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Exelon (EXC)

Exelon (EXC). Michael Dietrich. Business Summary. Incorporated in 1999 in Chicago Utility services holding company with regulated and unregulated divisions Primarily engages in generation of electricity Also, purchases and retailing electricity and natural gas

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Exelon (EXC)

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  1. Exelon (EXC) Michael Dietrich

  2. Business Summary • Incorporated in 1999 in Chicago • Utility services holding company with regulated and unregulated divisions • Primarily engages in generation of electricity • Also, purchases and retailing electricity and natural gas • Provides electric to 3.8million in Illinois, 1.6million in PA • Provides natural gas to 499,000 in PA

  3. Key Statistics • Purchase Price: $43.61 Consider Sell: $78.30 • Recent Price: $44.65 Consider Buy: $40.60 • Fair Value: $58.00 • Portfolio Weight: 2.9% • YTD Return: 2.6% • Holding Return: -2.02%

  4. Key Statistics Cont.

  5. 1 Year Chart

  6. 1 Year Comparative

  7. Stock Checklist

  8. Recent News • EXC is making moves into China in that they formed a consulting group to help out China National Nuclear Corp. • EXC $7.98 billion takeover of Constellation Energy Group Inc • 52.5 cents per share quarterly and will continue if the merger happens but payments may be made in two separate payments

  9. Strengths • Largest nuclear plant operator in the United States • Produces low-cost electricity with minimal greenhouse gases • Wide profit margins • Top management team in utility industry

  10. Weakness • Performance depends on volatile power prices • Struggles in their regulated units continue to dilute the generation unit’s value • The surge in renewable energy could hurt margins for Exelon’s nuclear plants

  11. Opportunities • Merger with Constellation allows for EXC to add a countercyclical retail business • EXC advancing in China although for short period of time

  12. Threats • Remaining deregulated • Constellation deal would make EXC go through a lot of regulatory hurdles • If market power prices are capped or regulated Exelon’s will lose its main profit source

  13. Recommendations

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