Stock Update: Exelon Corporation (NYSE:EXC) – Washington, D.C. agency cannot agree to Pepco, Exelon proposals on merger

[Reuters] – A Washington, D.C. agency that advocates for utility customers rejected on Friday a possible compromise that would allow power company Exelon Corp to merge with Pepco Holdings Inc. The companies need permission to merge from the various public service commissions where they operate, and have been unsuccessful in winning over Washington despite offering a $78 million payment to the U.S. capital. In the most recent development in what has become an extended back and forth between the companies and various agencies, Washington’s Office of the People’s Counsel, which advocates for utility customers, said it could not sign on to a compromise developed by Exelon and Pepco because it felt it did not do enough to protect Washington’s poorest. Read more on this. Exelon Corporation (EXC) , valued at $31.95B, started the session at $34.93. Today’s price range has been between $34.44 and $34.98 per share and has traded between $25.09 and $34.98 over the past year. EXC shares are currently priced at 13.73x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 16.21x earnings multiple. The company pays shareholders $1.24 per share in dividend income per year, for a current yield of 3.66%. In a review of the consensus earnings estimate this quarter, 6 sell-side analysts are looking at $0.74 per share, which would be $0.03 better than the year-ago quarter and a $0.03 sequential decrease. Investors should also note that the full-year EPS estimate of $2.53 is a $0.04 better when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $6.00 Billion. If realized, that would be a 30.56% decrease over the year-ago quarter. In terms of ratings, Argus upgraded EXC from Hold to Buy (Mar 7, 2016). Previously, Citigroup downgraded EXC from Neutral to Sell. With the above information in mind, readers should note that the average price target is $34.00, which is 2.66% below where the stock opened this morning. See more in (NYSE:EXC) Similar Articles: Market Update: Exelon Corporation (NYSE:EXC) – Pepco Holdings and Exelon Make Filing to Provide Several Pathways to Secure Merger’s Significant Benefits for Pepco Customers Stock Update: Exelon Corporation (NYSE:EXC) – Pepco Holdings and Exelon Reach Merger Settlement with District of Columbia Government Market Update: Exelon Corporation (NYSE:EXC) – Exelon and Pepco Holdings File for Reconsideration of Their Merger