HITE Hedge Asset Management LLC Buys 321,333 Shares of Exelon Co. (NASDAQ:EXC)

HITE Hedge Asset Management LLC increased its position in Exelon Co. (NASDAQ:EXC) by 431.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 395,840 shares of the company’s stock after acquiring an additional 321,333 shares during the quarter. Exelon comprises about 1.8% of HITE Hedge Asset Management LLC’s holdings, making the stock its 20th biggest holding. HITE Hedge Asset Management LLC’s holdings in Exelon were worth $16,051,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc boosted its stake in Exelon by 646.2% during the second quarter. Versant Capital Management Inc now owns 776 shares of the company’s stock worth $27,000 after buying an additional 672 shares during the last quarter. J.Safra Asset Management Corp acquired a new position in Exelon during the second quarter worth $28,000. American National Bank & Trust raised its holdings in shares of Exelon by 178.8% in the third quarter. American National Bank & Trust now owns 697 shares of the company’s stock worth $28,000 after acquiring an additional 447 shares during the last quarter. Abound Wealth Management grew its position in Exelon by 502.7% during the second quarter. Abound Wealth Management now owns 892 shares of the company’s stock valued at $31,000 after acquiring an additional 744 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Exelon in the third quarter worth about $32,000. 80.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Jefferies Financial Group assumed coverage on Exelon in a report on Thursday, September 19th. They issued a “buy” rating and a $46.00 target price for the company. Barclays boosted their price target on shares of Exelon from $41.00 to $44.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Scotiabank lifted their price objective on shares of Exelon from $37.00 to $40.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Morgan Stanley dropped their target price on shares of Exelon from $46.00 to $44.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. Finally, UBS Group boosted their target price on shares of Exelon from $40.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $41.25.

Exelon Stock Down 3.0 %

EXC opened at $38.37 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.66. The business’s fifty day simple moving average is $39.59 and its 200 day simple moving average is $37.88. The stock has a market cap of $38.56 billion, a PE ratio of 15.79, a P/E/G ratio of 2.82 and a beta of 0.54. Exelon Co. has a 52 week low of $33.35 and a 52 week high of $41.42.

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

Exelon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, November 11th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date is Friday, November 8th. Exelon’s dividend payout ratio (DPR) is 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.