Huntington National Bank lowered its stake in Exelon Co. (NYSE:EXC) by 4.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,809 shares of the energy giant’s stock after selling 1,453 shares during the period. Huntington National Bank’s holdings in Exelon were worth $1,046,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its position in Exelon by 35.0% in the first quarter. Wellington Management Group LLP now owns 66,898,005 shares of the energy giant’s stock worth $2,462,516,000 after acquiring an additional 17,354,482 shares in the last quarter. State Street Corp lifted its stake in Exelon by 2.7% in the first quarter. State Street Corp now owns 61,667,122 shares of the energy giant’s stock worth $2,269,967,000 after purchasing an additional 1,606,032 shares during the last quarter. Capital International Investors lifted its stake in Exelon by 11.7% in the first quarter. Capital International Investors now owns 28,616,439 shares of the energy giant’s stock worth $1,053,371,000 after purchasing an additional 2,986,475 shares during the last quarter. Invesco Ltd. lifted its stake in Exelon by 28.6% in the first quarter. Invesco Ltd. now owns 27,350,884 shares of the energy giant’s stock worth $1,006,786,000 after purchasing an additional 6,084,882 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Exelon by 4.6% in the first quarter. Geode Capital Management LLC now owns 15,585,513 shares of the energy giant’s stock worth $572,617,000 after purchasing an additional 685,896 shares during the last quarter. Institutional investors own 78.99% of the company’s stock.
Several analysts have recently weighed in on the stock. BMO Capital Markets decreased their price target on shares of Exelon from $49.00 to $48.00 and set an “outperform” rating for the company in a research note on Monday, May 11th. Seaport Global Securities assumed coverage on shares of Exelon in a research note on Wednesday, May 20th. They set a “buy” rating and a $40.00 price target for the company. Wells Fargo & Co decreased their price target on shares of Exelon from $59.00 to $49.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Bank of America downgraded shares of Exelon from a “buy” rating to a “neutral” rating and set a $41.00 price target for the company. in a research note on Tuesday, July 21st. Finally, Morgan Stanley lifted their price target on shares of Exelon from $58.00 to $59.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $46.33.
Exelon (NYSE:EXC) last released its quarterly earnings results on Friday, May 8th. The energy giant reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.02. The business had revenue of $8.75 billion for the quarter, compared to analyst estimates of $8.82 billion. Exelon had a net margin of 6.43% and a return on equity of 8.47%. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.87 earnings per share. As a group, sell-side analysts anticipate that Exelon Co. will post 3.14 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.3825 per share. This represents a $1.53 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date is Thursday, August 13th. Exelon’s dividend payout ratio (DPR) is presently 49.04%.
Exelon Company Profile
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.
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