HBK Sorce Advisory LLC raised its holdings in shares of Exelon Co. (NYSE:EXC) by 79.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,967 shares of the energy giant’s stock after buying an additional 8,863 shares during the period. HBK Sorce Advisory LLC’s holdings in Exelon were worth $787,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the business. NuWave Investment Management LLC bought a new position in shares of Exelon in the fourth quarter worth approximately $105,000. Bank of Nova Scotia Trust Co. bought a new position in shares of Exelon in the third quarter worth approximately $102,000. Delpha Capital Management LLC bought a new position in shares of Exelon in the fourth quarter worth approximately $108,000. Baker Ellis Asset Management LLC bought a new position in shares of Exelon in the fourth quarter worth approximately $118,000. Finally, Cerebellum GP LLC bought a new position in shares of Exelon in the fourth quarter worth approximately $122,000. 78.17% of the stock is owned by institutional investors and hedge funds.
In other Exelon news, CEO Calvin Butler, Jr. sold 25,000 shares of the stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $37.94, for a total transaction of $948,500.00. Following the completion of the transaction, the chief executive officer now owns 19,429 shares in the company, valued at $737,136.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is owned by company insiders.
Exelon (NYSE:EXC) last issued its earnings results on Wednesday, February 7th. The energy giant reported $0.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.05). Exelon had a return on equity of 8.35% and a net margin of 11.53%. The company had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $7.66 billion. During the same quarter in the prior year, the company posted $0.44 EPS. Exelon’s revenue was up 6.4% compared to the same quarter last year. analysts expect that Exelon Co. will post 3.06 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Thursday, February 15th were given a dividend of $0.345 per share. This is a positive change from Exelon’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.38 dividend on an annualized basis and a dividend yield of 3.60%. Exelon’s dividend payout ratio is currently 34.94%.
A number of research firms have weighed in on EXC. JPMorgan Chase & Co. dropped their price target on shares of Exelon from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, February 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $43.00 price target on shares of Exelon in a research report on Wednesday, February 14th. Zacks Investment Research upgraded shares of Exelon from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Friday, February 9th. KeyCorp dropped their price target on shares of Exelon from $45.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, February 9th. Finally, Morgan Stanley dropped their price target on shares of Exelon from $42.00 to $41.00 and set an “equal weight” rating for the company in a research report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $40.91.
Exelon Company Profile
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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