Morgan Stanley Trims Exelon (NASDAQ:EXC) Target Price to $39.00

Exelon (NASDAQ:EXC) had its price objective decreased by Morgan Stanley from $41.00 to $39.00 in a research note released on Monday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other equities analysts have also recently issued reports on EXC. StockNews.com raised Exelon from a sell rating to a hold rating in a report on Monday, March 25th. Wells Fargo & Company upped their price target on Exelon from $39.00 to $40.00 and gave the company an equal weight rating in a research report on Friday, May 3rd. Barclays increased their price objective on Exelon from $36.00 to $39.00 and gave the stock an overweight rating in a research report on Thursday, March 14th. Scotiabank decreased their price target on Exelon from $39.00 to $37.00 and set a sector perform rating on the stock in a research note on Monday, April 22nd. Finally, BMO Capital Markets increased their price objective on Exelon from $40.00 to $42.00 and gave the company an outperform rating in a research note on Friday, May 3rd. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Exelon presently has a consensus rating of Hold and an average target price of $38.91.

Exelon Price Performance

NASDAQ:EXC opened at $34.80 on Monday. The firm has a market capitalization of $34.80 billion, a price-to-earnings ratio of 15.00, a PEG ratio of 2.54 and a beta of 0.52. Exelon has a 1 year low of $33.35 and a 1 year high of $43.53. The business has a 50 day simple moving average of $36.93 and a 200-day simple moving average of $36.35. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.03 and a quick ratio of 0.93.

Exelon (NASDAQ:EXC) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). The business had revenue of $6.04 billion for the quarter, compared to the consensus estimate of $5.70 billion. Exelon had a return on equity of 9.27% and a net margin of 10.44%. Equities analysts forecast that Exelon will post 2.42 EPS for the current year.

Exelon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Monday, May 13th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 4.37%. The ex-dividend date of this dividend was Friday, May 10th. Exelon’s payout ratio is 65.52%.

Hedge Funds Weigh In On Exelon

Several hedge funds have recently made changes to their positions in EXC. Heritage Wealth Advisors lifted its position in shares of Exelon by 247.5% during the 4th quarter. Heritage Wealth Advisors now owns 695 shares of the company’s stock valued at $25,000 after acquiring an additional 495 shares during the period. Register Financial Advisors LLC purchased a new stake in Exelon in the 1st quarter worth approximately $26,000. Crewe Advisors LLC purchased a new stake in shares of Exelon during the 1st quarter valued at $26,000. Fortis Group Advisors LLC acquired a new stake in Exelon in the 3rd quarter valued at $31,000. Finally, Bruce G. Allen Investments LLC purchased a new position in Exelon in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 80.92% of the company’s stock.

Exelon Company 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.