Exelon CorporationNasdaq: EXC
Utilities · Electric Utilities
$46.44
+0.55%
Vol: 3.6M
Research Digest
Tuesday, June 16, 2026
No significant overnight updates
No material news in the last 48 hours.
Previous Market Intelligence
13 daysJun 15No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 14No significant overnight updatesNeutral▶
No material news in the last 48 hours.
May 21Exelon beats Q1 estimates, affirms 2026 EPS guidance, and shifts capex from utility to transmission to ease customer billsNeutral▶
Exelon reported Q1 2026 adjusted EPS of $0.91 and revenue of $7.24B on May 6, beating estimates. The company affirmed FY26 guidance of $2.81-$2.91 per share and projected compounded annual EPS growth near the top of its 5-7% target range through 2029. Exelon also revised its capex plan to lower utility spending by $350M next year while increasing transmission investments, with a four-year plan totaling $41.7B that supports 7.9% annual rate-base growth. EXC declared a $0.42 cash dividend with an ex-date of June 4. Data-center driven load growth remains a long-term tailwind (ComEd expects Illinois load to rise 19 GW by 2030), though PECO withdrew its electric and gas rate cases in Pennsylvania, creating near-term cost-recovery uncertainty. TD Cowen trimmed its PT to $49 from $51.
May 20TD Cowen lowered Exelon's price target to $49 from $51 (Hold) on May 15 amid PECO's withdrawal of Pennsylvania rate cases, while Exelon defers $1.1B utility capex and shifts $1.5B to transmission to support data-center load.Mixed▶
TD Cowen cut its Exelon price target to $49 from $51 on May 15 while maintaining Hold, citing rising capex and grid demand concerns. Exelon is rebalancing its capital plan with $1.1B in PECO/BGE project deferrals and $1.5B in incremental transmission investment to interconnect data centers, while PECO withdrew its Pennsylvania electric and gas rate cases, raising near-term cost recovery uncertainty. ComEd expects Illinois load to grow 19 GW by 2030 driven by data centers, supporting the structural growth thesis. Exelon affirmed FY26 adjusted EPS guidance of $2.81-$2.91 and a $41.7B four-year capex plan targeting 7.9% rate base growth. Risk: regulatory delays in PA could pressure near-term earnings even as long-term data-center tailwinds build.
May 19Exelon faces analyst PT cuts in mid-May as TD Cowen lowered target to $49 and KeyBanc cut to $41 with Sell rating amid regulatory uncertainty.Negative▶
Exelon reported Q1 2026 (May 6) adj. EPS of $0.91 and revenue $7.24B, topping estimates. Capital plan adjusted: $1.1B utility deferrals at PECO and BGE offset by $1.5B transmission increase; revised plan calls for $41.7B over four years with 7.9% rate base growth and 16%/yr transmission growth. 2026 EPS guide $2.81-$2.91. PECO withdrew PA rate cases. TD Cowen cut PT to $49 from $51 (May 15); KeyBanc to $41 from $43 with Sell (May 13). Bear case: regulatory withdrawal creates near-term cost-recovery uncertainty.
May 18TD Cowen trimmed Exelon's price target to $49 on May 15, the latest in a string of sell-side cuts as the utility navigates revised capital spending.Negative▶
On May 15, 2026, TD Cowen maintained a Hold rating on Exelon and lowered its price target to $49 from $51, following KeyBanc's May 13 cut from $43 to $41 with a Sell rating. The actions come after Exelon's Q1 results on May 6 delivered adjusted EPS of $0.91 on $7.24B in revenue, but the company also announced a revised capital plan that defers $1.1B at PECO and BGE while adding $1.5B in transmission spending tied to data center interconnections. Exelon reaffirmed its full-year 2026 adjusted EPS guidance of $2.81-$2.91 and reiterated long-term EPS growth near the top of its 5-7% range through 2029. Shares trade near $43.47, close to the 52-week low, with the data-center demand story seen as the key upside catalyst. A $0.42 dividend is payable with an ex-date of June 4.
May 15KeyBanc cut Exelon price target to $41 on May 12 amid PECO Pennsylvania rate case withdrawal; Q1 EPS of $0.91 beat estimates.Mixed▶
Exelon reported Q1 2026 adjusted EPS of $0.91 and revenue of $7.24B on May 6, beating estimates with outperformance driven by favorable weather and timing. The company affirmed 2026 EPS guidance of $2.81-$2.91 and projects 5-7% EPS CAGR through 2029. The four-year capital plan was revised upward to $41.7B for 2026-2029, with reallocation toward transmission investment. However, PECO withdrew its electric and gas rate cases in Pennsylvania, creating regulatory uncertainty. KeyBanc cut its price target to $41 from $43 on May 12; Evercore ISI cut to $57 from $58 on May 8. The board declared a $0.42 dividend on April 28. Risk: regulatory uncertainty from withdrawn rate cases.
May 14Exelon Q1 2026 EPS of $0.91 reaffirms full-year guidance; reallocates $1.1B utility spend to $1.5B transmission to ease affordabilityMixed▶
Exelon reported Q1 2026 adjusted EPS of $0.91 and revenue of $7.24B on May 6, 2026, affirming full-year 2026 guidance of $2.81-$2.91 per share and projecting compounded annual EPS growth near the top of its 5%-7% target through 2029. The utility lowered planned spending at PECO and BGE by $1.1B (deferrals/reductions) while raising transmission investment by $1.5B, resulting in $41.7B total capex over four years and 7.9% annual rate base growth. The shift aims to ease electric affordability while capturing data center transmission demand. The board declared a $0.42 quarterly dividend on April 28. KeyBanc lowered its target to $41 from $43, maintaining Underweight, citing regulatory uncertainty. Shares trade near $44.45, close to a 52-week low.
