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Exelon serves approximately 10 million power and gas customers at its six regulated utilities in Illinois, Pennsylvania, Maryland, New Jersey, Delaware, and Washington, D.C.

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EXELON ORD

"Exelon delivered another quarter of strong financial performance, with third quarter adjusted operating earnings of $0.71 per share, and we remain on track to meet our full year earnings guidance of $2.40 to $2.50 per share," said Exelon Chief Financial Officer Jeanne Jones.

Earnings

News

Guidance

Exelon Reaffirms Its 2024 Outlook; Sees Adj. EPS Of $2.40-$2.50 Vs $2.45 Estimate

Exelon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXC#NASDAQ">EXC</a>) reported quarterly earnings of $0.71 per share which beat the analyst consensus estimate of $0.67 by 5.97 percent. This is a 5.97 percent increase over earnings of $0.67 per share from the same period last year. The company reported quarterly sales of $6.154 billion which beat the analyst consensus estimate of $5.854 billion by 5.12 percent. This is a 2.91 percent increase over sales of $5.980 billion the same period last year.

Earnings Beats

Exelon Q3 2024 Adj. EPS $0.71 Beats $0.67 Estimate, Sales $6.154B Beat $5.854B Estimate

Barclays analyst Nicholas Campanella maintains Exelon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXC#NASDAQ">EXC</a>) with a Overweight and raises the price target from $41 to $44.

Price Target

Analyst Ratings

Barclays Maintains Overweight on Exelon, Raises Price Target to $44

Morgan Stanley analyst David Arcaro maintains Exelon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXC#NASDAQ">EXC</a>) with a Equal-Weight and raises the price target from $42 to $45.

