Covalis Capital LLP Acquires New Stake in Exelon Co. (NASDAQ:EXC)

Covalis Capital LLP bought a new position in shares of Exelon Co. (NASDAQ:EXC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 405,837 shares of the company's stock, valued at approximately $15,276,000. Exelon accounts for about 2.2% of Covalis Capital LLP's investment portfolio, making the stock its 16th largest position.

Other hedge funds have also added to or reduced their stakes in the company. XTX Topco Ltd acquired a new stake in shares of Exelon in the 3rd quarter valued at about $204,000. Te Ahumairangi Investment Management Ltd grew its stake in Exelon by 3.1% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 85,600 shares of the company's stock valued at $3,451,000 after acquiring an additional 2,600 shares during the period. Sanctuary Advisors LLC increased its holdings in shares of Exelon by 24.3% during the third quarter. Sanctuary Advisors LLC now owns 40,438 shares of the company's stock valued at $1,565,000 after acquiring an additional 7,894 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Exelon during the third quarter worth approximately $376,000. Finally, Tidal Investments LLC lifted its holdings in shares of Exelon by 6.5% in the 3rd quarter. Tidal Investments LLC now owns 44,458 shares of the company's stock worth $1,803,000 after purchasing an additional 2,718 shares in the last quarter. 80.92% of the stock is currently owned by institutional investors.

Exelon Stock Performance

Shares of NASDAQ EXC traded up $1.14 during mid-day trading on Tuesday, reaching $47.37. 7,381,381 shares of the company's stock were exchanged, compared to its average volume of 7,240,251. Exelon Co. has a 52 week low of $34.01 and a 52 week high of $48.11. The firm has a 50-day moving average price of $44.42 and a two-hundred day moving average price of $40.85. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.87 and a quick ratio of 0.78. The firm has a market capitalization of $47.82 billion, a price-to-earnings ratio of 19.33, a price-to-earnings-growth ratio of 2.86 and a beta of 0.39.

Exelon (NASDAQ:EXC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.05. Exelon had a return on equity of 9.52% and a net margin of 10.68%. During the same quarter in the previous year, the firm posted $0.60 EPS. Analysts predict that Exelon Co. will post 2.64 EPS for the current year.

Exelon Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 24th were paid a dividend of $0.40 per share. This is a boost from Exelon's previous quarterly dividend of $0.38. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend was Monday, February 24th. Exelon's dividend payout ratio is presently 65.31%.

Wall Street Analysts Forecast Growth

EXC has been the topic of several research reports. Scotiabank upped their price objective on shares of Exelon from $42.00 to $44.00 and gave the stock a "sector perform" rating in a report on Thursday, February 13th. UBS Group upped their target price on shares of Exelon from $45.00 to $47.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Evercore ISI reiterated an "in-line" rating and set a $48.00 price target (up previously from $46.00) on shares of Exelon in a research note on Tuesday, April 15th. BMO Capital Markets reissued an "outperform" rating on shares of Exelon in a research note on Tuesday, February 4th. Finally, Morgan Stanley lifted their target price on Exelon from $46.00 to $48.00 and gave the company an "equal weight" rating in a research report on Thursday, March 20th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $45.63.

Insider Activity at Exelon

In other Exelon news, EVP Colette D. Honorable sold 1,463 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $40.57, for a total value of $59,353.91. Following the completion of the transaction, the executive vice president now owns 2,271 shares in the company, valued at $92,134.47. This trade represents a 39.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.10% of the stock is owned by company insiders.

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.