Patten & Patten Inc. TN Makes New Investment in Exelon Corporation (NASDAQ:EXC)

Patten & Patten Inc. TN acquired a new stake in Exelon Corporation (NASDAQ:EXC) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,024 shares of the company’s stock, valued at approximately $232,000.

A number of other hedge funds also recently made changes to their positions in the business. MJT & Associates Financial Advisory Group Inc. bought a new stake in Exelon in the 1st quarter valued at $42,000. PTM Wealth Management LLC acquired a new position in shares of Exelon in the first quarter valued at $597,000. Foundations Investment Advisors LLC raised its position in shares of Exelon by 140.5% in the first quarter. Foundations Investment Advisors LLC now owns 16,428 shares of the company’s stock valued at $757,000 after purchasing an additional 9,598 shares during the period. Norden Group LLC lifted its stake in shares of Exelon by 20.7% during the 1st quarter. Norden Group LLC now owns 8,721 shares of the company’s stock worth $402,000 after buying an additional 1,494 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Exelon by 190.5% during the 1st quarter. Mackenzie Financial Corp now owns 686,395 shares of the company’s stock worth $31,629,000 after buying an additional 450,141 shares during the period. 80.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EXC has been the topic of several research analyst reports. UBS Group restated a “neutral” rating and set a $48.00 price objective (up from $47.00) on shares of Exelon in a research report on Friday, July 11th. KeyCorp dropped their price target on Exelon from $39.00 to $37.00 and set an “underweight” rating for the company in a report on Wednesday, July 16th. BMO Capital Markets upped their price objective on Exelon from $46.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, April 28th. Guggenheim lifted their target price on Exelon from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Finally, Wells Fargo & Company upped their price target on shares of Exelon from $46.00 to $50.00 and gave the company an “equal weight” rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $47.20.

Exelon Price Performance

Shares of NASDAQ EXC opened at $43.41 on Tuesday. The business has a fifty day moving average price of $43.23 and a two-hundred day moving average price of $43.45. The stock has a market capitalization of $43.82 billion, a PE ratio of 16.14, a P/E/G ratio of 2.58 and a beta of 0.39. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.98. Exelon Corporation has a fifty-two week low of $35.94 and a fifty-two week high of $48.11.

Exelon (NASDAQ:EXC) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.06. Exelon had a return on equity of 10.29% and a net margin of 11.44%. The company had revenue of $6.71 billion for the quarter, compared to analysts’ expectations of $6.30 billion. During the same quarter last year, the business earned $0.68 earnings per share. Exelon’s revenue was up 11.1% on a year-over-year basis. As a group, equities analysts predict that Exelon Corporation will post 2.64 earnings per share for the current fiscal year.

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.