Exelon Co. (NASDAQ:EXC) Shares Purchased by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. boosted its position in shares of Exelon Co. (NASDAQ:EXC) by 27.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,115 shares of the company’s stock after acquiring an additional 3,255 shares during the period. Pinnacle Associates Ltd.’s holdings in Exelon were worth $613,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Exelon by 16.3% during the first quarter. Vanguard Group Inc. now owns 105,310,761 shares of the company’s stock worth $3,956,525,000 after purchasing an additional 14,749,899 shares during the last quarter. Clearbridge Investments LLC grew its position in shares of Exelon by 10.5% in the 1st quarter. Clearbridge Investments LLC now owns 1,645,737 shares of the company’s stock valued at $61,830,000 after buying an additional 156,201 shares during the last quarter. Czech National Bank raised its stake in Exelon by 8.8% during the 2nd quarter. Czech National Bank now owns 190,537 shares of the company’s stock worth $6,594,000 after acquiring an additional 15,389 shares in the last quarter. Sciencast Management LP purchased a new stake in Exelon in the first quarter valued at $1,461,000. Finally, Acadian Asset Management LLC acquired a new position in Exelon in the first quarter valued at $681,000. 80.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EXC. Morgan Stanley boosted their target price on Exelon from $42.00 to $45.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Scotiabank boosted their price objective on 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 initiated coverage on shares of Exelon in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 target price on the stock. Barclays upped 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, UBS Group raised their price objective on shares of Exelon from $40.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $41.33.

Exelon Stock Down 2.9 %

Exelon stock opened at $38.15 on Friday. The stock’s 50 day moving average price is $39.66 and its 200 day moving average price is $37.73. Exelon Co. has a 1-year low of $33.35 and a 1-year high of $41.48. The company has a market cap of $38.33 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 2.84 and a beta of 0.54. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.93.

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

Exelon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, November 11th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Friday, November 8th. Exelon’s dividend payout ratio (DPR) is 62.55%.

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.