Commonwealth Equity Services LLC Purchases 30,364 Shares of Exelon Corporation (NASDAQ:EXC)

Key Points

• Commonwealth Equity Services LLC has increased its position in Exelon Corporation by 9.1%, owning 362,523 shares valued at approximately $16.7 million.
• Exelon reported a quarterly earnings of $0.39 per share, exceeding estimates, with a quarterly revenue of $5.43 billion, slightly below predictions.
• The company declared a quarterly dividend of $0.40 per share, which will yield around 3.5% annually to shareholders.

Commonwealth Equity Services LLC grew its holdings in shares of Exelon Corporation (NASDAQ:EXC - Free Report) by 9.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 362,523 shares of the company's stock after buying an additional 30,364 shares during the quarter. Commonwealth Equity Services LLC's holdings in Exelon were worth $16,705,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Edgestream Partners L.P. boosted its holdings in Exelon by 354.9% during the first quarter. Edgestream Partners L.P. now owns 193,388 shares of the company's stock worth $8,911,000 after purchasing an additional 150,876 shares during the last quarter. Arizona State Retirement System boosted its holdings in Exelon by 3.6% during the first quarter. Arizona State Retirement System now owns 294,857 shares of the company's stock worth $13,587,000 after purchasing an additional 10,176 shares during the last quarter. Cerity Partners LLC boosted its holdings in Exelon by 14.9% during the first quarter. Cerity Partners LLC now owns 485,968 shares of the company's stock worth $22,393,000 after purchasing an additional 63,009 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in Exelon during the first quarter worth about $6,795,000. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Exelon by 141.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 269,101 shares of the company's stock worth $12,400,000 after purchasing an additional 157,548 shares during the last quarter. 80.92% of the stock is currently owned by institutional investors and hedge funds.

Exelon Stock Performance

Shares of NASDAQ EXC traded down $0.22 during midday trading on Friday, hitting $45.32. The company's stock had a trading volume of 3,803,099 shares, compared to its average volume of 6,082,460. The stock has a fifty day moving average price of $43.44 and a 200 day moving average price of $43.80. Exelon Corporation has a one year low of $35.94 and a one year high of $48.11. The company has a current ratio of 0.95, a quick ratio of 0.85 and a debt-to-equity ratio of 1.66. The firm has a market capitalization of $45.77 billion, a price-to-earnings ratio of 17.23, a P/E/G ratio of 2.66 and a beta of 0.38.

Exelon (NASDAQ:EXC - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02. Exelon had a net margin of 11.16% and a return on equity of 9.85%. The company had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.47 billion. During the same quarter in the previous year, the firm posted $0.47 earnings per share. The company's quarterly revenue was up 1.2% compared to the same quarter last year. On average, research analysts forecast that Exelon Corporation will post 2.64 EPS for the current fiscal year.

Exelon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, August 11th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Monday, August 11th. Exelon's dividend payout ratio is 60.84%.

Wall Street Analyst Weigh In

Several brokerages have commented on EXC. Morgan Stanley lowered their price objective on shares of Exelon from $49.00 to $48.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 22nd. KeyCorp lowered their price objective on shares of Exelon from $39.00 to $37.00 and set an "underweight" rating on the stock in a research report on Wednesday, July 16th. UBS Group reaffirmed a "neutral" rating and issued a $48.00 price objective (up previously from $47.00) on shares of Exelon in a research report on Friday, July 11th. BMO Capital Markets lifted their price objective on shares of Exelon from $46.00 to $50.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Finally, Evercore ISI lifted their price objective on shares of Exelon from $48.00 to $51.00 and gave the stock an "in-line" rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $47.20.

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.