Exelon Corporation (EXC) - NYSE
  • Tue, Apr. 26, 1:00 PM
    • Exelon (NYSE:EXC) declares $0.318/share quarterly dividend, 2.6% increase from prior dividend of $0.31.
    • Forward yield 3.67%
    • Payable June 10; for shareholders of record May 13; ex-div May 11.
    | Tue, Apr. 26, 1:00 PM | 14 Comments
  • Fri, Apr. 8, 5:36 PM
    • Some of the largest U.S. utilities are joining forces to stockpile critical pieces of electrical equipment that can be rushed to power companies if they are hit by terrorist attacks, earthquakes or other disasters that could cause extended blackouts, WSJ reports.
    • American Electric Power (NYSE:AEP), Exelon (NYSE:EXC), Southern Co. (NYSE:SO), Edison International (NYSE:EIX) and Eversource Energy (NYSE:ES) are funding the creation of a new Delaware company, Grid Assurance, which plans to store circuit breakers, large transformers and other crucial parts at secure, unidentified locations, and then sell them to participating utility companies that need them during emergencies.
    • The participants estimate, for example, they will need at least 100 transformers, often costing $2M-$10M each, so the venture will be expensive but far less costly than a major blackout.
    • “The last thing we want is for someone to do a physical attack and wipe out our spares, too,” says Scott Moore, VP of transmission engineering at AEP.
    • Now read At the dividend dance, it's time to change partners - buy old biotech, sell utilities
    | Fri, Apr. 8, 5:36 PM | 16 Comments
  • Mon, Apr. 4, 7:32 AM
    • March monthly performance was: +6.31%
    • AUM of $12.6B
    • 52-week performance vs. the S&P 500 is: -1%
    • $0.07 in dividends were paid in March
    • Top 10 Holdings as of 12/31/2015: General Mills Inc (GIS): 3.41%, Coca-Cola Co (KO): 2.73%, Campbell Soup Co (CPB): 2.68%, AT&T Inc (T): 2.57%, Heineken NV (OTCQX:HINKF): 2.37%, The Kraft Heinz Co (KHC): 1.98%, Eli Lilly and Co (LLY): 1.9%, Exelon Corp (EXC): 1.88%, Walgreens Boots Alliance Inc (WBA): 1.87%, PPL Corp (PPL): 1.82%
    | Mon, Apr. 4, 7:32 AM
  • Wed, Mar. 23, 2:04 PM
    • Pepco (POM +27.7%) has blasted off on news Washington D.C. regulators have approved the company's $27.25/share acquisition by Exelon (EXC +0.9%).
    • The D.C. Public Service Commission voted 2-to-1 to approve the deal, after having twice rejected it. The FERC, the DOJ, and the states of Maryland, New Jersey, and Delaware have already approved.
    • Prior Exelon/Pepco coverage
    | Wed, Mar. 23, 2:04 PM | 33 Comments
  • Fri, Mar. 11, 3:06 PM
    • Pepco (POM -7.3%) plunges after the D.C. People's Counsel says the latest merger proposal with Exelon (EXC -0.6%) is unacceptable.
    • POM and EXC proposed new settlement terms after D.C. regulators twice rejected the merger terms, but the People's Counsel - one of several city officials who need to sign off on the deal - says she would not support it.
    • D.C. is the only jurisdiction that has not approved the merger.
    | Fri, Mar. 11, 3:06 PM | 46 Comments
  • Mon, Mar. 7, 2:08 PM
    • Exelon (EXC +1.5%) and Pepco (POM +1.3%) propose three options they say would prevent the loss of customer benefits and allow the companies to complete their planned $6.8B merger.
    • The utility companies are not offering D.C. any more money but say they would support efforts by D.C. regulators and politicians to come up with a new plan for how to distribute $78M they offered the city in exchange for its support.
    • It is unclear whether such a compromise is possible among D.C. politicians and regulators after last week's rejected of a plan negotiated by the mayor that would have used part of the $78M to shield residents from rate increases.
