Covington Investment Advisors Inc. Purchases New Holdings in Exelon Corporation $EXC

Covington Investment Advisors Inc. acquired a new position in Exelon Corporation (NASDAQ:EXC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 48,706 shares of the company’s stock, valued at approximately $2,271,000.

Several other large investors also recently bought and sold shares of EXC. Vanguard Group Inc. lifted its position in shares of Exelon by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 131,118,541 shares of the company’s stock valued at $5,715,457,000 after acquiring an additional 595,555 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Exelon in the second quarter worth approximately $5,583,709,000. State Street Corp increased its position in shares of Exelon by 4.0% during the fourth quarter. State Street Corp now owns 66,623,103 shares of the company’s stock worth $2,904,101,000 after purchasing an additional 2,550,786 shares in the last quarter. Lazard Asset Management LLC raised its stake in Exelon by 6.4% in the 1st quarter. Lazard Asset Management LLC now owns 24,620,304 shares of the company’s stock valued at $1,206,887,000 after purchasing an additional 1,490,251 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in Exelon by 2.9% in the 4th quarter. Deutsche Bank AG now owns 20,964,736 shares of the company’s stock valued at $913,853,000 after purchasing an additional 595,655 shares during the last quarter. 80.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on EXC shares. TD Cowen decreased their price objective on Exelon from $51.00 to $49.00 and set a “hold” rating on the stock in a report on Friday, May 15th. KeyCorp reduced their target price on shares of Exelon from $43.00 to $41.00 and set an “underweight” rating for the company in a research report on Wednesday, May 13th. Morgan Stanley decreased their price target on shares of Exelon from $55.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Friday. Weiss Ratings lowered shares of Exelon from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 9th. Finally, Truist Financial dropped their price objective on shares of Exelon from $50.00 to $48.00 and set a “hold” rating for the company in a research note on Thursday, August 13th. Four investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $50.07.

Exelon Price Performance

Shares of EXC opened at $43.78 on Monday. Exelon Corporation has a 52-week low of $42.58 and a 52-week high of $50.65. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 1.71. The stock has a fifty day simple moving average of $46.25 and a two-hundred day simple moving average of $46.70. The company has a market capitalization of $45.19 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 2.65 and a beta of 0.31.

Exelon (NASDAQ:EXC) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.01). Exelon had a net margin of 10.99% and a return on equity of 9.81%. The firm had revenue of $5.97 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same period in the previous year, the firm posted $0.39 EPS. The company’s revenue was up 10.0% compared to the same quarter last year. Exelon has set its FY 2026 guidance at 2.810-2.910 EPS. As a group, equities analysts forecast that Exelon Corporation will post 2.86 EPS for the current year.

Exelon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, September 4th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.8%. The ex-dividend date is Friday, September 4th. Exelon’s payout ratio is presently 61.54%.

Exelon Company Profile

Exelon Corporation (NASDAQ: EXC) is a Chicago-based energy company that operates primarily as a regulated electric and natural gas utility holding company. The company’s businesses focus on the delivery of electricity and related services to residential, commercial and industrial customers, as well as investments in grid modernization, customer energy solutions and demand-side programs. Exelon’s operations emphasize reliable service delivery, infrastructure maintenance and regulatory compliance across its utility footprint.

Formed in 2000 through the merger of Unicom and PECO Energy, Exelon historically combined generation and regulated utility businesses.