Nuveen LLC Makes New Investment in Exelon Corporation (NASDAQ:EXC)

Key Points

• Nuveen LLC purchased 6,194,179 shares of Exelon Corporation, valued at approximately $285 million, representing about 0.61% of the company's stock.
• Exelon declared a quarterly dividend of $0.40 per share, resulting in an annualized dividend yield of 3.5%.
• Analyst opinions are mixed, with ratings ranging from "underweight" to "buy," and an average target price of $47.20 for Exelon shares.

Nuveen LLC acquired a new stake in Exelon Corporation (NASDAQ:EXC - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 6,194,179 shares of the company's stock, valued at approximately $285,428,000. Nuveen LLC owned about 0.61% of Exelon at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Exelon by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 127,917,037 shares of the company's stock worth $5,894,417,000 after purchasing an additional 581,686 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Exelon by 37.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,618,055 shares of the company's stock worth $1,039,545,000 after acquiring an additional 7,483,873 shares during the period. Lazard Asset Management LLC increased its holdings in shares of Exelon by 2.7% in the fourth quarter. Lazard Asset Management LLC now owns 24,662,037 shares of the company's stock worth $928,277,000 after purchasing an additional 653,627 shares during the period. Deutsche Bank AG grew its position in Exelon by 11.6% during the first quarter. Deutsche Bank AG now owns 19,077,520 shares of the company's stock worth $879,092,000 after buying an additional 1,988,212 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Exelon by 0.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 15,837,173 shares of the company's stock worth $729,777,000 after purchasing an additional 106,917 shares during the last quarter. 80.92% of the stock is owned by institutional investors.

Exelon Stock Down 1.3%

EXC stock traded down $0.60 during trading on Thursday, reaching $44.63. The stock had a trading volume of 5,822,315 shares, compared to its average volume of 7,388,679. 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 fifty day moving average price of $43.53 and a 200 day moving average price of $43.88. Exelon Corporation has a 1-year low of $35.94 and a 1-year high of $48.11. The company has a market capitalization of $45.08 billion, a P/E ratio of 16.97, a PEG ratio of 2.62 and a beta of 0.38.

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

Exelon Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently commented on EXC. Evercore ISI lifted their price objective on Exelon from $48.00 to $51.00 and gave the stock an "in-line" rating in a report on Friday, May 2nd. Guggenheim upped their price objective on Exelon from $47.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Morgan Stanley reduced their price target on shares of Exelon from $49.00 to $48.00 and set an "equal weight" rating for the company in a research report on Thursday, May 22nd. KeyCorp dropped their price target on Exelon from $39.00 to $37.00 and set an "underweight" rating for the company in a research note on Wednesday, July 16th. Finally, UBS Group reiterated a "neutral" rating and issued a $48.00 price target (up from $47.00) on shares of Exelon in a report on Friday, July 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Exelon presently has an average rating of "Hold" and a consensus 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.