Exelon Corporation $EXC Shares Purchased by Letko Brosseau & Associates Inc.

Key Points

• Letko Brosseau & Associates nearly doubled its Exelon stake in the third quarter, adding 880,495 shares to own about 1.77 million shares valued at $71.6 million. Institutional investors collectively hold 80.92% of the company.
• Exelon reported quarterly EPS of $0.87, beating the $0.79 consensus, and revenue of $7.32 billion, up 9.2% year over year.
• The company declared a quarterly dividend of $0.42 per share, equivalent to a 3.7% yield. Analysts’ consensus rating was Hold, with an average price target of $48.33.

Letko Brosseau & Associates Inc. lifted its position in Exelon Corporation (NASDAQ:EXC - Free Report) by 98.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,771,595 shares of the company's stock after purchasing an additional 880,495 shares during the quarter. Letko Brosseau & Associates Inc. owned 0.17% of Exelon worth $71,572,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Exelon in the 2nd quarter valued at approximately $5,583,709,000. GQG Partners LLC acquired a new position in Exelon in the 2nd quarter worth $922,917,000. Legal & General Group Plc acquired a new position in Exelon during the 2nd quarter worth approximately $602,760,000. Bank of New York Mellon Corp acquired a new position in Exelon during the second quarter worth $580,842,000. Finally, Deutsche Bank AG bought a new position in shares of Exelon in the 2nd quarter valued at about $567,510,000. 80.92% of the stock is owned by institutional investors.

Exelon Trading Up 0.0%

NASDAQ EXC opened at $45.63 on Friday. The business has a 50 day simple moving average of $43.18 and a 200 day simple moving average of $45.64. Exelon Corporation has a one year low of $39.73 and a one year high of $50.65. The stock has a market capitalization of $47.22 billion, a P/E ratio of 17.75, a P/E/G ratio of 2.49 and a beta of 0.24. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.03 and a quick ratio of 0.93.

Exelon (NASDAQ:EXC - Get Free Report) last issued its earnings results on Friday, October 30th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.08. The business had revenue of $7.32 billion for the quarter, compared to analyst estimates of $6.76 billion. Exelon had a net margin of 10.17% and a return on equity of 9.75%. Exelon's revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 earnings per share. Research analysts expect that Exelon Corporation will post 2.87 earnings per share for the current year.

Exelon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Friday, December 4th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, December 4th. Exelon's dividend payout ratio is 65.37%.

Analysts Set New Price Targets

A number of equities analysts recently commented on EXC shares. JPMorgan Chase & Co. reduced their price target on Exelon from $47.00 to $46.00 and set a "neutral" rating for the company in a report on Monday, October 19th. KeyCorp upgraded Exelon from an "underweight" rating to a "sector weight" rating and set a $41.00 price target for the company in a research note on Monday, October 12th. HSBC began coverage on Exelon in a research report on Thursday, October 22nd. They set a "hold" rating and a $44.00 price objective for the company. Argus decreased their target price on shares of Exelon from $52.00 to $49.00 and set a "buy" rating on the stock in a research note on Tuesday, September 22nd. Finally, Morgan Stanley cut their price target on Exelon from $50.00 to $49.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 21st. Five equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $48.33.

About Exelon

Exelon is a regulated energy delivery company that operates electric and natural gas utilities. Its businesses deliver energy to homes and businesses, maintain utility infrastructure, and provide related customer services. The company serves customers in Illinois, Pennsylvania, Maryland, Delaware, New Jersey, and the District of Columbia through utilities including ComEd, PECO, BGE, Pepco, Delmarva Power, and Atlantic City Electric. Exelon was formed in 2000 through the merger of PECO Energy and Unicom, then the parent of Commonwealth Edison.

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