Moors & Cabot Inc. Reduces Stock Position in Exelon Co. (NASDAQ:EXC)

Moors & Cabot Inc. trimmed its position in Exelon Co. (NASDAQ:EXC) by 11.8% during the third quarter, Holdings Channel.com reports. The firm owned 5,731 shares of the company’s stock after selling 766 shares during the period. Moors & Cabot Inc.’s holdings in Exelon were worth $232,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. MTM Investment Management LLC purchased a new stake in shares of Exelon in the third quarter valued at $224,000. Jennison Associates LLC grew its holdings in Exelon by 44.0% in the 3rd quarter. Jennison Associates LLC now owns 1,830,435 shares of the company’s stock valued at $74,224,000 after buying an additional 558,977 shares during the period. Commerce Bank increased its stake in shares of Exelon by 1.4% during the 3rd quarter. Commerce Bank now owns 49,290 shares of the company’s stock valued at $1,999,000 after acquiring an additional 674 shares during the last quarter. Yardley Wealth Management LLC purchased a new position in shares of Exelon during the 3rd quarter worth about $324,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Exelon by 0.3% in the third quarter. PNC Financial Services Group Inc. now owns 315,954 shares of the company’s stock worth $12,812,000 after acquiring an additional 977 shares during the last quarter. 80.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EXC. Wells Fargo & Company upped their price target on shares of Exelon from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. UBS Group increased their target price on Exelon from $40.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Scotiabank boosted their price target on Exelon from $37.00 to $40.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Morgan Stanley reduced their price objective on Exelon from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, Barclays boosted their target price on Exelon from $41.00 to $44.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Eleven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Exelon has a consensus rating of “Hold” and a consensus target price of $41.25.

Exelon Stock Down 1.5 %

Shares of NASDAQ:EXC opened at $38.71 on Monday. The company has a market capitalization of $38.90 billion, a price-to-earnings ratio of 15.93, a price-to-earnings-growth ratio of 2.81 and a beta of 0.54. The company has a 50 day moving average of $39.64 and a two-hundred day moving average of $37.83. Exelon Co. has a 52-week low of $33.35 and a 52-week high of $41.42. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.66.

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

Exelon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 11th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.52 dividend on an annualized basis and a yield of 3.93%. Exelon’s dividend payout ratio (DPR) is presently 62.55%.

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.