Patton Fund Management Inc. Sells 41,815 Shares of Exelon Corporation $EXC

Key Points

• Patton Fund Management Inc. decreased its stake in Exelon Corporation by 41.6%, owning 58,787 shares after selling 41,815 shares, which were valued at approximately $2.55 million at the end of the quarter.
• Exelon reported $0.39 earnings per share for the quarter, exceeding analysts' estimates of $0.37, with revenue of $5.43 billion compared to expectations of $5.47 billion.
• The company has declared a quarterly dividend of $0.40, resulting in an annualized dividend of $1.60 and a yield of 3.6%.

Patton Fund Management Inc. reduced its holdings in Exelon Corporation (NASDAQ:EXC - Free Report) by 41.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 58,787 shares of the company's stock after selling 41,815 shares during the quarter. Patton Fund Management Inc.'s holdings in Exelon were worth $2,553,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Ameriflex Group Inc. bought a new stake in shares of Exelon during the fourth quarter valued at approximately $25,000. Hazlett Burt & Watson Inc. boosted its position in shares of Exelon by 46.4% during the first quarter. Hazlett Burt & Watson Inc. now owns 694 shares of the company's stock valued at $32,000 after purchasing an additional 220 shares in the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in shares of Exelon during the first quarter valued at approximately $34,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Exelon during the first quarter valued at approximately $42,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Exelon during the first quarter valued at approximately $50,000. 80.92% of the stock is currently owned by institutional investors.

Exelon Stock Up 0.7%

Shares of NASDAQ:EXC opened at $44.09 on Friday. The stock has a fifty day simple moving average of $44.08 and a two-hundred day simple moving average of $44.20. The stock has a market capitalization of $44.53 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 2.57 and a beta of 0.41. Exelon Corporation has a 12-month low of $35.94 and a 12-month 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.

Exelon (NASDAQ:EXC - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.39 earnings per share (EPS) 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 analysts' expectations of $5.47 billion. During the same quarter in the previous year, the business earned $0.47 earnings per share. The firm's quarterly revenue was up 1.2% compared to the same quarter last year. Exelon has set its FY 2025 guidance at 2.640-2.740 EPS. On average, research analysts anticipate that Exelon Corporation will post 2.64 earnings per share for the current fiscal year.

Exelon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, August 11th were paid a $0.40 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.60 annualized dividend and a dividend yield of 3.6%. Exelon's payout ratio is currently 60.84%.

Analyst Ratings Changes

EXC has been the topic of several research reports. UBS Group restated a "neutral" rating and set a $48.00 price target (up from $47.00) on shares of Exelon in a research report on Friday, July 11th. KeyCorp lowered their price objective 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, Morgan Stanley lowered their price objective on Exelon from $50.00 to $49.00 and set an "equal weight" rating for the company in a research note on Thursday. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $47.44.

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.

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