Exelon Corporation $EXC Stock: Candriam S.C.A. Decreases Holdings

Candriam S.C.A. reduced its stake in shares of Exelon Corporation (NASDAQ:EXC) by 3.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,212,479 shares of the company’s stock after selling 40,288 shares during the period. Candriam S.C.A.’s holdings in Exelon were worth $49,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Exelon during the second quarter valued at $5,583,709,000. Lazard Asset Management LLC lifted its position in shares of Exelon by 6.4% in the first quarter. Lazard Asset Management LLC now owns 24,620,304 shares of the company’s stock worth $1,206,887,000 after purchasing an additional 1,490,251 shares in the last quarter. GQG Partners LLC acquired a new stake in shares of Exelon during the second quarter worth approximately $922,917,000. Legal & General Group Plc acquired a new stake in shares of Exelon during the second quarter worth approximately $602,760,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Exelon during the second quarter worth approximately $580,842,000. 80.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. KeyCorp upgraded shares of Exelon from an “underweight” rating to a “sector weight” rating and set a $41.00 price objective on the stock in a research note on Monday, October 12th. Truist Financial decreased their target price on shares of Exelon from $48.00 to $46.00 and set a “hold” rating for the company in a research note on Friday, October 16th. Argus lowered their price target on shares of Exelon from $52.00 to $49.00 and set a “buy” rating on the stock in a report on Tuesday, September 22nd. HSBC initiated coverage on shares of Exelon in a research note on Thursday, October 22nd. They issued a “hold” rating and a $44.00 price target on the stock. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Exelon in a report on Wednesday, October 28th. Five investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $48.33.

Exelon Price Performance

Shares of EXC stock opened at $45.62 on Friday. The stock’s fifty day simple moving average is $43.04 and its 200 day simple moving average is $45.62. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.03 and a quick ratio of 0.93. The firm has a market cap of $47.21 billion, a price-to-earnings ratio of 17.75, a P/E/G ratio of 2.49 and a beta of 0.24. Exelon Corporation has a one year low of $39.73 and a one year high of $50.65.

Exelon (NASDAQ:EXC) last announced its quarterly earnings results on Friday, October 30th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. Exelon had a return on equity of 9.75% and a net margin of 10.17%. The firm had revenue of $7.32 billion for the quarter, compared to analysts’ expectations of $6.76 billion. During the same period in the prior year, the business posted $0.86 earnings per share. The business’s revenue was up 9.2% compared to the same quarter last year. On average, analysts expect that Exelon Corporation will post 2.87 earnings per share for the current fiscal year.

Exelon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Friday, December 4th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, December 4th. Exelon’s payout ratio is currently 65.37%.

Exelon Profile

Exelon is a regulated energy delivery company that operates electric and natural gas utilities. Its businesses deliver energy to homes and businesses, maintain utility infrastructure, and provide related customer services.

The company serves customers in Illinois, Pennsylvania, Maryland, Delaware, New Jersey, and the District of Columbia through utilities including ComEd, PECO, BGE, Pepco, Delmarva Power, and Atlantic City Electric. Exelon was formed in 2000 through the merger of PECO Energy and Unicom, then the parent of Commonwealth Edison.

Exelon separated its competitive power generation business, now known as Constellation Energy, in 2022.