Capital International Investors lifted its holdings in Exelon Co. (NYSE:EXC) by 43.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,629,964 shares of the energy giant’s stock after buying an additional 7,798,866 shares during the period. Capital International Investors owned approximately 2.63% of Exelon worth $1,168,470,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. State of Michigan Retirement System grew its stake in shares of Exelon by 115.5% in the 4th quarter. State of Michigan Retirement System now owns 3,735,097 shares of the energy giant’s stock worth $170,283,000 after buying an additional 2,001,500 shares in the last quarter. Millennium Management LLC boosted its position in shares of Exelon by 583.1% during the 3rd quarter. Millennium Management LLC now owns 1,326,047 shares of the energy giant’s stock worth $64,061,000 after purchasing an additional 1,600,547 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Exelon by 12.7% during the 4th quarter. Bank of New York Mellon Corp now owns 11,695,740 shares of the energy giant’s stock worth $533,210,000 after purchasing an additional 1,319,205 shares in the last quarter. Pictet Asset Management Ltd. boosted its position in shares of Exelon by 15.1% during the 4th quarter. Pictet Asset Management Ltd. now owns 7,918,732 shares of the energy giant’s stock worth $361,015,000 after purchasing an additional 1,040,938 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Exelon by 2.8% during the 4th quarter. FMR LLC now owns 35,960,419 shares of the energy giant’s stock worth $1,639,436,000 after purchasing an additional 983,771 shares in the last quarter. Hedge funds and other institutional investors own 78.99% of the company’s stock.
Several research firms recently commented on EXC. Vertical Research began coverage on shares of Exelon in a research report on Monday, February 24th. They issued a “hold” rating and a $54.00 price objective on the stock. Citigroup lowered their price target on Exelon from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Credit Suisse Group raised their price target on Exelon from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Argus lowered their price target on Exelon from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, March 19th. Finally, Wells Fargo & Co raised their price target on Exelon from $54.00 to $59.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Exelon currently has a consensus rating of “Buy” and an average price target of $52.23.
Exelon (NYSE:EXC) last posted its quarterly earnings results on Tuesday, February 11th. The energy giant reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.10. The company had revenue of $8.34 billion during the quarter, compared to the consensus estimate of $7.24 billion. Exelon had a return on equity of 8.47% and a net margin of 6.43%. The business’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period last year, the business earned $0.58 EPS. Analysts forecast that Exelon Co. will post 3.14 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Thursday, February 20th were paid a dividend of $0.3825 per share. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $1.53 dividend on an annualized basis and a dividend yield of 4.24%. This is a positive change from Exelon’s previous quarterly dividend of $0.36. Exelon’s dividend payout ratio (DPR) is 49.04%.
Exelon Corporation, a utility services holding company, engages in energy generation and delivery businesses in the United States and Canada. It owns nuclear, fossil, wind, hydroelectric, and solar generating facilities. The company 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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