Exchange Traded Concepts LLC Buys Shares of 9,035 Exelon Co. (NASDAQ:EXC)

Exchange Traded Concepts LLC purchased a new position in Exelon Co. (NASDAQ:EXC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,035 shares of the company’s stock, valued at approximately $366,000.

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Exelon from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. UBS Group upped their target price on shares of Exelon from $40.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Morgan Stanley increased their price target on Exelon from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Jefferies Financial Group assumed coverage on Exelon in a research note on Thursday, September 19th. They issued a “buy” rating and a $46.00 price objective for the company. Finally, Scotiabank lifted their target price on Exelon from $37.00 to $40.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Eleven investment 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 stock presently has an average rating of “Hold” and a consensus price target of $41.33.

Exelon Price Performance

Exelon stock opened at $40.95 on Friday. Exelon Co. has a 52-week low of $33.35 and a 52-week high of $41.48. The company has a quick ratio of 0.93, a current ratio of 1.03 and a debt-to-equity ratio of 1.66. The firm’s fifty day moving average is $39.17 and its 200 day moving average is $37.52. The company has a market cap of $40.97 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 2.89 and a beta of 0.53.

Exelon (NASDAQ:EXC) last announced its earnings results on Thursday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.07. The firm had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $4.98 billion. Exelon had a net margin of 10.65% and a return on equity of 9.40%. During the same period in the prior year, the company earned $0.41 EPS. Sell-side analysts forecast that Exelon Co. will post 2.45 EPS for the current fiscal 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 issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend was Monday, August 12th. 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.