Mizuho Increases Exelon (EXC) Price Target to $49.50

Exelon (NYSE:EXC) had its target price hoisted by Mizuho from $47.00 to $49.50 in a research note published on Thursday morning, BenzingaRatingsTable reports. The firm currently has a neutral rating on the energy giant’s stock.

EXC has been the subject of several other research reports. Goldman Sachs Group upgraded shares of Exelon from a sell rating to a neutral rating and increased their target price for the company from $43.00 to $47.00 in a report on Tuesday, April 9th. Wells Fargo & Co upgraded shares of Exelon from a market perform rating to an outperform rating and increased their target price for the company from $50.00 to $57.00 in a report on Tuesday, April 2nd. Scotiabank reiterated a buy rating and issued a $50.00 target price on shares of Exelon in a report on Wednesday, February 13th. SunTrust Banks reiterated a hold rating and issued a $49.00 target price on shares of Exelon in a report on Tuesday, February 12th. Finally, Morgan Stanley increased their target price on shares of Exelon from $47.00 to $49.00 and gave the company an equal weight rating in a report on Tuesday, February 12th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Exelon presently has a consensus rating of Buy and a consensus price target of $48.97.

EXC opened at $48.98 on Thursday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.89 and a current ratio of 1.02. Exelon has a 1-year low of $39.10 and a 1-year high of $51.03. The firm has a market cap of $47.56 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 4.14 and a beta of 0.37.

Exelon (NYSE:EXC) last released its quarterly earnings data on Thursday, May 2nd. The energy giant reported $0.87 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.87. Exelon had a net margin of 6.52% and a return on equity of 8.85%. The firm had revenue of $9.48 billion for the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter in the prior year, the company posted $0.96 earnings per share. The business’s revenue was down 2.2% on a year-over-year basis. On average, equities research analysts anticipate that Exelon will post 3.13 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be issued a $0.3625 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $1.45 annualized dividend and a dividend yield of 2.96%. Exelon’s dividend payout ratio is currently 46.47%.

In related news, EVP Joseph Nigro sold 53,800 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $49.59, for a total transaction of $2,667,942.00. Following the completion of the transaction, the executive vice president now owns 99,574 shares in the company, valued at $4,937,874.66. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Paymon Aliabadi sold 17,500 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $48.36, for a total transaction of $846,300.00. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc grew its position in Exelon by 1.7% during the third quarter. Vanguard Group Inc now owns 77,314,222 shares of the energy giant’s stock valued at $3,375,540,000 after buying an additional 1,309,965 shares during the period. BlackRock Inc. grew its position in Exelon by 4.6% during the fourth quarter. BlackRock Inc. now owns 75,231,069 shares of the energy giant’s stock valued at $3,392,922,000 after buying an additional 3,305,035 shares during the period. AQR Capital Management LLC grew its position in Exelon by 37.0% during the first quarter. AQR Capital Management LLC now owns 24,339,629 shares of the energy giant’s stock valued at $1,216,738,000 after buying an additional 6,567,683 shares during the period. Oregon Public Employees Retirement Fund grew its position in Exelon by 4,439.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,185,910 shares of the energy giant’s stock valued at $514,000 after buying an additional 22,675,097 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its position in Exelon by 4.5% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 20,107,490 shares of the energy giant’s stock valued at $906,848,000 after buying an additional 868,290 shares during the period. Institutional investors own 80.23% of the company’s stock.

Exelon Company Profile

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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