GQG Partners LLC Acquires Shares of 2,448,611 Exelon Corporation (NASDAQ:EXC)

Key Points

• GQG Partners LLC acquired approximately 2.45 million shares of Exelon Corporation, valued at around $112.8 million, during the first quarter.
• Exelon reported earnings of $0.39 per share for the quarter, exceeding the consensus estimate of $0.37, with revenue of $5.43 billion.
• The company declared a quarterly dividend of $0.40 per share, representing an annualized yield of 3.6%, scheduled for payment to shareholders on September 15th.

GQG Partners LLC acquired a new stake in Exelon Corporation (NASDAQ:EXC - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 2,448,611 shares of the company's stock, valued at approximately $112,832,000. GQG Partners LLC owned approximately 0.24% of Exelon at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Edgestream Partners L.P. raised its holdings in shares of Exelon by 354.9% during the 1st quarter. Edgestream Partners L.P. now owns 193,388 shares of the company's stock worth $8,911,000 after buying an additional 150,876 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Exelon by 3.6% during the 1st quarter. Arizona State Retirement System now owns 294,857 shares of the company's stock worth $13,587,000 after buying an additional 10,176 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Exelon by 14.9% during the 1st quarter. Cerity Partners LLC now owns 485,968 shares of the company's stock worth $22,393,000 after buying an additional 63,009 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Exelon during the 1st quarter worth $6,795,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Exelon by 141.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 269,101 shares of the company's stock worth $12,400,000 after buying an additional 157,548 shares in the last quarter. 80.92% of the stock is owned by institutional investors and hedge funds.

Exelon Stock Down 0.2%

Shares of NASDAQ:EXC opened at $44.61 on Wednesday. The business's 50 day simple moving average is $43.48 and its two-hundred day simple moving average is $43.87. The firm has a market cap of $45.06 billion, a P/E ratio of 16.96, a PEG ratio of 2.62 and a beta of 0.38. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.85 and a current ratio of 0.95. Exelon Corporation has a 52-week low of $35.94 and a 52-week high of $48.11.

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

Exelon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, August 11th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Monday, August 11th. Exelon's dividend payout ratio (DPR) is currently 60.84%.

Analyst Ratings Changes

A number of equities analysts have issued reports on EXC shares. BMO Capital Markets upped their target price on Exelon from $46.00 to $50.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Wells Fargo & Company upped their target price on Exelon from $46.00 to $50.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. KeyCorp lowered their target price on Exelon from $39.00 to $37.00 and set an "underweight" rating for the company in a report on Wednesday, July 16th. Guggenheim upped their target price on Exelon from $47.00 to $50.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, UBS Group reaffirmed a "neutral" rating and issued a $48.00 target price (up previously from $47.00) on shares of Exelon in a report on Friday, July 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $47.20.

About Exelon

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.

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