Pinnacle Associates Ltd. Trims Stock Position in Exelon Co. (NASDAQ:EXC)

Pinnacle Associates Ltd. lessened its holdings in Exelon Co. (NASDAQ:EXCFree Report) by 8.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,115 shares of the company’s stock after selling 1,397 shares during the period. Pinnacle Associates Ltd.’s holdings in Exelon were worth $543,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of EXC. Pacer Advisors Inc. lifted its stake in shares of Exelon by 85.7% during the fourth quarter. Pacer Advisors Inc. now owns 192,063 shares of the company’s stock valued at $6,895,000 after buying an additional 88,614 shares during the period. Raymond James & Associates lifted its stake in shares of Exelon by 24.4% during the fourth quarter. Raymond James & Associates now owns 464,064 shares of the company’s stock valued at $16,660,000 after buying an additional 91,088 shares during the period. Invesco Ltd. lifted its stake in shares of Exelon by 12.2% during the third quarter. Invesco Ltd. now owns 10,069,810 shares of the company’s stock valued at $380,538,000 after buying an additional 1,092,736 shares during the period. Duality Advisers LP purchased a new position in shares of Exelon during the third quarter valued at approximately $1,418,000. Finally, Ausbil Investment Management Ltd lifted its stake in shares of Exelon by 79.9% during the fourth quarter. Ausbil Investment Management Ltd now owns 178,307 shares of the company’s stock valued at $6,401,000 after buying an additional 79,166 shares during the period. Hedge funds and other institutional investors own 80.92% of the company’s stock.

Wall Street Analysts Forecast Growth

EXC has been the topic of several recent analyst reports. Guggenheim downgraded shares of Exelon from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $44.00 to $40.00 in a research note on Friday, December 15th. Evercore ISI downgraded shares of Exelon from an “outperform” rating to an “in-line” rating in a research note on Friday, December 15th. Wells Fargo & Company cut their price target on shares of Exelon from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 22nd. Seaport Res Ptn downgraded shares of Exelon from a “buy” rating to a “neutral” rating in a research note on Monday, January 8th. Finally, UBS Group downgraded shares of Exelon from a “buy” rating to a “neutral” rating and cut their price target for the stock from $47.00 to $37.00 in a research note on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $39.09.

Check Out Our Latest Stock Analysis on EXC

Exelon Stock Performance

Shares of EXC stock opened at $37.21 on Thursday. The company’s fifty day simple moving average is $35.84 and its 200-day simple moving average is $37.31. Exelon Co. has a 52 week low of $33.35 and a 52 week high of $43.71. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.56. The company has a market cap of $37.19 billion, a PE ratio of 15.97, a P/E/G ratio of 2.71 and a beta of 0.54.

Exelon (NASDAQ:EXCGet Free Report) last issued its earnings results on Wednesday, February 21st. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $3.87 billion. Exelon had a net margin of 10.72% and a return on equity of 9.40%. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.43 EPS. As a group, equities research analysts anticipate that Exelon Co. will post 2.41 EPS for the current year.

Exelon Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.08%. This is a positive change from Exelon’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Friday, March 1st. Exelon’s dividend payout ratio (DPR) is presently 65.24%.

Exelon Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Exelon (NASDAQ:EXC)

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