Exelon Corporation (NASDAQ:EXC) Shares Acquired by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp significantly increased its holdings in Exelon Corporation by 190.5%, owning approximately $31.63 million worth of the company after purchasing 450,141 shares in the 1st quarter.
• Wall Street analysts have issued varying target prices for Exelon, with a consensus average price target of $47.20 and an average rating of "Hold" based on recent reports.
• Exelon announced a quarterly dividend of $0.40 per share, representing a yield of 3.61%, which will be paid to shareholders on September 15th.

Mackenzie Financial Corp raised its stake in Exelon Corporation (NASDAQ:EXC - Free Report) by 190.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 686,395 shares of the company's stock after purchasing an additional 450,141 shares during the period. Mackenzie Financial Corp owned 0.07% of Exelon worth $31,629,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its holdings in Exelon by 37.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,618,055 shares of the company's stock valued at $1,039,545,000 after acquiring an additional 7,483,873 shares during the period. FMR LLC raised its stake in shares of Exelon by 46.9% during the 4th quarter. FMR LLC now owns 17,306,652 shares of the company's stock worth $651,422,000 after buying an additional 5,524,103 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Exelon by 43.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,846,030 shares of the company's stock worth $483,525,000 after buying an additional 3,878,687 shares during the last quarter. Invesco Ltd. raised its stake in shares of Exelon by 25.8% during the 4th quarter. Invesco Ltd. now owns 13,718,745 shares of the company's stock worth $516,374,000 after buying an additional 2,817,174 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Exelon by 125.6% during the 4th quarter. Royal Bank of Canada now owns 3,838,729 shares of the company's stock worth $144,489,000 after buying an additional 2,137,439 shares during the last quarter. 80.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on EXC. BMO Capital Markets lifted their price objective on Exelon from $46.00 to $50.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Evercore ISI lifted their price objective on Exelon from $48.00 to $51.00 and gave the stock an "in-line" rating in a research report on Friday, May 2nd. Morgan Stanley dropped their price objective on Exelon from $49.00 to $48.00 and set an "equal weight" rating for the company in a research report on Thursday, May 22nd. Wells Fargo & Company lifted their price target on Exelon from $46.00 to $50.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Finally, UBS Group restated a "neutral" rating and issued a $48.00 price target (up previously from $47.00) on shares of Exelon in a report on Friday, July 11th. One 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's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $47.20.

Exelon Stock Down 0.6%

Shares of EXC traded down $0.27 during trading on Friday, reaching $44.67. The company's stock had a trading volume of 9,211,262 shares, compared to its average volume of 5,201,512. The company has a fifty day moving average of $43.27 and a two-hundred day moving average of $43.52. Exelon Corporation has a twelve month low of $35.94 and a twelve month high of $48.11. The company has a market cap of $45.10 billion, a price-to-earnings ratio of 16.98, a P/E/G ratio of 2.63 and a beta of 0.38. The company has a quick ratio of 0.98, a current ratio of 0.95 and a debt-to-equity ratio of 1.66.

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

Exelon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, August 11th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a $1.60 annualized dividend and a dividend yield of 3.6%. Exelon's dividend payout ratio is presently 59.48%.

Exelon 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.