Exelon Co. (NASDAQ:EXC) Shares Acquired by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC grew its position in Exelon Co. (NASDAQ:EXC) by 431.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 395,840 shares of the company’s stock after acquiring an additional 321,333 shares during the quarter. Exelon makes up approximately 1.8% of HITE Hedge Asset Management LLC’s holdings, making the stock its 20th largest position. HITE Hedge Asset Management LLC’s holdings in Exelon were worth $16,051,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in shares of Exelon in the 1st quarter worth $252,000. Cetera Investment Advisers boosted its holdings in shares of Exelon by 262.5% during the first quarter. Cetera Investment Advisers now owns 162,301 shares of the company’s stock worth $6,098,000 after acquiring an additional 117,532 shares during the period. Cetera Advisors LLC boosted its holdings in shares of Exelon by 33.6% during the first quarter. Cetera Advisors LLC now owns 57,114 shares of the company’s stock worth $2,146,000 after acquiring an additional 14,366 shares during the period. EverSource Wealth Advisors LLC grew its position in Exelon by 34.5% during the first quarter. EverSource Wealth Advisors LLC now owns 2,399 shares of the company’s stock worth $90,000 after buying an additional 616 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its stake in Exelon by 21.1% during the second quarter. Massmutual Trust Co. FSB ADV now owns 3,476 shares of the company’s stock worth $120,000 after purchasing an additional 605 shares during the last quarter. Institutional investors and hedge funds own 80.92% of the company’s stock.

Exelon Stock Performance

NASDAQ:EXC opened at $38.37 on Tuesday. Exelon Co. has a twelve month low of $33.35 and a twelve month high of $41.42. The company has a fifty day moving average of $39.59 and a 200-day moving average of $37.88. The firm has a market capitalization of $38.56 billion, a P/E ratio of 15.79, a P/E/G ratio of 2.82 and a beta of 0.54. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.66.

Exelon (NASDAQ:EXC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.04. The company had revenue of $6.15 billion during the quarter, compared to analysts’ expectations of $5.85 billion. Exelon had a return on equity of 9.47% and a net margin of 10.60%. Exelon’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.67 EPS. As a group, sell-side analysts anticipate that Exelon Co. will post 2.45 EPS for the current year.

Exelon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 11th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.96%. The ex-dividend date is Friday, November 8th. Exelon’s dividend payout ratio (DPR) is presently 62.55%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EXC. Scotiabank increased their price target on Exelon from $37.00 to $40.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. UBS Group boosted their price target on shares of Exelon from $40.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Morgan Stanley lowered their price target on shares of Exelon from $46.00 to $44.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Barclays boosted their price target on shares of Exelon from $41.00 to $44.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Finally, Jefferies Financial Group began coverage on shares of Exelon in a report on Thursday, September 19th. They set a “buy” rating and a $46.00 price target on the stock. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Exelon currently has a consensus rating of “Hold” and a consensus target price of $41.25.

About Exelon

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.