Exelon Co. (NASDAQ:EXC) Declares $0.38 Quarterly Dividend

Exelon Co. (NASDAQ:EXC) announced a quarterly dividend on Tuesday, April 30th, Wall Street Journal reports. Investors of record on Monday, May 13th will be given a dividend of 0.38 per share on Friday, June 14th. This represents a $1.52 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date is Friday, May 10th.

Exelon has decreased its dividend payment by an average of 2.0% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Exelon has a dividend payout ratio of 57.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Exelon to earn $2.62 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 58.0%.

Exelon Price Performance

Exelon stock opened at $37.82 on Thursday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.93 and a current ratio of 1.03. Exelon has a 1 year low of $33.35 and a 1 year high of $43.53. The firm has a 50 day moving average price of $37.02 and a 200 day moving average price of $36.96. The company has a market cap of $37.82 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 2.71 and a beta of 0.53.

Exelon (NASDAQ:EXC) last released its quarterly earnings data on Wednesday, February 21st. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02. Exelon had a net margin of 10.44% and a return on equity of 9.27%. The company had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same period in the previous year, the firm earned $0.43 earnings per share. Exelon’s revenue for the quarter was up 15.0% on a year-over-year basis. Sell-side analysts predict that Exelon will post 2.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on EXC shares. BMO Capital Markets increased their target price on shares of Exelon from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. TheStreet cut shares of Exelon from a “b-” rating to a “c+” rating in a report on Wednesday, February 7th. Scotiabank dropped their target price on shares of Exelon from $39.00 to $37.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. StockNews.com raised shares of Exelon from a “sell” rating to a “hold” rating in a report on Monday, March 25th. Finally, Bank of America dropped their target price on shares of Exelon from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Friday, January 19th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $38.83.

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.