Exelon Co. (NYSE:EXC) announced a quarterly dividend on Tuesday, July 30th, NASDAQ reports. Shareholders of record on Thursday, August 15th will be paid a dividend of 0.363 per share by the energy giant on Tuesday, September 10th. This represents a $1.45 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date is Wednesday, August 14th.
Exelon has increased its dividend payment by an average of 3.6% annually over the last three years and has raised its dividend every year for the last 3 years. Exelon has a dividend payout ratio of 46.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Exelon to earn $3.08 per share next year, which means the company should continue to be able to cover its $1.45 annual dividend with an expected future payout ratio of 47.1%.
Shares of EXC opened at $45.06 on Thursday. Exelon has a twelve month low of $41.72 and a twelve month high of $51.18. The firm has a 50 day simple moving average of $48.51. The stock has a market cap of $44.71 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 4.10 and a beta of 0.37. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.02 and a quick ratio of 0.89.
In other news, CEO Calvin Butler, Jr. sold 31,000 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $47.59, for a total transaction of $1,475,290.00. Following the completion of the sale, the chief executive officer now directly owns 40,331 shares of the company’s stock, valued at approximately $1,919,352.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kenneth W. Cornew sold 54,300 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $49.82, for a total transaction of $2,705,226.00. Following the sale, the executive vice president now directly owns 97,813 shares of the company’s stock, valued at $4,873,043.66. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.
EXC has been the topic of several research analyst reports. ValuEngine lowered Exelon from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Morgan Stanley boosted their price target on Exelon from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Friday, June 14th. Barclays restated a “hold” rating and set a $54.00 price objective on shares of Exelon in a research report on Wednesday, June 19th. KeyCorp began coverage on Exelon in a research report on Tuesday, June 4th. They set a “sector weight” rating for the company. Finally, Goldman Sachs Group upgraded Exelon from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $48.00 to $52.00 in a research report on Thursday, June 6th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $49.96.
Exelon Corporation, a utility services holding company, engages in energy generation and delivery businesses in the United States and Canada. It owns nuclear, fossil, wind, hydroelectric, and solar generating facilities. The company also sells electricity to wholesale and retail customers; and sells natural gas, renewable energy, and other energy-related products and services.
Further Reading: What is systematic risk?
Receive News & Ratings for Exelon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exelon and related companies with MarketBeat.com's FREE daily email newsletter.