HITE Hedge Asset Management LLC Has $16.05 Million Stake in Exelon Co. (NASDAQ:EXC)

HITE Hedge Asset Management LLC grew its stake in Exelon Co. (NASDAQ:EXC - Free Report) by 431.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 395,840 shares of the company's stock after purchasing an additional 321,333 shares during the quarter. Exelon makes up approximately 1.8% of HITE Hedge Asset Management LLC's investment portfolio, making the stock its 20th largest holding. HITE Hedge Asset Management LLC's holdings in Exelon were worth $16,051,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. HighTower Advisors LLC increased its position in Exelon by 2.9% during the 3rd quarter. HighTower Advisors LLC now owns 253,792 shares of the company's stock worth $10,276,000 after buying an additional 7,213 shares during the period. Holocene Advisors LP increased its position in Exelon by 465.2% during the third quarter. Holocene Advisors LP now owns 214,382 shares of the company's stock worth $8,693,000 after acquiring an additional 176,450 shares during the period. Benjamin Edwards Inc. raised its stake in Exelon by 18.5% in the 3rd quarter. Benjamin Edwards Inc. now owns 17,581 shares of the company's stock worth $714,000 after purchasing an additional 2,741 shares in the last quarter. Paloma Partners Management Co boosted its holdings in Exelon by 269.9% in the 3rd quarter. Paloma Partners Management Co now owns 34,263 shares of the company's stock valued at $1,389,000 after purchasing an additional 25,001 shares during the period. Finally, Kestra Investment Management LLC acquired a new position in shares of Exelon during the 3rd quarter worth approximately $215,000. Institutional investors own 80.92% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Morgan Stanley cut their price target on Exelon from $46.00 to $44.00 and set an "equal weight" rating for the company in a research note on Friday, November 22nd. Jefferies Financial Group initiated coverage on Exelon in a report on Thursday, September 19th. They set a "buy" rating and a $46.00 target price on the stock. Barclays boosted their price target on Exelon from $41.00 to $44.00 and gave the company an "overweight" rating in a research note on Tuesday, October 15th. Scotiabank increased their price objective on shares of Exelon from $37.00 to $40.00 and gave the stock a "sector perform" rating in a research note on Tuesday, August 20th. Finally, UBS Group upped their price target on shares of Exelon from $40.00 to $43.00 and gave the stock a "neutral" rating in a report on Friday, September 20th. Eleven analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $41.25.

Exelon Trading Down 0.6 %

Shares of EXC stock traded down $0.23 during trading hours on Tuesday, hitting $38.14. 6,605,821 shares of the company's stock traded hands, compared to its average volume of 6,703,683. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.66. Exelon Co. has a 12 month low of $33.35 and a 12 month high of $41.42. The stock has a market cap of $38.32 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 2.74 and a beta of 0.54. The stock's 50 day simple moving average is $39.51 and its 200 day simple moving average is $37.87.

Exelon (NASDAQ:EXC - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.71 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.04. The firm had revenue of $6.15 billion for the quarter, compared to analyst estimates of $5.85 billion. Exelon had a return on equity of 9.47% and a net margin of 10.60%. The business's revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.67 EPS. On average, sell-side analysts anticipate that Exelon Co. will post 2.45 EPS for the current year.

Exelon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 11th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.52 dividend on an annualized basis and a yield of 3.99%. Exelon's payout ratio is currently 62.55%.

About Exelon

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.