Several other analysts also recently commented on EXC. Royal Bank of Canada lowered their price objective on Exelon from $47.00 to $45.00 and set a sector perform rating for the company in a research note on Wednesday, September 6th. Guggenheim reduced their target price on Exelon from $45.00 to $41.00 in a report on Monday, October 9th. Morgan Stanley reduced their target price on Exelon from $45.00 to $42.00 and set an overweight rating for the company in a report on Wednesday, October 25th. Finally, Barclays reduced their target price on Exelon from $43.00 to $41.00 and set an overweight rating for the company in a report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $43.40.
Exelon Stock Performance
Exelon Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Wednesday, November 15th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend is Tuesday, November 14th. Exelon’s payout ratio is currently 67.29%.
Hedge Funds Weigh In On Exelon
Large investors have recently made changes to their positions in the stock. Lazard Asset Management LLC raised its position in shares of Exelon by 133.2% in the second quarter. Lazard Asset Management LLC now owns 17,371,666 shares of the company’s stock worth $707,721,000 after buying an additional 9,923,059 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Exelon in the fourth quarter worth $413,260,000. Norges Bank purchased a new stake in shares of Exelon in the fourth quarter worth $264,477,000. Deutsche Bank AG raised its position in shares of Exelon by 41.4% in the first quarter. Deutsche Bank AG now owns 17,848,474 shares of the company’s stock worth $747,673,000 after buying an additional 5,224,703 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its position in shares of Exelon by 174.5% in the first quarter. Neuberger Berman Group LLC now owns 8,084,902 shares of the company’s stock worth $338,621,000 after buying an additional 5,139,440 shares in the last quarter. 81.38% of the stock is owned by institutional investors.
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.
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