Morgan Stanley Boosts Exelon (NASDAQ:EXC) Price Target to $45.00

Exelon (NASDAQ:EXC) had its price target raised by Morgan Stanley from $42.00 to $45.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has an equal weight rating on the stock.

EXC has been the subject of several other reports. Barclays increased their target price on Exelon from $39.00 to $41.00 and gave the company an overweight rating in a report on Monday, July 22nd. UBS Group increased their price objective on Exelon from $40.00 to $43.00 and gave the stock a neutral rating in a report on Friday, September 20th. Jefferies Financial Group started coverage on Exelon in a report on Thursday, September 19th. They issued a buy rating and a $46.00 price objective for the company. Wells Fargo & Company increased their price objective on Exelon from $40.00 to $42.00 and gave the stock an equal weight rating in a report on Friday, August 2nd. Finally, Scotiabank increased their price objective on Exelon from $37.00 to $40.00 and gave the stock a sector perform rating in a report on Tuesday, August 20th. Eleven analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $41.08.

Exelon Trading Up 1.1 %

Shares of EXC stock opened at $40.38 on Wednesday. The stock has a market capitalization of $40.38 billion, a PE ratio of 17.41, a P/E/G ratio of 2.92 and a beta of 0.53. Exelon has a 1-year low of $33.35 and a 1-year high of $41.48. The business has a 50-day moving average of $38.25 and a 200 day moving average of $37.17. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.03 and a quick ratio of 0.93.

Exelon (NASDAQ:EXC) last issued its earnings results on Thursday, August 1st. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.07. The company had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $4.98 billion. Exelon had a return on equity of 9.40% and a net margin of 10.65%. During the same period in the prior year, the business posted $0.41 EPS. As a group, sell-side analysts anticipate that Exelon will post 2.45 earnings per share for the current year.

Exelon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Monday, August 12th were paid a $0.38 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.76%. Exelon’s dividend payout ratio is currently 65.52%.

Hedge Funds Weigh In On Exelon

A number of hedge funds have recently bought and sold shares of EXC. Sanctuary Advisors LLC purchased a new position in Exelon in the second quarter worth about $1,215,000. Strategic Investment Solutions Inc. IL purchased a new position in Exelon in the 2nd quarter worth approximately $57,000. Granite Bay Wealth Management LLC purchased a new stake in Exelon during the 2nd quarter valued at $698,000. Quarry LP increased its holdings in shares of Exelon by 649.7% in the 2nd quarter. Quarry LP now owns 5,263 shares of the company’s stock worth $182,000 after purchasing an additional 4,561 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of Exelon by 1.5% in the second quarter. NewEdge Advisors LLC now owns 31,654 shares of the company’s stock worth $1,096,000 after purchasing an additional 455 shares during the last quarter. Institutional investors own 80.92% of the company’s stock.

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.