Exelon Co. (NASDAQ:EXC) Stake Lessened by Steel Grove Capital Advisors LLC

Steel Grove Capital Advisors LLC lessened its stake in Exelon Co. (NASDAQ:EXC) by 2.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,724 shares of the company’s stock after selling 972 shares during the period. Steel Grove Capital Advisors LLC’s holdings in Exelon were worth $1,652,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in EXC. Nippon Life Global Investors Americas Inc. acquired a new position in Exelon in the second quarter worth $592,000. EverSource Wealth Advisors LLC boosted its holdings in Exelon by 69.7% in the second quarter. EverSource Wealth Advisors LLC now owns 4,071 shares of the company’s stock worth $151,000 after purchasing an additional 1,672 shares during the period. Frank Rimerman Advisors LLC boosted its holdings in Exelon by 35,975.0% in the second quarter. Frank Rimerman Advisors LLC now owns 10,101 shares of the company’s stock worth $350,000 after purchasing an additional 10,073 shares during the period. Profund Advisors LLC boosted its holdings in Exelon by 15.5% in the second quarter. Profund Advisors LLC now owns 127,358 shares of the company’s stock worth $4,408,000 after purchasing an additional 17,108 shares during the period. Finally, Summit Trail Advisors LLC boosted its holdings in Exelon by 147.5% in the second quarter. Summit Trail Advisors LLC now owns 15,776 shares of the company’s stock worth $546,000 after purchasing an additional 9,402 shares during the period. Institutional investors own 80.92% of the company’s stock.

Exelon Price Performance

Shares of Exelon stock opened at $40.27 on Monday. The company has a current ratio of 1.03, a quick ratio of 0.93 and a debt-to-equity ratio of 1.66. The company’s 50-day moving average price is $37.83 and its two-hundred day moving average price is $37.06. Exelon Co. has a 52 week low of $33.35 and a 52 week high of $41.48. The stock has a market cap of $40.29 billion, a PE ratio of 17.36, a price-to-earnings-growth ratio of 2.93 and a beta of 0.53.

Exelon (NASDAQ:EXC) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.47 EPS for the quarter, topping 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 previous year, the business earned $0.41 earnings per share. As a group, sell-side analysts anticipate that Exelon Co. will post 2.44 EPS for the current fiscal year.

Exelon Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.52 annualized dividend and a yield of 3.77%. Exelon’s payout ratio is presently 65.52%.

Analyst Upgrades and Downgrades

EXC has been the subject of a number of research reports. Scotiabank lifted their price objective on shares of Exelon from $37.00 to $40.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Morgan Stanley boosted their price target on shares of Exelon from $39.00 to $42.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. UBS Group boosted their price target on shares of Exelon from $40.00 to $43.00 and gave the company a “neutral” rating in a report on Friday. Wells Fargo & Company boosted 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. Finally, Jefferies Financial Group started coverage on shares of Exelon in a report on Thursday. They set a “buy” rating and a $46.00 price target for the company. Eleven analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Exelon currently has an average rating of “Hold” and an average target price of $40.83.

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.