KeyCorp Cuts Exelon (NASDAQ:EXC) Price Target to $37.00

Exelon (NASDAQ:EXC) had its target price decreased by KeyCorp from $39.00 to $37.00 in a research note released on Wednesday morning,Benzinga reports. KeyCorp currently has an underweight rating on the stock.

Other research analysts also recently issued reports about the company. Evercore ISI lifted their target price on Exelon from $48.00 to $51.00 and gave the stock an “in-line” rating in a research note on Friday, May 2nd. Morgan Stanley reduced their target price on Exelon from $49.00 to $48.00 and set an “equal weight” rating for the company in a research note on Thursday, May 22nd. UBS Group restated a “neutral” rating and issued a $48.00 price target (up from $47.00) on shares of Exelon in a research note on Friday, July 11th. Wells Fargo & Company boosted their price target on Exelon from $46.00 to $50.00 and gave the company an “equal weight” rating in a research note on Friday, May 2nd. Finally, BMO Capital Markets boosted their price target on Exelon from $46.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $47.20.

Exelon Stock Performance

Shares of NASDAQ EXC opened at $43.40 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 0.98 and a debt-to-equity ratio of 1.66. Exelon has a 12 month low of $35.84 and a 12 month high of $48.11. The stock has a 50 day moving average of $43.19 and a 200-day moving average of $43.13. The company has a market capitalization of $43.81 billion, a P/E ratio of 16.13, a P/E/G ratio of 2.51 and a beta of 0.39.

Exelon (NASDAQ:EXC) last issued its earnings results on Thursday, May 1st. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.86 by $0.06. Exelon had a return on equity of 10.29% and a net margin of 11.44%. The company had revenue of $6.71 billion during the quarter, compared to the consensus estimate of $6.30 billion. During the same period in the previous year, the company posted $0.68 EPS. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, equities research analysts predict that Exelon will post 2.64 EPS for the current year.

Exelon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Monday, May 12th were paid a $0.40 dividend. The ex-dividend date was Monday, May 12th. This represents a $1.60 annualized dividend and a yield of 3.69%. Exelon’s dividend payout ratio (DPR) is presently 59.48%.

Hedge Funds Weigh In On Exelon

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EXC. Ameriflex Group Inc. acquired a new position in Exelon in the 4th quarter valued at $25,000. Millstone Evans Group LLC acquired a new position in Exelon in the 4th quarter valued at $28,000. Hazlett Burt & Watson Inc. raised its holdings in Exelon by 46.4% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 694 shares of the company’s stock valued at $32,000 after acquiring an additional 220 shares in the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in Exelon in the 1st quarter valued at $34,000. Finally, Investment Research & Advisory Group Inc. acquired a new position in Exelon in the 2nd quarter valued at $39,000. 80.92% of the stock is owned by institutional investors and hedge funds.

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.