Fiera Capital Acquires 9,120 Shares in Exelon Corporation

Fiera Capital Corp has made a significant investment in Exelon Corporation by purchasing 9,120 shares during the second quarter, as disclosed in its latest Form 13F filing with the U.S. Securities and Exchange Commission (SEC). This acquisition is valued at approximately $396,000, underscoring the growing interest in the utility sector.

Several other institutional investors have also adjusted their positions in Exelon, indicating a robust market interest. Notably, Hager Investment Management Services LLC increased its stake by 100% during the same quarter, acquiring an additional 335 shares to bring its total to 670 shares, valued at $29,000. Similarly, Hazlett Burt & Watson Inc. raised its holdings by 46.4% in the first quarter, now owning 694 shares worth $32,000 after adding 220 shares.

Other noteworthy investments include ANTIPODES PARTNERS Ltd, which initiated a new position valued at approximately $34,000, and MJT & Associates Financial Advisory Group Inc., which acquired shares worth around $42,000. Overall, institutional investors now hold 80.92% of Exelon’s stock.

Analyst Ratings and Market Performance

Market analysts have recently shown increased confidence in Exelon’s prospects. On October 28, 2023, Wells Fargo & Company upgraded the company to a “strong-buy” rating. Meanwhile, Evercore ISI initiated coverage with an “outperform” rating and set a price target of $57.00 on the stock. Morgan Stanley also raised its target price from $49.00 to $53.00, maintaining an “equal weight” rating.

As of now, one analyst has assigned a Strong Buy rating, six a Buy rating, five a Hold rating, and one a Sell rating, leading to an average rating of “Moderate Buy” and an average target price of $50.55, according to MarketBeat.com.

On November 4, 2023, Exelon reported its quarterly earnings, revealing earnings per share of $0.86, surpassing analysts’ expectations of $0.69 by $0.17. The company achieved a net margin of 11.16% and a return on equity of 9.85%, with revenues of $6.71 billion for the quarter, exceeding forecasts of $6.40 billion.

Dividend Announcement and Financial Metrics

In a separate announcement, Exelon declared a quarterly dividend of $0.40 per share, which will be paid on December 15, 2023. Shareholders of record on November 10, 2023 will qualify for this dividend, representing an annualized payout of $1.60 and a yield of 3.5%. The company’s current payout ratio stands at 57.35%.

Exelon Corporation, a prominent utility services holding company, operates in energy distribution and transmission across the United States and Canada. The firm is engaged in the purchase and regulated retail sale of electricity and natural gas, alongside the transmission and distribution of electricity to retail customers. As of the latest trading session, Exelon’s shares opened at $45.94, with the stock experiencing a 1.1% increase. The company recorded a 1-year low of $35.94 and a high of $48.51, with a market capitalization of $46.41 billion.

Investors and analysts alike are closely monitoring Exelon’s performance as it navigates the evolving landscape of the energy sector, with expectations for continued growth.