Meeder Asset Management Inc. increased its holdings in shares of Exelon Co. (NYSE:EXC) by 15.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 205,538 shares of the energy giant’s stock after purchasing an additional 28,267 shares during the quarter. Meeder Asset Management Inc.’s holdings in Exelon were worth $8,973,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Welch Group LLC acquired a new position in Exelon in the 3rd quarter valued at about $110,000. Landaas & Co. WI ADV acquired a new position in Exelon in the 2nd quarter valued at about $116,000. CWM LLC grew its position in Exelon by 106.5% in the 3rd quarter. CWM LLC now owns 2,653 shares of the energy giant’s stock valued at $116,000 after acquiring an additional 1,368 shares in the last quarter. Burt Wealth Advisors grew its position in Exelon by 81.6% in the 3rd quarter. Burt Wealth Advisors now owns 2,884 shares of the energy giant’s stock valued at $126,000 after acquiring an additional 1,296 shares in the last quarter. Finally, TRUE Private Wealth Advisors acquired a new position in Exelon in the 3rd quarter valued at about $152,000. 78.89% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on the company. SunTrust Banks cut Exelon from a “buy” rating to a “hold” rating and set a $33.00 price objective for the company. in a research note on Tuesday, September 11th. They noted that the move was a valuation call. Morgan Stanley lifted their price objective on Exelon from $43.00 to $46.00 and gave the company a “hold” rating in a research note on Tuesday, September 11th. ValuEngine upgraded Exelon from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. KeyCorp lifted their price objective on Exelon from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, August 17th. Finally, Wells Fargo & Co lifted their price objective on Exelon from $44.00 to $46.00 and gave the company a “market perform” rating in a research note on Monday, September 17th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $45.67.
EXC stock opened at $43.40 on Monday. The company has a market cap of $41.97 billion, a P/E ratio of 16.69, a price-to-earnings-growth ratio of 2.46 and a beta of 0.26. Exelon Co. has a fifty-two week low of $35.57 and a fifty-two week high of $45.05. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.33 and a quick ratio of 1.16.
Exelon (NYSE:EXC) last posted its earnings results on Thursday, November 1st. The energy giant reported $0.88 earnings per share for the quarter, hitting the consensus estimate of $0.88. The firm had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $8.74 billion. Exelon had a return on equity of 9.35% and a net margin of 10.67%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.85 earnings per share. As a group, sell-side analysts anticipate that Exelon Co. will post 3.12 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Thursday, November 15th will be paid a dividend of $0.345 per share. This represents a $1.38 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Wednesday, November 14th. Exelon’s payout ratio is 53.08%.
Exelon Corporation, a utility services holding company, engages in energy generation and delivery businesses in the United States and Canada. The company owns electric generating facilities, such as nuclear, fossil, wind, hydroelectric, and solar generating facilities. It also sells electricity to wholesale and retail customers; and sells natural gas, renewable energy, and other energy-related products and services.
Recommended Story: Outstanding Shares
Want to see what other hedge funds are holding EXC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Exelon Co. (NYSE:EXC).
Receive News & Ratings for Exelon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exelon and related companies with MarketBeat.com's FREE daily email newsletter.