Exelon (EXC)
Owner of regulated electric and gas delivery utilities across Illinois and the Mid-Atlantic.
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Owns six regulated utilities that deliver electricity and natural gas across Illinois and the Mid-Atlantic. Revenue and earnings are shaped by commission-approved rates and infrastructure investment, while electricity supply comes from third-party generators rather than company-owned plants.
Owns six regulated electric and gas utilities: ComEd in northern Illinois; PECO in southeastern Pennsylvania; BGE in central Maryland; Pepco in Washington, D.C. and suburban Maryland; Delmarva Power in Delaware and eastern Maryland; and Atlantic City Electric in southern New Jersey. These businesses purchase energy, deliver it through local transmission and distribution networks, and direct capital toward reliability and grid modernization.
Operates within commission-regulated service territories, with earnings shaped by approved customer rates and recovery of infrastructure investment. State regulators govern retail rates, while federal regulation covers interstate transmission. Does not generate the electricity it delivers, relying on third-party suppliers and the PJM market for power supply.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 22, 2026 | Argus Research | Target | Target: $45 | Target: $49 |
| Sep 18, 2026 | Morgan Stanley | Reiterate | Rating: —Target: $55 | Target: $50 |
| Aug 13, 2026 | Truist Financial | Target | Target: $49 | Target: $48 |
| May 29, 2026 | Truist Financial | Target | Target: $50 | Target: $49 |
| May 13, 2026 | Keybanc | Reiterate | Rating: —Target: $43 | Target: $41 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $1.25B · Total debt $52.28B · Total assets $120.51B · Shareholders' equity $29.70B
- Revenue
- $5.97B
- Operating income
- $979.0M
- Net income
- $396.0M
HistoryDividendAnnual yield
| Institutions | 92.75% | 955.51M shares | |
|---|---|---|---|
| 1,327 holders · as of Jun 30, 2026 | |||
| Insiders | 0.05% | 522.8K shares | |
| 7 holders · as of Feb 4, 2026 | |||
| Other | 7.20% | 74.22M shares | |
| remainder | |||
1.03B company shares as of Aug 31, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 11.63% | 119.77M | as of Jun 30, 2026 |
State Street CorpInstitution | 6.55% | 67.46M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 6.48% | 66.80M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 5.46% | 56.23M | as of Jun 30, 2026 |
Capital World InvestorsInstitution | 4.98% | 51.26M | as of Jun 30, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
- Public Service Enterprise Group
NJ's largest regulated IOU; former Exelon merger target (2004–2006).
- American Electric Power
Major Midwest/Southwest IOU; AEP Ohio directly adjacent to ComEd (IL).
- Duke Energy
Largest U.S. regulated IOU; Southeast & Midwest multi-state electric and gas.
- FirstEnergy
Large Midwest/Mid-Atlantic T&D IOU; PA territory directly adjacent to PECO.
- Eversource Energy
New England's largest pure-play T&D; structural mirror of post-2022 Exelon.
- Dominion Energy
Mid-Atlantic regulated electric IOU; Virginia Power adjoins Exelon's MD/DC/DE.
- Southern Company
Second-largest U.S. IOU; Southeast electric + multi-state gas incl. Nicor (IL).
- NextEra Energy
World's largest electric utility by market cap; FPL a large regulated T&D peer.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Exelon | $41.94 | −0.11% | $43.25B | 15.3 | 14.1 | 1.7 | +10.0% |
| Public Service Enterprise Group | $69.39 | +0.12% | $34.54B | 17.2 | 15.4 | 2.8 | −9.0% |
| American Electric Power | $120.48 | +0.37% | $65.34B | 20.8 | 18.2 | 2.9 | +7.0% |
| Duke Energy | $116.67 | −0.06% | $91.01B | 17.5 | 17.3 | 2.7 | +1.1% |
| FirstEnergy | $45.02 | +0.11% | $26.02B | 24.0 | 15.7 | 1.6 | +9.5% |
| Eversource Energy | $66.46 | −0.64% | $25.16B | 17.3 | 14.1 | 1.8 | +2.3% |
| Dominion Energy | $62.79 | −0.05% | $55.25B | 21.8 | 16.3 | 3.0 | +17.6% |
| Southern Company | $85.37 | −0.11% | $98.31B | 20.6 | 18.3 | 3.3 | +0.1% |
| NextEra Energy | $79.60 | −0.04% | $166.11B | 17.9 | 19.6 | 5.7 | +12.5% |
| Median | 19.2 | 16.8 | 2.8 | +4.7% |