Exelon Corporation (EXC) Raised to “Outperform” at Wolfe Research

Wolfe Research upgraded shares of Exelon Corporation (NYSE:EXC) from a market perform rating to an outperform rating in a research report report published on Monday.

EXC has been the topic of several other research reports. Morgan Stanley cut shares of Exelon Corporation from an overweight rating to an equal weight rating and cut their price target for the company from $40.00 to $37.00 in a report on Tuesday, March 28th. They noted that the move was a valuation call. Jefferies Group LLC reiterated a buy rating and issued a $39.50 price target on shares of Exelon Corporation in a report on Thursday, April 20th. Citigroup Inc. lifted their price target on shares of Exelon Corporation from $31.00 to $35.00 and gave the company a neutral rating in a report on Monday, April 3rd. Barclays PLC reiterated an overweight rating and issued a $43.00 price target (up previously from $40.00) on shares of Exelon Corporation in a report on Sunday, April 23rd. Finally, ValuEngine cut shares of Exelon Corporation from a buy rating to a hold rating in a report on Saturday, June 3rd. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Exelon Corporation has an average rating of Buy and a consensus price target of $39.07.

Exelon Corporation (EXC) opened at 37.39 on Monday. The company’s 50-day moving average is $36.44 and its 200 day moving average is $35.74. The company has a market capitalization of $34.63 billion, a price-to-earnings ratio of 17.80 and a beta of 0.26. Exelon Corporation has a 52 week low of $29.82 and a 52 week high of $37.70.

Exelon Corporation (NYSE:EXC) last released its quarterly earnings results on Wednesday, May 3rd. The energy giant reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.03. The business had revenue of $8.76 billion for the quarter, compared to analysts’ expectations of $8.69 billion. Exelon Corporation had a net margin of 6.10% and a return on equity of 9.00%. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.68 earnings per share. On average, analysts forecast that Exelon Corporation will post $2.67 EPS for the current fiscal year.

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In other news, Director John W. Rogers, Jr. purchased 3,000 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The shares were bought at an average price of $33.57 per share, for a total transaction of $100,710.00. Following the purchase, the director now directly owns 14,374 shares in the company, valued at approximately $482,535.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Paymon Aliabadi sold 13,333 shares of the company’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $37.05, for a total transaction of $493,987.65. Following the completion of the transaction, the executive vice president now owns 53,102 shares in the company, valued at approximately $1,967,429.10. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

A number of institutional investors have recently made changes to their positions in EXC. Quadrature Capital Ltd purchased a new position in shares of Exelon Corporation during the fourth quarter worth about $12,367,000. Wealthfront Inc. boosted its position in shares of Exelon Corporation by 7.7% in the fourth quarter. Wealthfront Inc. now owns 28,754 shares of the energy giant’s stock worth $1,020,000 after buying an additional 2,062 shares during the last quarter. HighPoint Advisor Group LLC boosted its position in shares of Exelon Corporation by 3.5% in the fourth quarter. HighPoint Advisor Group LLC now owns 47,543 shares of the energy giant’s stock worth $1,715,000 after buying an additional 1,614 shares during the last quarter. Teachers Advisors LLC boosted its position in shares of Exelon Corporation by 3.0% in the fourth quarter. Teachers Advisors LLC now owns 1,731,710 shares of the energy giant’s stock worth $61,458,000 after buying an additional 49,671 shares during the last quarter. Finally, Kentucky Retirement Systems purchased a new position in shares of Exelon Corporation during the fourth quarter worth about $2,378,000. Institutional investors own 74.91% of the company’s stock.

About Exelon Corporation

Exelon Corporation is a utility services holding company. The Company, through its subsidiary, Exelon Generation Company, LLC (Generation), is engaged in the energy generation business. The Company, through its subsidiaries, Commonwealth Edison Company (ComEd), PECO Energy Company (PECO), Baltimore Gas and Electric Company (BGE), Pepco Holdings LLC (PHI), Potomac Electric Power Company (Pepco), Delmarva Power & Light Company (DPL) and Atlantic City Electric Company (ACE), is engaged in the energy delivery businesses.

Analyst Recommendations for Exelon Corporation (NYSE:EXC)

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