Exelon Corporation $EXC Stock: M&G PLC Grows Holdings

Key Points

• M&G PLC increased its Exelon stake by 3.4% in the third quarter, adding 62,196 shares to hold about 1.88 million shares worth $75.2 million. Institutional investors collectively own 80.92% of the company.
• Exelon beat quarterly earnings and revenue expectations, reporting EPS of $0.87 and revenue of $7.32 billion; revenue grew 9.2% year over year.
• The company declared a quarterly dividend of $0.42 per share, equivalent to a 3.7% annualized yield. Analysts’ consensus rating is Hold, with a $48.33 average target price.

M&G PLC raised its stake in Exelon Corporation (NASDAQ:EXC - Free Report) by 3.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,880,664 shares of the company's stock after acquiring an additional 62,196 shares during the period. M&G PLC owned 0.18% of Exelon worth $75,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. AlphaCore Capital LLC boosted its position in shares of Exelon by 71.4% in the 3rd quarter. AlphaCore Capital LLC now owns 10,758 shares of the company's stock valued at $435,000 after purchasing an additional 4,483 shares during the period. Fulcrum Asset Management LLP grew its stake in Exelon by 3,629.5% during the 3rd quarter. Fulcrum Asset Management LLP now owns 4,550 shares of the company's stock worth $185,000 after buying an additional 4,428 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Exelon by 7.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 243,576 shares of the company's stock worth $9,858,000 after buying an additional 15,936 shares during the last quarter. StoneRidge PMG Advisors LLC acquired a new position in Exelon during the third quarter worth approximately $731,000. Finally, Carret Asset Management LLC increased its position in Exelon by 8.0% during the third quarter. Carret Asset Management LLC now owns 15,514 shares of the company's stock worth $627,000 after buying an additional 1,150 shares during the period. Hedge funds and other institutional investors own 80.92% of the company's stock.

Exelon Price Performance

Exelon stock opened at $45.65 on Tuesday. The company has a market cap of $47.24 billion, a P/E ratio of 17.76, a price-to-earnings-growth ratio of 2.52 and a beta of 0.24. Exelon Corporation has a one year low of $39.73 and a one year high of $50.65. The business has a fifty day moving average of $43.08 and a two-hundred day moving average of $45.63. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.93 and a current ratio of 1.03.

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

Exelon Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on EXC shares. Weiss Ratings reiterated a "buy (b-)" rating on shares of Exelon in a research note on Tuesday, October 6th. HSBC began coverage on shares of Exelon in a research report on Thursday, October 22nd. They set a "hold" rating and a $44.00 target price on the stock. Barclays cut their target price on shares of Exelon from $49.00 to $44.00 and set an "equal weight" rating on the stock in a report on Monday, October 19th. Argus reduced their price target on shares of Exelon from $52.00 to $49.00 and set a "buy" rating for the company in a research report on Tuesday, September 22nd. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of Exelon in a research note on Wednesday, October 28th. Five investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Exelon has a consensus rating of "Hold" and a consensus target price of $48.33.

Exelon Profile

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.

Exelon separated its competitive power generation business, now known as Constellation Energy, in 2022.

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