Exelon Corporation (EXC), headquartered in Chicago, Illinois, is a leading energy provider specializing in power generation and distribution across the U.S. With a market cap of $39.86 billion, Exelon is a major player in the energy sector, offering a broad range of services that include electric utilities and energy transmission.
Companies valued at $10 billion or more are typically classified as "large-cap stocks," and Exelon is a prime example of this. Its robust network of power generation, transmission, and electric utility operations positions it as a major force in the energy sector, providing critical services that power homes, businesses, and industries.
EXC shares are trading 4.6% below their 52-week high of $42.15, which they hit on Sep. 15, 2023. The stock has gained 13.6% over the past three months, outperforming the broader Nasdaq Composite ($NASX), which has marginally gained over the same time frame.
In the longer term, EXC is up 12.1% on a YTD basis. However, the shares have declined 2.2% over the past 52 weeks. In comparison, the Nasdaq has gained 17.8% in 2024 and rallied 28% over the past year.
To confirm its recent bullish trend, EXC has been trading above its 200-day moving average and the 50-day moving average since late July.
Exelon stock rose 2.9% following its Q2 earnings release on Aug. 1. The company showcased an impressive financial performance, generating a total operating revenue of $5.4 billion, up 11.3% year over year and a massive 30.6% net income growth. Moreover, it reaffirmed the guidance for full-year operating earnings.
Highlighting the contrast in performance, EXC's competitor, Edison International (EIX), has outperformed both the EXC and the broader index. EIX has gained 19.5% on a YTD basis.
Analysts are cautious about EXC's prospects despite its recent outperformance. The stock has a consensus rating of "Hold" from 17 analysts in coverage. The mean price target of $40.93 reflects a 1.7% premium over current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