May 13Exelon affirms 2026 EPS guidance of $2.81-$2.91 after Q1 beat but stock slips on regulatory concernsMixed▶
Exelon reported Q1 2026 results on May 6 with adjusted EPS of $0.91 and revenue of $7.24 billion, topping analyst expectations, driven primarily by favorable weather and timing-related items. The company affirmed its full-year 2026 adjusted operating earnings guidance of $2.81-$2.91 per share and outlined a $41.7 billion four-year capital plan underpinning expected 7.9% rate base growth. The board declared a dividend of $0.42 per share on April 28. Despite the affirmation, the stock has slipped 3.4% over the past seven days and 9.5% over 30 days on increased regulatory risk concerns. Recent analyst downgrades and a Hold rating with a $49 price target indicate caution. Exelon also secured a $13 million savings settlement for gas customers.
May 12Exelon Q1 adjusted EPS $0.91; cuts utility spending by $350M to ease bills; files $2.5B equity offeringMixed▶
Exelon reported Q1 2026 adjusted operating EPS of $0.91, slightly below $0.92 last year but ahead of internal expectations. The company revised its capital plan to lower utility spending by $350 million next year to support electric affordability — featuring $1.1 billion of project deferrals/reductions at PECO and BGE, offset by $1.5 billion of incremental transmission investment to support data-center interconnection agreements. The revised plan calls for $41.7 billion in spending over four years with 7.9% annual rate base growth and ~16% transmission rate base growth through 2029. Exelon filed a $2.5 billion follow-on equity offering. Recent downgrades by multiple firms reflect regulatory risk concerns. Dividend yield 3.52%.
May 11Exelon raises capital plan to $41.7B over 2026-2029 with transmission focus, affirms FY26 EPS guidance after Q1 beat amid data center growthMixed▶
Exelon Corporation reported Q1 2026 results on May 6 with adjusted EPS of $0.91 and revenue of $7.24 billion, topping analyst expectations on favorable weather and timing items. The company affirmed full-year 2026 adjusted operating earnings guidance of $2.81-$2.91 per share, targeting midpoint or better, and projects compounded annual EPS growth near the top of its 5-7% range through 2029. Exelon revised its four-year capital expenditure plan upward to $41.7 billion (up $400 million), with transmission investment now representing 39% of spending at $16.3 billion. The company highlighted a committed 18 GW data center pipeline plus 43 GW potential additions. Management is targeting an additional $350 million in 2027 savings via AI/IT transformation. Stock has slipped 9.5% over the past 30 days, with analysts citing regulatory risks. Most recent rating: Hold, $49 target.
May 8Exelon Q1 slightly down; capital plan boost, cost cuts offset headwindsMixed▶
Exelon reported Q1 2026 adjusted operating earnings of $0.91/share, down slightly from $0.92 prior year. Announced revised $41.7B four-year capital plan with $10B for 2026 and $1.5B incremental transmission spending. Transmission rate base expected to grow ~16% through 2029 supporting 7.9% annualized rate base expansion. Company committed to $350M incremental cost savings by 2027 on top of $1B customer savings delivered past year. All utilities delivered top-quartile reliability; ComEd in top decile. Board declared $0.42 quarterly dividend. Recent downgrades from multiple firms cite regulatory risks. However, analyst consensus is "Buy" with 12-month target of $50.23 (+12.3% upside). Mixed near-term outlook balanced by long-term growth from grid modernization and operational excellence.
May 7Exelon affirms FY26 adjusted EPS guidance of $2.81-2.91; announces $41.7B four-year capex plan with $350M cost savingsNeutral▶
Exelon Corp affirmed FY26 adjusted operating earnings guidance of $2.81-2.91 per share while reporting Q1 results. Company unveiled revised four-year capex plan totaling $41.7B with nearly $10B for 2026 and $1.5B incremental transmission spending; transmission rate base expected to grow 16% through 2029. Announced $350M incremental O&M savings by 2027 on top of $1B already delivered. Q1 adjusted operating earnings $0.91 vs $0.92 prior year. Board declared $0.42 quarterly dividend payable June 15. Stock trades at $45.20 (16.88 P/E, 3.5% yield).
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| EXCEXELON | $46.44 | +0.55% | +5.0% | 15.2x | 0.41 | $47.3B |
| SOSOUTHERN | $94.11 | +0.31% | +0.1% | 19.1x | 0.34 | $105.8B |
| DUKDUKE | $125.41 | +0.10% | +2.0% | 17.5x | 0.38 | $97.7B |
| CEGCONSTELLATION | $268.73 | +2.43% | +0.1% | 19.3x | 1.09 | $93.7B |
| AEPAMERICAN | $129.52 | +0.16% | +1.3% | 18.9x | 0.52 | $70.4B |
| VSTVISTRA | $159.20 | +3.70% | +12.3% | 14.0x | 1.41 | $51.8B |
Key Fundamentals
RSI (14-Day)
52-Week Range
Moving Averages
Price between 50d and 200d. Testing 50d support.