10 Best Electric Utility Stocks To Invest In

6. Exelon Corporation (NASDAQ:EXC)  

Number of Hedge Fund Holders: 37

Exelon Corporation (NASDAQ:EXC), based in Chicago, is a prominent energy provider with a diversified portfolio that includes nuclear, solar, wind, and natural gas generation assets. The company is also involved in energy distribution and transmission through its various subsidiaries.

In its third-quarter 2024 financial results, Exelon Corporation (NASDAQ:EXC) reported strong performance despite challenging weather conditions. The company achieved a GAAP net income of $0.70 per share and adjusted operating earnings of $0.71 per share, reaffirming both its full-year earnings guidance and long-term growth targets. ComEd, a key operating unit, saw significant increases in both GAAP and adjusted earnings, driven by favorable rate adjustments and regulatory returns. However, PECO experienced a decline in earnings due to rising expenses, while BGE maintained stable performance. Exelon’s management remains confident in its financial outlook, continuing to project earnings growth in line with its target of 5-7% annually through 2027.

The company is committed to infrastructure investment, with $34.5 billion allocated for energy infrastructure improvements. Additionally, Exelon is pursuing higher natural gas distribution rates in Delaware to fund these infrastructure investments.

As of the second quarter of 2024, 37 hedge funds held stakes in Exelon Corporation (NASDAQ:EXC), up from 28 in the previous quarter, according to Insider Monkey.