5 Best Electric Utility Stocks To Buy Right Now

3. Exelon Corporation (NASDAQ:EXC)

Number of Hedge Fund Holders: 37

Exelon Corporation (NASDAQ:EXC) operates in the energy distribution and transmission sectors in the United States and Canada. The company engages in the regulated retail sale of electricity and natural gas, as well as the transmission and distribution of electricity. Exelon ranks 3rd on our list of the best electric utility stocks. On January 10, Mizuho upgraded Exelon Corporation (NASDAQ:EXC) stock from Neutral to Buy, with a price target of $39, up from $36. This upgrade is attributed to Mizuho’s perception of conservative earnings and capital assumptions by Exelon, particularly in response to the negative decision made in Illinois last month.

According to Insider Monkey’s fourth quarter database, 37 hedge funds were long Exelon Corporation (NASDAQ:EXC), compared to 36 funds in the last quarter. Eric W. Mandelblatt’s Soroban Capital Partners is the leading stakeholder of the company, with nearly 8 million shares worth $286 million. 

Here is what ClearBridge Investments Global Infrastructure Value Strategy has to say about Exelon Corporation (NASDAQ:EXC) in its Q1 2022 investor letter:

“U.S. electric utility Exelon (NASDAQ:EXC) was also a top contributor. Exelon is a pure transmission and distribution regulated utility business serving millions of electric and gas customers across Delaware, Illinois, Maryland, New Jersey, Pennsylvania and the District of Columbia. Shares outperformed along with the utilities sector; Exelon is also starting to be viewed as a premium name after its recently completed spin-off of power generation business Constellation Energy (NASDAQ:CEG).”