46.4% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 694 shares of the company’s stock valued at $32,000 after purchasing an additional 220 shares in the last quarter. CWM LLC grew its holdings in Exelon by 0.7% during the 1st quarter. CWM LLC now owns 33,775 shares of the company’s stock valued at $1,556,000 after purchasing an additional 226 shares in the last quarter. Catalyst Financial Partners LLC grew its holdings in Exelon by 2.4% during the 1st quarter. Catalyst Financial Partners LLC now owns 9,761 shares of the company’s stock valued at $450,000 after purchasing an additional 230 shares in the last quarter. Centre Asset Management LLC grew its holdings in Exelon by 3.2% during the 1st 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 in the last quarter. Finally, Resonant Capital Advisors LLC grew its holdings in Exelon by 3.8% during the 1st 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 in the last quarter. Hedge funds and other institutional investors own 80.92% of the company’s stock.

Exelon Trading Up 0.6%

NASDAQ EXC opened at $43.99 on Monday. Exelon Corporation has a one year low of $35.94 and a one year high of $48.11. The company has a 50-day simple moving average of $43.25 and a 200-day simple moving average of $43.41. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.98 and a current ratio of 1.09. The firm has a market capitalization of $44.41 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 2.58 and a beta of 0.39.

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

Exelon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, May 12th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend was Monday, May 12th. Exelon’s dividend payout ratio (DPR) is presently 59.48%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on EXC shares. Wells Fargo & Company raised their price target on shares of Exelon from $46.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday, May 2nd. BMO Capital Markets raised their price objective on shares of Exelon from $46.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, April 28th. UBS Group reissued a “neutral” rating and set a $48.00 price objective (up from $47.00) on shares of Exelon in a report on Friday, July 11th. Morgan Stanley decreased their price objective on shares of Exelon from $49.00 to $48.00 and set an “equal weight” rating for the company in a report on Thursday, May 22nd. Finally, Guggenheim raised their price objective on shares of Exelon from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $47.20.

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.