Wells Fargo & Company Boosts Exelon (NASDAQ:EXC) Price Target to $40.00

Exelon (NASDAQ:EXC) had its price target boosted by Wells Fargo & Company from $39.00 to $40.00 in a report published on Friday, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research firms have also commented on EXC. Bank of America dropped their price target on shares of Exelon from $38.00 to $36.00 and set a neutral rating on the stock in a research report on Friday, January 19th. Seaport Res Ptn downgraded Exelon from a buy rating to a neutral rating in a research report on Monday, January 8th. Scotiabank dropped their price objective on Exelon from $39.00 to $37.00 and set a sector perform rating on the stock in a research note on Monday, April 22nd. Barclays increased their target price on Exelon from $36.00 to $39.00 and gave the company an overweight rating in a research note on Thursday, March 14th. Finally, Mizuho raised Exelon from a neutral rating to a buy rating and lifted their price target for the stock from $36.00 to $39.00 in a research report on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $38.83.

Exelon Stock Performance

Shares of NASDAQ EXC opened at $37.41 on Friday. Exelon has a 1 year low of $33.35 and a 1 year high of $43.53. The firm has a market cap of $37.41 billion, a P/E ratio of 16.13, a PEG ratio of 2.71 and a beta of 0.53. The stock has a fifty day moving average price of $36.94 and a two-hundred day moving average price of $36.98. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.93 and a current ratio of 1.03.

Exelon (NASDAQ:EXC) last issued its earnings results on Wednesday, February 21st. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Exelon had a return on equity of 9.27% and a net margin of 10.44%. The company had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $3.87 billion. During the same quarter in the prior year, the company earned $0.43 EPS. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. Research analysts forecast that Exelon will post 2.43 EPS for the current fiscal year.

Exelon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, May 13th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.06%. Exelon’s payout ratio is 65.52%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in EXC. Norges Bank acquired a new stake in shares of Exelon in the 4th quarter valued at approximately $382,015,000. DekaBank Deutsche Girozentrale grew its holdings in Exelon by 507.9% during the third quarter. DekaBank Deutsche Girozentrale now owns 3,161,879 shares of the company’s stock worth $119,505,000 after purchasing an additional 2,641,756 shares during the period. Wellington Management Group LLP increased its position in Exelon by 2.6% during the fourth quarter. Wellington Management Group LLP now owns 93,146,101 shares of the company’s stock worth $3,343,945,000 after buying an additional 2,352,547 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Exelon by 501.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,290,847 shares of the company’s stock valued at $86,571,000 after buying an additional 1,909,731 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Exelon by 12.2% during the 3rd quarter. Invesco Ltd. now owns 10,069,810 shares of the company’s stock worth $380,538,000 after acquiring an additional 1,092,736 shares during the period. Institutional investors own 80.92% of the company’s stock.

Exelon Company Profile

Exelon Corporation, a utility services holding company, engages in the energy distribution and transmission businesses in the United States and Canada. The company is involved in the purchase and regulated retail sale of electricity and natural gas, transmission and distribution of electricity, and distribution of natural gas to retail customers.