Morgan Stanley Maintains Equal-Weight on Exelon, Raises Price Target to $45

Recent developments suggest that Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) may be <a href="https://www.benzinga.com/markets/equities/24/07/39568237/tech-giants-eye-nuclear-power-to-fuel-ai-boom-raising-concerns-over-stability-and-environmental-" target="_blank" rel="noreferrer noopener">ramping up its interest in nuclear energy</a> to fuel its growing needs.
The tech giant has reposted a job <a target="_blank" href="https://www.linkedin.com/jobs/view/principal-nuclear-engineer-datacenter-engineering-power-generation-solutions-at-amazon-web-services-aws-4007936223" rel="noreferrer noopener">opening</a> for a Principal Nuclear Engineer in its Data Center Engineering division, raising questions about its long-term energy strategy.
Nano Nuclear Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NNE#NASDAQ">NNE</a>), an emerging microreactor technology company, cited the opening in a social media <a href="https://x.com/nano_nuclear/status/1827024271731802146" target="_blank" rel="noreferrer noopener">post</a> on X, formerly Twitter.
Why This Is Important: The opening by Amazon comes shortly after Talen Energy agreed to sell a 960-megawatt data center campus to Amazon Web Services (AWS) for $650 million earlier this year, which includes a decade-long electricity supply agreement from the Susquehanna nuclear power station.
This particularly highlights Amazon&#8217;s commitment to clean, carbon-free energy sources.
An Amazon spokesperson <a href="https://www.ans.org/news/article-5842/amazon-buys-nuclearpowered-data-center-from-talen/" target="_blank" rel="noreferrer noopener">told the</a> American Nuclear Society, &#8220;To supplement our wind and solar energy projects, which depend on weather conditions to generate energy, we&#8217;re also exploring new innovations and technologies and investing in other sources of clean, carbon-free energy. This agreement with Talen Energy for carbon-free energy is one project in that effort.&#8221;
Also Read: <a href="https://www.benzinga.com/government/24/03/37627399/amazons-shot-at-nuclear-power-play-will-the-tech-giants-latest-move-redefine-green-energy-for-data-c" target="_blank" rel="noreferrer noopener">Amazon&#8217;s Shot At Nuclear Power Play &#8211; Will The Tech Giant&#8217;s Latest Move Redefine Green Energy for Data Centers?</a>
In a report <a href="https://www.aboutamazon.com/news/sustainability/amazon-renewable-energy-updates" target="_blank" rel="noreferrer noopener">released</a> on July 10, Amazon announced that it has achieved its goal of sourcing 100% of the electricity used across its global operations — including data centers, corporate offices, grocery stores, and fulfillment centers — from renewable energy, a target initially set for 2030. The company plans to continue investing in solar and wind projects while exploring nuclear power and battery storage to sustain its energy needs.
Why The Nuclear-Energy Interest May Be Controversial
Amazon&#8217;s nuclear ambitions are not without controversy.
Following the agreement with Talen Energy, utility companies American Electric Power Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEP#NASDAQ">AEP</a>) and Exelon Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXC#NASDAQ">EXC</a>) formally objected to the Federal Energy Regulatory Commission (FERC), claiming that the electricity arrangement allows Amazon to benefit from the power grid without contributing to its maintenance costs, a <a href="https://www.ans.org/news/article-6180/aep-exelon-ask-ferc-to-scrutinize-amazontalen-data-center-deal/">report </a>by the American Nuclear Society suggests.
They argue this could lead to increased expenses for other PJM ratepayers, as the data center&#8217;s power usage is indirectly linked to the grid&#8217;s resources. PJM ratepayers are&nbsp;customers of the Pennsylvania-New Jersey-Maryland Interconnection (PJM).&nbsp;
That&#8217;s not all!
A March <a href="https://heatmap.news/technology/amazon-nuclear-talen-energy">report</a> by Heat Map suggests that a divide has emerged among tech giants regarding energy strategies, with Amazon focusing on securing low-cost power without prioritizing new carbon-free sources, while Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) and Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) aim for comprehensive carbon-free energy solutions.
Microsoft and Google have shown increased interest in nuclear power to ensure a stable electricity supply, reflecting a broader commitment to sustainable energy practices.
As Amazon moves forward with its nuclear initiatives, the intersection of innovation and regulatory scrutiny will play a crucial role in shaping its energy strategy.
The company&#8217;s hiring of nuclear engineers underscores its serious intentions in this space, but the implications of these decisions could significantly affect its relationships within the energy sector.
Will Amazon&#8217;s foray into nuclear power pave the way for a more sustainable future, or complicate its standing in an already complex energy landscape?
According to&nbsp;<a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>, AMZN stock has gained over 48% in the past year. Investors can gain exposure to the stock via ProShares Online Retail ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ONLN#NYSE">ONLN</a>) and&nbsp;Fidelity MSCI Consumer Discretionary Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDIS#NYSE">FDIS</a>).
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Amazon Going Nuclear? Hiring Plans Indicate Company May Be Eyeing Nuclear To Meet Energy Needs

