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Exelon Co. (NASDAQ:EXC) Raises Dividend to $0.34 Per Share

Financial News Live · Aug 10, 2022 12:01

Exelon Co. (NASDAQ:EXC – Get Rating) declared a quarterly dividend on Tuesday, July 26th, Zacks reports. Shareholders of record on Monday, August 15th will be paid a dividend of 0.338 per share on Friday, September 9th. This represents a $1.35 annualized dividend and a yield of 2.98%. The ex-dividend date is Friday, August 12th. This is an increase from Exelon's previous quarterly dividend of $0.34.

Exelon Stock Performance

Shares of Exelon stock opened at $45.40 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $44.50 billion, a P/E ratio of 16.75, a P/E/G ratio of 2.77 and a beta of 0.57. The business has a fifty day simple moving average of $44.66 and a two-hundred day simple moving average of $45.91. Exelon has a 12 month low of $33.73 and a 12 month high of $50.71.

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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 net margin of 9.45% and a return on equity of 10.38%. During the same period in the prior year, the company earned $0.89 EPS. On average, equities analysts forecast that Exelon will post 2.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO John Tyler Anthony sold 4,451 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 974 shares of the company's stock, valued at approximately $46,255.26. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.19% of the company's stock.

Hedge Funds Weigh In On Exelon

Several hedge funds have recently bought and sold shares of EXC. Charles Schwab Investment Management Inc. lifted its holdings in shares of Exelon by 2.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,368,637 shares of the company's stock worth $255,708,000 after buying an additional 144,759 shares during the period. First Trust Advisors LP lifted its holdings in shares of Exelon by 24.4% in the 1st quarter. First Trust Advisors LP now owns 2,730,711 shares of the company's stock worth $130,064,000 after buying an additional 535,957 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Exelon by 9.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,487,948 shares of the company's stock worth $118,500,000 after buying an additional 217,234 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Exelon by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,063,174 shares of the company's stock worth $98,262,000 after buying an additional 12,105 shares during the period. Finally, Clearbridge Investments LLC lifted its stake in shares of Exelon by 4.8% during the 1st quarter. Clearbridge Investments LLC now owns 1,652,407 shares of the company's stock worth $78,704,000 after purchasing an additional 75,243 shares during the last quarter. Institutional investors own 80.35% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on EXC shares. JPMorgan Chase & Co. upgraded Exelon from a "neutral" rating to an "overweight" rating and raised their price target for the company from $47.00 to $55.00 in a report on Wednesday, April 20th. KeyCorp reduced their price target on Exelon from $53.00 to $45.00 and set an "overweight" rating for the company in a report on Tuesday, July 19th. Barclays reduced their price objective on Exelon from $50.00 to $46.00 and set an "equal weight" rating for the company in a report on Monday, July 18th. Wells Fargo & Company reduced their price objective on Exelon from $52.00 to $49.00 and set an "equal weight" rating for the company in a report on Thursday, August 4th. Finally, BMO Capital Markets boosted their price target on Exelon from $49.00 to $51.00 and gave the company an "outperform" rating in a research note on Thursday, August 4th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.15.

Exelon Company Profile

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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.