Granite Bay Wealth Management LLC Invests $698,000 in Exelon Co. (NASDAQ:EXC)

Granite Bay Wealth Management LLC bought a new position in Exelon Co. (NASDAQ:EXC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 18,900 shares of the company’s stock, valued at approximately $698,000.

Several other hedge funds have also recently modified their holdings of EXC. Quarry LP raised its stake in Exelon by 649.7% during the second quarter. Quarry LP now owns 5,263 shares of the company’s stock valued at $182,000 after purchasing an additional 4,561 shares in the last quarter. NewEdge Advisors LLC raised its stake in Exelon by 1.5% during the second quarter. NewEdge Advisors LLC now owns 31,654 shares of the company’s stock valued at $1,096,000 after purchasing an additional 455 shares in the last quarter. Aviso Wealth Management raised its stake in Exelon by 42.6% during the second quarter. Aviso Wealth Management now owns 9,269 shares of the company’s stock valued at $321,000 after purchasing an additional 2,770 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Exelon by 5.9% during the second quarter. The Manufacturers Life Insurance Company now owns 1,127,973 shares of the company’s stock valued at $39,039,000 after purchasing an additional 62,364 shares in the last quarter. Finally, MBB Public Markets I LLC purchased a new stake in Exelon during the second quarter valued at $2,489,000. Hedge funds and other institutional investors own 80.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on EXC shares. Scotiabank upped their price target on shares of Exelon from $37.00 to $40.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Jefferies Financial Group started coverage on shares of Exelon in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 price objective on the stock. Wells Fargo & Company boosted their price objective on shares of Exelon from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. UBS Group boosted their price objective 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. Finally, Morgan Stanley boosted their price objective on shares of Exelon from $42.00 to $45.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Eleven analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $41.08.

Exelon Stock Up 0.5 %

Shares of Exelon stock opened at $40.77 on Wednesday. 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 Co. has a 1 year low of $33.35 and a 1 year high of $41.48. The firm’s 50-day moving average is $38.43 and its two-hundred day moving average is $37.23. The stock has a market cap of $40.79 billion, a price-to-earnings ratio of 17.57, a PEG ratio of 2.89 and a beta of 0.53.

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

Exelon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Monday, August 12th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend was Monday, August 12th. Exelon’s payout ratio is 65.52%.

Exelon Profile

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.