Exelon (EXC) Price Target Raised to $49.50

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Exelon (NYSE:EXC) had its price target increased by Mizuho from $47.00 to $49.50 in a research note released on Thursday morning, BenzingaRatingsTable reports. Mizuho currently has a neutral rating on the energy giant’s stock.

Several other equities analysts have also issued reports on EXC. Goldman Sachs Group upgraded Exelon from a sell rating to a neutral rating and lifted their price target for the company from $43.00 to $47.00 in a research note on Tuesday, April 9th. Scotiabank reiterated a buy rating and issued a $50.00 price target on shares of Exelon in a research note on Wednesday, February 13th. Morgan Stanley lifted their price target on Exelon from $47.00 to $49.00 and gave the company an equal weight rating in a research note on Tuesday, February 12th. Wells Fargo & Co reiterated a hold rating on shares of Exelon in a research note on Friday, February 8th. Finally, Royal Bank of Canada reissued a buy rating and set a $51.00 price objective on shares of Exelon in a report on Wednesday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Exelon currently has a consensus rating of Buy and a consensus price target of $48.97.

Shares of EXC traded down $0.02 during midday trading on Thursday, hitting $48.89. The company’s stock had a trading volume of 96,716 shares, compared to its average volume of 5,138,635. Exelon has a one year low of $39.10 and a one year high of $51.03. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.89 and a current ratio of 1.02. The firm has a market cap of $47.35 billion, a price-to-earnings ratio of 15.66, a PEG ratio of 4.12 and a beta of 0.37.

Exelon (NYSE:EXC) last issued its quarterly earnings results on Thursday, May 2nd. The energy giant reported $0.87 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.87. Exelon had a return on equity of 8.85% and a net margin of 6.52%. The company had revenue of $9.48 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same quarter last year, the company posted $0.96 EPS. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, research analysts forecast that Exelon will post 3.14 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be issued a dividend of $0.3625 per share. This represents a $1.45 annualized dividend and a dividend yield of 2.97%. The ex-dividend date is Tuesday, May 14th. Exelon’s dividend payout ratio (DPR) is 46.47%.

In other Exelon news, EVP Paymon Aliabadi sold 17,500 shares of Exelon stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $48.36, for a total transaction of $846,300.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Joseph Nigro sold 53,800 shares of Exelon stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $49.59, for a total value of $2,667,942.00. Following the transaction, the executive vice president now directly owns 99,574 shares in the company, valued at $4,937,874.66. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Horizon Investments LLC lifted its holdings in Exelon by 22.8% during the 1st quarter. Horizon Investments LLC now owns 38,621 shares of the energy giant’s stock worth $1,923,000 after buying an additional 7,164 shares during the period. Castle Rock Wealth Management LLC acquired a new position in Exelon during the 1st quarter worth about $70,182,000. HighTower Advisors LLC lifted its holdings in Exelon by 45.7% during the 1st quarter. HighTower Advisors LLC now owns 139,572 shares of the energy giant’s stock worth $7,008,000 after buying an additional 43,766 shares during the period. MIG Capital LLC lifted its holdings in Exelon by 24.4% during the 1st quarter. MIG Capital LLC now owns 5,776 shares of the energy giant’s stock worth $290,000 after buying an additional 1,133 shares during the period. Finally, Teilinger Capital Ltd. acquired a new position in Exelon during the 1st quarter worth about $25,541,000. 80.23% of the stock is currently owned by hedge funds and other institutional investors.

About Exelon

Exelon Corporation, a utility services holding company, engages in energy generation and delivery businesses in the United States and Canada. It owns nuclear, fossil, wind, hydroelectric, 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.

Further Reading: What is diluted earnings per share (Diluted EPS)?

Analyst Recommendations for Exelon (NYSE:EXC)

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