Morgan Stanley reduced its position in Exelon Co. (NYSE:EXC) by 60.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,005,689 shares of the energy giant’s stock after selling 4,562,402 shares during the quarter. Morgan Stanley owned approximately 0.31% of Exelon worth $128,042,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Mariner LLC bought a new stake in Exelon in the first quarter valued at about $323,000. BlackRock Inc. increased its holdings in Exelon by 1.0% in the second quarter. BlackRock Inc. now owns 71,949,812 shares of the energy giant’s stock valued at $3,065,064,000 after buying an additional 721,483 shares during the last quarter. Unigestion Holding SA bought a new stake in Exelon in the second quarter valued at about $25,824,000. Riverhead Capital Management LLC increased its holdings in Exelon by 35.1% in the second quarter. Riverhead Capital Management LLC now owns 281,075 shares of the energy giant’s stock valued at $11,974,000 after buying an additional 73,034 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in Exelon in the second quarter valued at about $1,846,000. 78.58% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE EXC opened at $43.24 on Thursday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.19 and a quick ratio of 1.03. The company has a market cap of $42.69 billion, a PE ratio of 14.40, a price-to-earnings-growth ratio of 2.51 and a beta of 0.21. Exelon Co. has a 12-month low of $35.57 and a 12-month high of $45.05.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 10th. Stockholders of record on Wednesday, August 15th were given a dividend of $0.345 per share. The ex-dividend date was Tuesday, August 14th. This represents a $1.38 annualized dividend and a dividend yield of 3.19%. Exelon’s dividend payout ratio is presently 53.08%.
A number of equities analysts have commented on the company. Scotiabank restated a “sector outperform” rating on shares of Exelon in a research note on Wednesday, July 25th. Zacks Investment Research downgraded Exelon from a “buy” rating to a “hold” rating in a research note on Monday, July 23rd. Howard Weil assumed coverage on Exelon in a research note on Tuesday, July 24th. They issued a “sector outperform” rating and a $47.00 target price for the company. Barclays assumed coverage on Exelon in a research note on Tuesday, July 10th. They issued an “equal weight” rating and a $46.00 target price for the company. Finally, Wells Fargo & Co lifted their target price on Exelon from $44.00 to $46.00 and gave the company a “market perform” rating in a research note on Monday. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $44.29.
Exelon Corporation, a utility services holding company, engages in energy generation and delivery businesses in the United States and Canada. The company owns electric generating facilities, such as nuclear, fossil, wind, hydroelectric, and solar generating facilities. It also sells electricity to wholesale and retail customers; and sells natural gas, renewable energy, and other energy-related products and services.
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