CC Lagator, co-founder of Options AI, shared his insights on the Friday&#8217;s episode of <a href="https://www.benzinga.com/premarket-prep">Benzinga&#8217;s PreMarket Prep</a>, cautioning traders to prepare for increased volatility in the week <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40948624/traders-brace-for-friday-volatility-as-over-5-trillion-in-options-expire-could-trip">following September&#8217;s &#8220;triple witching.&#8221; </a>
Hosted by Aaron Bry and Dennis Dick, the discussion highlighted how the massive expiration of key options contracts can drive unusual market activity and set the stage for turbulence ahead.
Triple witching, which occurs quarterly on the third Friday of March, June, September, and December, is when stock index futures, stock index options, and individual stock options expire simultaneously. 
This event often creates market turbulence, as traders scramble to close, roll over, or offset expiring contracts. 
Over $5 trillion in notional options, including $605 billion in single-stock options, are expected to expire during Friday's session.
Historically, triple witching has led to increased volatility and unusual price movements. The S&amp;P 500, tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), closed in the red on the last three triple witching days:
<ul>
<li>June 21, 2024: S&amp;P 500 fell by 0.5%.</li>
<li>March 15, 2024: S&amp;P 500 dropped by 1%.</li>
<li>Dec. 15, 2023: S&amp;P 500 declined by 0.6%.</li>
</ul>
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Witching Day &#x7C; PreMarket Prep" width="500" height="281" src="https://www.youtube.com/embed/Zq0gm-YmwUM?start=2238&#038;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
<h2 class="wp-block-heading">Historical Weakness Post-Witching Week</h2>
During his appearance on <a href="https://www.benzinga.com/premarket-prep">Benzinga PreMarket Prep</a>, CC Lagator explained how the convergence of expiring options impacts the market.
&#8220;You might see some imbalances that you wouldn&#8217;t have seen on a normal day at the open,&#8221; CC Lagator said, highlighting how trading activity starts to unwind a couple of days before but accelerates toward the close of the session.
This often stems from big hedge funds and mutual funds rolling options positions into the next month, which can lead to increased volatility. He further noted that the market environment shifts drastically after triple witching, with traders facing a completely new landscape in the following week.
&#8220;Next week historically is a terrible week going back decades,&#8221; Lagator said, noting that the week after triple witching in September has rarely shown positive returns over the last 30 years.
With volatility expected to pick up, he cautioned that traders should brace for a challenging week due to the impact of unwinding positions on the broader market.
The conversation also turned to the Volatility Index (VIX), often referred to as the &#8220;fear gauge,&#8221; which CC Lagator described as being relatively low and attractive for call option buyers at these levels. 
&#8220;The VIX is at 16 right now, it&#8217;s not high,&#8221; CC Lagator stated, adding that it trades below its long-term average of 19. 
&#8220;If this was July and we were at all-time highs, the VIX would probably be 13,&#8221; he noted, attributing the slight uptick to recent market events and the seasonal volatility that accompanies the fall months. 
&#8220;For traders looking at the next month and a half, there&#8217;s not much worry about volatility dropping much lower than where it is now,&#8221; Lagator predicted, adding that &#8220;we're probably not seeing it hit 12 until Christmas.&#8221;
Lagator advised that traders could use this period of low volatility to their advantage when considering options positions. 
&#8220;If you were buying at-the-money options right now, you probably don&#8217;t have much to worry about in terms of volatility going much lower,&#8221; he said, emphasizing the stability of current volatility levels as a potential buying opportunity for those seeking to hedge or position themselves for a breakout.
A similar view has also been shared by Goldman Sachs, which estimates that, given macroeconomic conditions, the VIX should be at 24.5 points.
The investment bank issued a recommendation for investors to hedge their portfolios using VIX calls. Specifically, Goldman Sachs analysts advise buying CBOE Volatility Index (VIX) November calls at a strike price of 18.
<h2 class="wp-block-heading">S&amp;P 500&#8217;s 5 Top Gainers, 5 Worst Laggards After Friday&#8217;s Market Open</h2>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>Chg %</td>
</tr>
<tr>
<td>Constellation Energy Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>)</td>
<td>13.34%</td>
</tr>
<tr>
<td>Vistra Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>)</td>
<td>7.67%</td>
</tr>
<tr>
<td>NIKE, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>)</td>
<td>6.07%</td>
</tr>
<tr>
<td>CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>)</td>
<td>4.47%</td>
</tr>
<tr>
<td>Exelon Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXC#NASDAQ">EXC</a>)</td>
<td>2.35%</td>
</tr>
</tbody>
</table>
</figure>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>Chg %</td>
</tr>
<tr>
<td>FedEx Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>)</td>
<td>-14.68%</td>
</tr>
<tr>
<td>Old Dominion Freight Line, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NYSE">ODFL</a>)</td>
<td>-4.72%</td>
</tr>
<tr>
<td>Viatris Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTRS#NYSE">VTRS</a>)</td>
<td>-4.66%</td>
</tr>
<tr>
<td>Lennar Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>)</td>
<td>-4.61%</td>
</tr>
<tr>
<td>ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>)</td>
<td>-4.43%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Data as of 10:00 a.m. ET</figcaption></figure>
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EXCLUSIVE: Options Expert Warns Of 'Terrible Week' After Friday's Triple Witching

WIIM

Exelon shares are trading higher after Jefferies initiated coverage on the stock with a Buy rating and announced a price target of $46. Also, UBS raised its price target from $40 to $43.

