Summit Global Investments Makes New $761,000 Investment in Exelon Co. (NASDAQ:EXC)

Summit Global Investments bought a new position in Exelon Co. (NASDAQ:EXC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 16,505 shares of the company's stock, valued at approximately $761,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Exelon by 5,746.1% during the first quarter. GAMMA Investing LLC now owns 910,126 shares of the company's stock valued at $41,939,000 after purchasing an additional 894,558 shares during the last quarter. AdvisorNet Financial Inc lifted its position in Exelon by 2.3% during the first quarter. AdvisorNet Financial Inc now owns 24,646 shares of the company's stock valued at $1,136,000 after purchasing an additional 563 shares during the last quarter. Nexus Investment Management ULC lifted its position in Exelon by 15.3% during the first quarter. Nexus Investment Management ULC now owns 11,415 shares of the company's stock valued at $526,000 after purchasing an additional 1,515 shares during the last quarter. Quent Capital LLC boosted its stake in shares of Exelon by 9.2% during the 1st quarter. Quent Capital LLC now owns 5,020 shares of the company's stock worth $231,000 after purchasing an additional 421 shares during the period. Finally, Sage Capital Advisors llc purchased a new position in shares of Exelon during the 1st quarter worth about $230,000. 80.92% of the stock is owned by institutional investors.

Exelon Price Performance

Shares of EXC stock traded down $0.10 during trading hours on Wednesday, hitting $43.36. 1,741,199 shares of the company's stock were exchanged, compared to its average volume of 7,337,354. Exelon Co. has a fifty-two week low of $34.01 and a fifty-two week high of $48.11. The firm has a market cap of $43.77 billion, a P/E ratio of 17.70, a P/E/G ratio of 2.86 and a beta of 0.40. The company has a quick ratio of 0.78, a current ratio of 0.87 and a debt-to-equity ratio of 1.61. The firm has a 50 day moving average of $45.21 and a two-hundred day moving average of $42.01.

Exelon (NASDAQ:EXC - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.06. The business had revenue of $6.71 billion for the quarter, compared to analyst estimates of $6.30 billion. Exelon had a net margin of 10.68% and a return on equity of 9.52%. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.68 earnings per share. Sell-side analysts forecast that Exelon Co. will post 2.64 EPS for the current year.

Exelon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, May 12th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Monday, May 12th. Exelon's payout ratio is 59.48%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on EXC shares. Guggenheim lifted their price target on shares of Exelon from $47.00 to $50.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Scotiabank lifted their price objective on shares of Exelon from $42.00 to $44.00 and gave the company a "sector perform" rating in a report on Thursday, February 13th. UBS Group lifted their price objective on shares of Exelon from $46.00 to $48.00 and gave the stock a "neutral" rating in a research report on Monday. Morgan Stanley cut their price target on shares of Exelon from $49.00 to $48.00 and set an "equal weight" rating on the stock in a report on Thursday, May 22nd. Finally, Evercore ISI upped their target price on Exelon from $48.00 to $51.00 and gave the company an "in-line" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $47.40.

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.