Exelon Co. (NASDAQ:EXC – Get Rating) – Equities research analysts at KeyCorp upped their Q3 2022 earnings per share (EPS) estimates for Exelon in a research note issued on Thursday, August 4th. KeyCorp analyst S. Karp now expects that the company will earn $0.69 per share for the quarter, up from their previous estimate of $0.68. KeyCorp currently has a “Overweight” rating and a $45.00 target price on the stock. The consensus estimate for Exelon’s current full-year earnings is $2.28 per share. KeyCorp also issued estimates for Exelon’s FY2022 earnings at $2.24 EPS, FY2023 earnings at $2.43 EPS, FY2024 earnings at $2.60 EPS, FY2025 earnings at $2.77 EPS and FY2026 earnings at $2.92 EPS.
Several other research analysts have also recently issued reports on the company. Argus increased their price objective on Exelon from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, June 8th. JPMorgan Chase & Co. raised Exelon from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $47.00 to $55.00 in a research note on Wednesday, April 20th. Wells Fargo & Company dropped their price objective on Exelon from $52.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Thursday. Barclays dropped their price objective on Exelon from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Monday, July 18th. Finally, BMO Capital Markets increased their target price on Exelon from $49.00 to $51.00 and gave the company an “outperform” rating in a research report on Thursday. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $48.15.
Exelon Stock Down 0.6 %
Exelon (NASDAQ:EXC – Get Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.02). Exelon had a return on equity of 10.38% and a net margin of 9.45%. During the same period in the previous year, the company earned $0.89 earnings per share.
Exelon Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Monday, August 15th will be issued a dividend of $0.338 per share. This represents a $1.35 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend is Friday, August 12th. This is a positive change from Exelon’s previous quarterly dividend of $0.34. Exelon’s dividend payout ratio is currently 49.82%.
In other news, CEO John Tyler Anthony sold 4,451 shares of the stock in a transaction on Wednesday, May 18th. The stock was sold at an average price of $47.49, for a total transaction of $211,377.99. Following the completion of the sale, the chief executive officer now owns 974 shares in the company, valued at approximately $46,255.26. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.19% of the company’s stock.
Institutional Trading of Exelon
Hedge funds and other institutional investors have recently made changes to their positions in the business. Quadrant Capital Group LLC raised its stake in Exelon by 5.2% in the 4th quarter. Quadrant Capital Group LLC now owns 3,547 shares of the company’s stock worth $205,000 after acquiring an additional 175 shares during the last quarter. JJJ Advisors Inc. raised its stake in Exelon by 30.2% in the 1st quarter. JJJ Advisors Inc. now owns 939 shares of the company’s stock worth $45,000 after acquiring an additional 218 shares during the last quarter. SVB Wealth LLC raised its stake in Exelon by 2.9% in the 1st quarter. SVB Wealth LLC now owns 7,714 shares of the company’s stock worth $367,000 after acquiring an additional 219 shares during the last quarter. Optimum Investment Advisors raised its stake in Exelon by 30.9% in the 1st quarter. Optimum Investment Advisors now owns 945 shares of the company’s stock worth $45,000 after acquiring an additional 223 shares during the last quarter. Finally, Quent Capital LLC raised its stake in Exelon by 6.1% in the 1st quarter. Quent Capital LLC now owns 4,032 shares of the company’s stock worth $192,000 after acquiring an additional 231 shares during the last quarter. Hedge funds and other institutional investors own 80.35% of the company’s stock.
Exelon Corporation, a utility services holding company, engages in the energy generation, delivery, and marketing businesses in the United States and Canada. It owns nuclear, fossil, wind, hydroelectric, biomass, 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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