UBS analyst Daniel Ford maintains Exelon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXC#NASDAQ">EXC</a>) with a Neutral and raises the price target from $40 to $43.

UBS Maintains Neutral on Exelon, Raises Price Target to $43

Jefferies analyst Julien Dumoulin-Smith initiates coverage on Exelon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXC#NASDAQ">EXC</a>) with a Buy rating and announces Price Target of $46.

Initiation

Jefferies Initiates Coverage On Exelon with Buy Rating, Announces Price Target of $46

Morgan Stanley analyst David Arcaro maintains Exelon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXC#NASDAQ">EXC</a>) with a Equal-Weight and raises the price target from $39 to $42.

Morgan Stanley Maintains Equal-Weight on Exelon, Raises Price Target to $42

Scotiabank analyst Andrew Weisel maintains Exelon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXC#NASDAQ">EXC</a>) with a Sector Perform and raises the price target from $37 to $40.

Scotiabank Maintains Sector Perform on Exelon, Raises Price Target to $40

Wells Fargo analyst Neil Kalton maintains Exelon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXC#NASDAQ">EXC</a>) with a Equal-Weight and raises the price target from $40 to $42.

Wells Fargo Maintains Equal-Weight on Exelon, Raises Price Target to $42

Exelon Reaffirms FY24 Adj. EPS $2.40-$2.50 Vs $2.44 Est.

Exelon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXC#NASDAQ">EXC</a>) reported quarterly earnings of $0.47 per share which beat the analyst consensus estimate of $0.40 by 17.5 percent. The company reported quarterly sales of $5.361 billion which beat the analyst consensus estimate of $4.897 billion by 9.47 percent. This is a 11.27 percent increase over sales of $4.818 billion the same period last year.

Exelon Q2 2024 Adj. EPS $0.47 Beats $0.40 Estimate, Sales $5.361B Beat $4.897B Estimate

Clean energy company Sunrun (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>) is behind the first vehicle-to-home power plant in the nation, using customer <a href="https://www.benzinga.com/electric-vehicles">owned electric vehicles.</a>
What Happened: In an effort to alleviate demand on the electrical grid, Sunrun is utilizing F-150 Lightning electric pickup trucks owned by its energy customers for this innovative power plant.
The <a href="https://investors.sunrun.com/news-events/press-releases/detail/318/sunrun-launches-nations-first-vehicle-to-home-grid">partnership </a>includes Sunrun, Ford Motor Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), and Baltimore Gas and Electric Company (BGE), which is a subsidiary of Exelon Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXC#NASDAQ">EXC</a>). BGE is the largest utility in Maryland, where the vehicle-to-home power plant operation takes place.
The power plant uses a small group of customer-owned bidirectional electric vehicles, which are all F-150 Lightning vehicles. The power from the trucks helps power homes during the peak demand times in the summer months to help Maryland's power grid.
Three Sunrun customers are currently part of the operation. The customers' F-150 Lightning trucks are sharing stored energy from 5 p.m. to 9 p.m. on weekdays from June 1 to Sept. 30, as part of the program. The customers will earn an estimated $800 a month for the four months in the program.
"This program is the first operational bidirectional electric vehicle power plant in the United States that uses a cohort of customer vehicles," a press release reads.
Read Also: <a href="https://www.benzinga.com/news/24/07/39783196/will-electric-vehicles-reach-50-market-share-in-us-by-2030-new-data-says-yes">Will Electric Vehicles Reach 50% Market Share In US By 2030? New Data Says Yes</a>
 Why It's Important: BGE received grant funding from the Department of Energy to create the virtual power plant. The utility company partnered with Sunrun to develop the program.
"This program is a significant proof of concept – no other market layer has done this – and the goal is to expand these programs all around the country," Sunrun CEO Mary Powell said. "This exciting partnership lays the foundation for the power grid of the future where electric vehicle owners can contribute to grid resiliency and utility price stability for everyone."
The new program is met to show that electric vehicles can reduce demand on the power grid.
"Partnering with Sunrun will allow BGE to unlock and learn the potential of how vehicle-to-grid programs will support increasing grid efficiency and reliability with distributed energy resources, while providing a valuable new benefit to customers," BGE Vice President of Regulatory Policy and Strategy Mark Case said.
Sunrun has <a href="https://www.benzinga.com/news/21/05/21214974/sunrun-shares-rise-on-ford-f-150-lightning-partnership-what-investors-should-know">worked with Ford Motor Company,</a> the company behind the F-150 Lightning truck, previously. The companies partnered for Sunrun to be the preferred installer for Ford Intelligent Backup Power, the first commercially available bidirectional system in the U.S.
"The ability of Ford's F-150 Lightning to support the electric grid and generate revenue for the owner while parked at home is a game-changing moment for electric vehicles in Maryland and nationwide as other manufacturers will follow," Maryland state delegate David Fraser-Hidalgo said.
Electric vehicle company Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has seen a boost to its Tesla Energy segment, with second-quarter results hitting a record for revenue and gross profits for the segment. Tesla deployed 9.4 GWh of energy storage in <a href="https://www.benzinga.com/news/earnings/24/07/39918390/tesla-q2-earnings-highlights-revenue-beat-eps-miss-robotaxi-update-2024-growth-rate-to-be-notably-l">the second quarter.</a>
Tesla is another company <a href="https://www.benzinga.com/news/23/03/31387298/a-house-equipped-with-tesla-solar-roof-earns-350-a-month-for-owner">working to highlight</a> the benefits of virtual power plants and using electric vehicles for energy generation to save on costs and provide power during blackouts and natural disasters. 
The benefits of owning an electric vehicle and its ability to help with energy generation could be a future catalyst for the sector.
RUN Price Action: Sunrun shares are up 2.5% to $16.74 on Tuesday, versus a 52-week trading range of $8.43 to $22.16. Sunrun shares are up 45% over the last month.
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Sunrun Launches Nation's First Vehicle-To-Home Power Plant With Ford's Help To Revolutionize The Grid

