LPL Financial LLC Has $17.11 Million Stake in Exelon Corporation (NASDAQ:EXC)

Key Points

• LPL Financial LLC has increased its stake in Exelon Corporation by 5.3%, bringing its total holdings to 371,350 shares worth approximately $17.1 million.
• Exelon has announced a quarterly dividend of $0.40 per share, with a yield of 3.6%, payable on September 15, 2023.
• Recent analyst ratings for Exelon include a "neutral" rating from UBS and upgraded price targets up to $50.00 from firms like Guggenheim and Wells Fargo.

LPL Financial LLC raised its holdings in Exelon Corporation (NASDAQ:EXC - Free Report) by 5.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 371,350 shares of the company's stock after buying an additional 18,646 shares during the period. LPL Financial LLC's holdings in Exelon were worth $17,112,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Edgestream Partners L.P. raised its stake in Exelon by 354.9% in the 1st 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 in the last quarter. Arizona State Retirement System increased its stake in 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 acquiring an additional 10,176 shares during the period. Cerity Partners LLC raised its holdings in Exelon by 14.9% in the 1st quarter. Cerity Partners LLC now owns 485,968 shares of the company's stock valued at $22,393,000 after acquiring an additional 63,009 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in Exelon in the 1st quarter valued at $6,795,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position 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 valued at $12,400,000 after acquiring an additional 157,548 shares during the period. 80.92% of the stock is owned by institutional investors and hedge funds.

Exelon Trading Up 1.1%

Shares of NASDAQ:EXC traded up $0.48 during midday trading on Thursday, reaching $45.54. 7,453,353 shares of the company's stock were exchanged, compared to its average volume of 7,467,155. The stock has a market cap of $45.99 billion, a price-to-earnings ratio of 17.32, a P/E/G ratio of 2.62 and a beta of 0.38. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.95 and a quick ratio of 0.85. Exelon Corporation has a fifty-two week low of $35.94 and a fifty-two week high of $48.11. The firm's 50 day simple moving average is $43.37 and its two-hundred day simple moving average is $43.69.

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

Exelon Announces Dividend

The business 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. The ex-dividend date of this dividend is Monday, August 11th. This represents a $1.60 annualized dividend and a yield of 3.5%. Exelon's dividend payout ratio (DPR) is currently 60.84%.

Wall Street Analysts Forecast Growth

EXC has been the subject of several analyst reports. Wells Fargo & Company raised their price target on shares of Exelon from $46.00 to $50.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Morgan Stanley dropped their price target 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. BMO Capital Markets increased 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. Evercore ISI boosted their target price on shares of Exelon from $48.00 to $51.00 and gave the company an "in-line" rating in a report on Friday, May 2nd. Finally, Guggenheim upped their price target on shares of Exelon from $47.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. 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.com, Exelon currently has a consensus rating of "Hold" and an average price target 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.