    • Shares resume trading after a brief halt.
    | Mon, Mar. 7, 2:08 PM | 9 Comments
  • Mon, Mar. 7, 12:56 PM
    • Exelon (EXC +1.6%) is upgraded to Buy from Hold with a $39 price target at Argus, which expects low power prices, cash-flush consumers, and rising commercial and industrial activity to stimulate wholesale power markets over the next two years.
    • EXC grew EPS in 2015 despite weak results in merchant (wholesale) generation due to the timing of nuclear projects and maintenance outages, Argus says, expecting more normal generation trends in 2016 along with steady-state growth at the company's regulated utilities.
    • Earlier: Pepco-Exelon merger talks continue, companies say (Mar. 4)
    | Mon, Mar. 7, 12:56 PM | 4 Comments
  • Fri, Mar. 4, 1:28 PM
    • Pepco Holdings (POM +4.1%), awaiting regulatory approval for its acquisition by Exelon (EXC +1.1%), says the two utilities are in talks with state authorities and today's deadline to close the deal "is no longer a trigger."
    • EXC previously said that if a merger settlement was not approved by D.C. regulators by March 4, it would have the right to walk away from the merger.
    • Earlier this week, D.C.'s mayor withdrew her support for the deal, saying she objected to new provisions set by regulators regarding ratepayer protections with D.C. Water also joining parties objecting to the merger.
    | Fri, Mar. 4, 1:28 PM | 5 Comments
  • Thu, Mar. 3, 5:58 PM
    • The D.C. water and sewer authority is the latest city agency to come out against a revised settlement that would allow Exelon (NYSE:EXC) and Pepco (NYSE:POM) to merge.
    • DC Water general manager George Hawkins, one of several city officials that must sign off on a settlement agreement that was revised last week by city regulators, said today that he opposes the deal.
    • Mayor Bowser and the city's attorney general said yesterday that they would not support the deal, leaving the merger in doubt.
    • POM shares could lose another $4-$5/share if the merger does not close, says Guggenheim Securities analyst Shahriar Pourreza: “Given that [POM] has been out of a rate case since 2014 and the delays with this merger, [it] has materially deteriorated as a stand-alone company.”
    • POM lost another 2% in today's trade, and has shed 11.5% since Tuesday.
    | Thu, Mar. 3, 5:58 PM | 16 Comments
  • Wed, Mar. 2, 10:10 AM
    • February monthly performance was: +1.51%
    • AUM of $12.1B
    • 52-week performance vs. the S&P 500 is: +6%
    • No dividends were paid in February
    • Top 10 Holdings as of 12/31/2015: General Mills Inc (GIS): 3.41%, Coca-Cola Co (KO): 2.73%, Campbell Soup Co (CPB): 2.68%, AT&T Inc (T): 2.57%, Heineken NV (OTCQX:HINKF): 2.37%, The Kraft Heinz Co (KHC): 1.98%, Eli Lilly and Co (LLY): 1.9%, Exelon Corp (EXC): 1.88%, Walgreens Boots Alliance Inc (WBA): 1.87%, PPL Corp (PPL): 1.82%
    | Wed, Mar. 2, 10:10 AM | 2 Comments
  • Tue, Mar. 1, 2:42 PM
    • Pepco Holdings (POM -14.1%) extends earlier losses after D.C. Mayor Bowser says she does not support the revised merger settlement with Exelon (EXC -0.2%), following this morning's rejection by D.C.’s chief advocate for ratepayers.
    • The mayor had negotiated a plan for the companies to pay $78M in exchange for D.C.’s support for the $6.8B merger; D.C.'s Public Service Commission rejected the settlement last week but left the door open to reconsider the deal under new terms.