Sunrun (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>), the nation's leading provider of clean energy as a subscription service, is now operating the nation's first vehicle-to-home power plant using a small group of customer-owned bidirectional electric vehicles. In partnership with Maryland's largest utility, Baltimore Gas and Electric Company (BGE), a subsidiary of Exelon Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXC#NASDAQ">EXC</a>), the regulator-approved initiative utilizes all-electric Ford F-150 Lightning trucks to deliver power to owners' homes this summer during peak demand times to support Maryland's power grid.

Global

Sunrun Launches Vehicle-To-Home Grid Support In Maryland Using Ford F-150 Lightning Trucks

Barclays analyst Nicholas Campanella maintains Exelon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXC#NASDAQ">EXC</a>) with a Overweight and raises the price target from $39 to $41.

Barclays Maintains Overweight on Exelon, Raises Price Target to $41

Exelon's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXC#NYSE">EXC</a>) short percent of float has risen 64.94% since its last report. The company recently reported that it has 25.38 million shares sold short, which is 2.54% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.72 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Exelon Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720031421_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Exelon has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Exelon's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Exelon's peer group average for short interest as a percentage of float is 2.59%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Peering Into Exelon's Recent Short Interest

Talen Statement On Exelon/AEP Objection To Susquehanna ISA; Says "Talen Has Right As A Competitive Generation Company To Contract With AWS To Sell Long-Term, Committed Power"

