State of Alaska Department of Revenue lowered its stake in Exelon Co. (NASDAQ:EXC – Get Rating) by 8.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 149,806 shares of the company’s stock after selling 13,825 shares during the quarter. State of Alaska Department of Revenue’s holdings in Exelon were worth $6,788,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in Exelon by 20.1% in the 1st quarter. Wellington Management Group LLP now owns 93,209,957 shares of the company’s stock valued at $4,439,591,000 after acquiring an additional 15,573,269 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Exelon by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 86,862,993 shares of the company’s stock worth $4,137,284,000 after purchasing an additional 2,365,787 shares during the period. BlackRock Inc. lifted its holdings in Exelon by 2.4% during the 1st quarter. BlackRock Inc. now owns 77,171,172 shares of the company’s stock valued at $3,675,664,000 after buying an additional 1,794,762 shares in the last quarter. Capital International Investors lifted its holdings in Exelon by 0.8% during the 4th quarter. Capital International Investors now owns 59,795,610 shares of the company’s stock valued at $3,453,694,000 after buying an additional 491,087 shares in the last quarter. Finally, State Street Corp lifted its holdings in Exelon by 1.5% during the 4th quarter. State Street Corp now owns 59,727,079 shares of the company’s stock valued at $3,449,836,000 after buying an additional 861,513 shares in the last quarter. 82.70% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on EXC shares. BMO Capital Markets boosted their price target on shares of Exelon from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Thursday, August 4th. Barclays reduced their price objective on shares of Exelon from $50.00 to $46.00 and set an “equal weight” rating for the company in a research note on Monday, July 18th. UBS Group reduced their price objective on shares of Exelon from $54.00 to $49.00 and set a “buy” rating for the company in a research note on Thursday, June 30th. Argus boosted their price objective on shares of Exelon from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, June 8th. Finally, Mizuho boosted their price objective on shares of Exelon from $46.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, August 31st. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.23.
Exelon Trading Up 0.4 %
Exelon (NASDAQ:EXC – Get Rating) last issued its 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). The firm had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.12 billion. Exelon had a net margin of 9.45% and a return on equity of 10.38%. Sell-side analysts forecast that Exelon Co. will post 2.27 EPS for the current year.
Exelon Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Monday, August 15th were issued a dividend of $0.338 per share. The ex-dividend date of this dividend was Friday, August 12th. This represents a $1.35 dividend on an annualized basis and a yield of 3.12%. This is a boost from Exelon’s previous quarterly dividend of $0.34. Exelon’s dividend payout ratio (DPR) is presently 49.82%.
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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