    • D.C.’s attorney general then said the new terms jeopardized benefits for D.C. ratepayers, and the ratepayer group joined in, saying the PSC had taken away a principal benefit of the merger from residential electricity customers by removing the guarantee of no rate increases through March 2019.
    | Tue, Mar. 1, 2:42 PM | 16 Comments
  • Tue, Mar. 1, 11:48 AM
    • Pepco Holdings (POM -8.6%) plunges on news that the People's Counsel advocacy group comes out against the revised settlement agreement for a proposed merger with Exelon (EXC -0.7%).
    • The D.C. Public Service Commission "has taken a principal benefit of the merger away from residential electricity customers by removing the guarantee of no rate increases for residential ratepayers through March 2019," according to the People's Counsel.
    • Last week, the PSC rejected the proposed merger but offered revised terms that were seen as relatively minor.
    | Tue, Mar. 1, 11:48 AM | 12 Comments
  • Fri, Feb. 26, 4:58 PM
    • Exelon (NYSE:EXC) says it will "carefully review" the revised proposal from the D.C. Public Service Commission regarding its planned merger with Pepco Holdings.
    • The revised terms would change the oversight of some of the $72.8M offered by EXC and cancels part of the previous settlement that would have designated the company as the developer of a 5 MW solar project at a D.C. water treatment plant; one D.C. council member who had opposed the merger described the changes as relatively minor during a local radio interview.
    • Allison Fisher of Public Citizen calls the new deal "a huge loss for consumers... and a sad commentary on how things are done in the District."
    • Paul Patterson, a utilities analyst for Glenrock Associates, thinks it's "more likely than not" that EXC will go along with the new terms.
    | Fri, Feb. 26, 4:58 PM | 5 Comments
  • Fri, Feb. 26, 11:27 AM
    • Exelon’s (EXC -0.3%) revised $6.8B agreement to acquire Pepco Holdings (POM -0.1%) is rejected by the D.C. Public Service Commission, despite having reached a settlement with the city's mayor.
    • The PSC says the deal would not enhance POM's distribution system reliability and that the companies' role in developing solar and microgrid projects could "undermine competition and grid neutrality."
    • However, the PSC passes a series of changes to the settlement that could result in merger approval, but it is not yet clear if EXC will consider any changes.
    | Fri, Feb. 26, 11:27 AM | 22 Comments
  • Tue, Feb. 23, 12:59 PM
    • Exelon (EXC -1.6%) is downgraded to Sell with a $27 price target at Citigroup, which says that although EXC's merger with Pepco Holdings (POM -0.5%) is earnings accretive, it is also value destructive.
    • The deal enhances EXC’s equity value by $5B but also brings with it additional parent net debt of $4B and 58M shares, Citi analyst Praful Mehta says.
    • Citi says the net impact of the deal is a reduction in EXC’s standalone equity value by $1/share, and although EXC’s dividend yield is high relative to peers, the underlying weakness at the company threatens its total returns.
    | Tue, Feb. 23, 12:59 PM | 18 Comments
  • Fri, Feb. 12, 4:57 PM
    • The long-delayed merger of Exelon (NYSE:EXC) and Pepco Holdings (NYSE:POM) appears headed for clearance by the D.C. Public Service Commission by the end of this month, according to a report by CTFN.
    • The PSC issued a surprise rejection of the $6.8B deal nearly six months ago but is poised for a revote that is much more likely to gain approval, according to Robert Burns of the National Regulatory Institute.
    • EXC and POM negotiated a settlement with the D.C. mayor's office and several opposing groups, promising tens of millions of dollars in concessions that will go far in satisfying the PSC's statutory requirement that the merger benefit ratepayers, a far stiffer standard than required by most state electric power regulators, Burns says.
    • Earlier: Investors remain optimistic that Exelon-Pepco deal gets done (Feb. 10)
    | Fri, Feb. 12, 4:57 PM | 15 Comments
Company Description
Exelon Corp. operates as a utility services holding company that is engaged, through Generation, in the energy generation business, and through ComEd, PECO and BGE. The company operates its business through nine segments consisting of Generation's six power marketing reportable segments Mid... More
Sector: Utilities
Industry: Diversified Utilities
Country: United States