FirstEnergy Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fe#NYSE">FE</a>) and its transmission subsidiaries completed the necessary inspection and maintenance of its transmission system. The idea was to ensure that FE&#39;s transmission lines could operate efficiently during the summer, and potentially severe weather and hurricanes that come with the season. 
The National Oceanic and Atmospheric Administration has predicted an 85% chance of an above-normal hurricane season, with 17-25 named storms and eight to 13 hurricanes, including four to seven major hurricanes. FE&#39;s unit Jersey Central Power &amp; Light&#39;s crews are prepared to respond in the event of severe weather or hurricanes that may affect the area this summer. 
FirstEnergy uses thermovision cameras to take infrared pictures of electrical equipment, assisting in the identification of possible issues in power lines and substations. Utility workers complete more detailed inspections and make repairs in these areas to prevent potential power outages.
<h3>Need for Investments &amp; Maintenance</h3>
The company&#39;s strategic investment is focused on infrastructure upgrades that should help serve its customers more efficiently. FirstEnergy&#39;s &lsquo;Energize365&#39; is a multi-year grid evolution platform, focused on enhancing customer experience while maintaining its strong affordability position with rates at or below its in-state peers. With planned investments of $26 billion between 2024 and 2028, the company is set to install advanced equipment and technologies that will strengthen and modernize its transmission and distribution infrastructure. 
A rise in temperature not only increases the demand for electricity but also poses a threat to electric infrastructure due to overheating, amplifying the risk of equipment failures and fires. These inspections and maintenance tasks are crucial to maintaining service reliability and ensuring customer satisfaction. 
This spring, helicopter patrols inspected almost 6,170 miles of high-voltage power lines, in addition to routine visual inspections conducted from the ground. The purpose of the inspections is to search for equipment issues that are not apparent from the ground. Any potential reliability issues identified during the inspections are addressed as quickly as possible. 
Since the beginning of the year, tree contractors have trimmed along 4,415 miles of power lines as part of FirstEnergy&#39;s vegetation management program. Work remains on schedule to complete an additional 8,860 miles by the end of the year. Maintaining proper clearances around electrical equipment is critical to providing safe, reliable electric service. It can also help reduce the frequency and duration of tree-related power outages. 
These initiatives should increase the possibility of providing uninterrupted electricity to customers even during storms and hurricanes, and generate more earnings for the company.
<h3>Utilities&#39; Focus on Infrastructure Upgrade</h3>
In order to provide reliable services to customers, utilities make systematic investments to upgrade transmission and distribution lines and develop new substations. The objective is to warrant a proper supply of electricity to millions of customers across the United States. 
Along with FirstEnergy, other electric power companies like Dominion Energy (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/d#NYSE">D</a>), Exelon Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/exc#NASDAQ">EXC</a>) and Xcel Energy, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/xel#NASDAQ">XEL</a>), are adopting measures to strengthen their existing infrastructure. 
In June 2024, D&#39;s unit, Dominion Energy Virginia, completed burying 2,000 miles of overhead power lines, which is part of the company&#39;s Strategic Underground Program. The shifting of power lines underground should lower storm-related outages and reduce the time for power restoration in outage-prone areas during the hurricane season. 
D&#39;s long-term (three to five years) earnings growth rate is 13.6%. The Zacks Consensus Estimate for 2024 earnings per share&nbsp;implies a year-over-year improvement of 38.2%. 
Exelon invests substantially in infrastructure projects and plans to invest nearly $34.5 billion during 2024-2027 in regulated utility operations. The company is set to invest $21 billion in electric distribution and $9.7 billion in electric transmission in the 2024-2027 time frame to further strengthen its operations. 
EXC&#39;s long-term earnings growth rate is 5.7%. The Zacks Consensus Estimate for 2024 EPS implies a year-over-year improvement of 1.7%. 
Xcel Energy plans to invest nearly $22.1 billion in further strengthening its electric distribution and transmission operations in the 2024-2028 time period. 
XEL&#39;s long-term earnings growth rate is 6.4%. The Zacks Consensus Estimate for 2024 EPS implies a year-over-year improvement of 6.3%.
<h3>Price Performance</h3>
In the past six months, shares of FirstEnergy have risen 6.3% against the industry&#39;s 2.3% decline.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/b0/69461.jpg?v=1980820209" /> 
Image Source: Zacks Investment Research
<h3>Zacks Rank</h3>
FirstEnergy currently carries a Zacks Rank #2 (Buy).
<a href="https://www.zacks.com/stock/news/2292684/firstenergy-fe-boosts-infrastructure-for-summer-heat-storms?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2292684">To read this article on Zacks.com click here.</a>

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