Covington Investment Advisors Inc. Acquires Shares of 48,706 Exelon Corporation $EXC

Key Points

• Covington Investment Advisors acquired 48,706 Exelon shares worth approximately $2.27 million during the second quarter. Institutional investors collectively own 80.92% of Exelon.
• Analysts remain cautious: Exelon has a consensus “Hold” rating, with an average price target of $50.07 after several firms reduced their targets.
• Exelon reported quarterly revenue of $5.97 billion, up 10% year over year, but earnings of $0.43 per share narrowly missed estimates. The company also declared a $0.42 quarterly dividend, representing a 3.8% annualized yield.

Covington Investment Advisors Inc. acquired a new stake in Exelon Corporation (NASDAQ:EXC - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 48,706 shares of the company's stock, valued at approximately $2,271,000.

A number of other hedge funds have also recently modified their holdings of EXC. Caxton Associates LLP purchased a new position in Exelon during the first quarter valued at approximately $286,000. Woodline Partners LP lifted its holdings in Exelon by 40.7% in the first quarter. Woodline Partners LP now owns 84,925 shares of the company's stock valued at $3,913,000 after acquiring an additional 24,580 shares during the period. Jump Financial LLC purchased a new stake in Exelon in the 2nd quarter worth approximately $2,448,000. Gamco Investors INC. ET AL purchased a new stake in Exelon in the 2nd quarter worth approximately $645,000. Finally, Treasurer of the State of North Carolina grew its stake in shares of Exelon by 3.1% during the 2nd quarter. Treasurer of the State of North Carolina now owns 472,175 shares of the company's stock worth $20,502,000 after purchasing an additional 14,240 shares during the period. Hedge funds and other institutional investors own 80.92% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. TD Cowen cut their target price on shares of Exelon from $51.00 to $49.00 and set a "hold" rating for the company in a report on Friday, May 15th. Morgan Stanley lowered their price target on shares of Exelon from $55.00 to $53.00 and set an "equal weight" rating on the stock in a report on Friday. Truist Financial dropped their price target on shares of Exelon from $50.00 to $48.00 and set a "hold" rating on the stock in a research report on Thursday, August 13th. KeyCorp cut their price objective on shares of Exelon from $43.00 to $41.00 and set an "underweight" rating for the company in a report on Wednesday, May 13th. Finally, Weiss Ratings downgraded shares of Exelon from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, July 9th. Four investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $50.07.

Exelon Price Performance

Shares of EXC opened at $43.78 on Monday. The firm has a market cap of $45.19 billion, a P/E ratio of 16.04, a PEG ratio of 2.65 and a beta of 0.31. Exelon Corporation has a 12 month low of $42.58 and a 12 month high of $50.65. The stock's 50 day moving average is $46.25 and its two-hundred day moving average is $46.70. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 1.71.

Exelon (NASDAQ:EXC - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.01). Exelon had a return on equity of 9.81% and a net margin of 10.99%.The business had revenue of $5.97 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same period in the previous year, the company earned $0.39 earnings per share. The company's quarterly revenue was up 10.0% compared to the same quarter last year. Exelon has set its FY 2026 guidance at 2.810-2.910 EPS. Analysts predict that Exelon Corporation will post 2.86 earnings per share for the current fiscal year.

Exelon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, September 4th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, September 4th. This represents a $1.68 dividend on an annualized basis and a yield of 3.8%. Exelon's dividend payout ratio is currently 61.54%.

About Exelon

Exelon Corporation NASDAQ: EXC is a Chicago-based energy company that operates primarily as a regulated electric and natural gas utility holding company. The company's businesses focus on the delivery of electricity and related services to residential, commercial and industrial customers, as well as investments in grid modernization, customer energy solutions and demand-side programs. Exelon's operations emphasize reliable service delivery, infrastructure maintenance and regulatory compliance across its utility footprint.

Formed in 2000 through the merger of Unicom and PECO Energy, Exelon historically combined generation and regulated utility businesses.

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