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Exelon Arm Delivers 1,200 Projects in Q3, Boosts Infrastructure
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Exelon Corporation (EXC - Free Report) announced that its electric and natural gas utility subsidiary, PECO Energy Company (PECO), has completed nearly 1,200 projects in the third quarter of 2016. These project completions will enable PECO to improve the quality of services offered to natural gas and electric customers. Specifically, PECO has closed around 1,000 natural gas projects and more than 200 electric projects to strengthen the existing infrastructure.
Note that PECO invests nearly $500 million annually to upgrade existing infrastructure through equipment upgrades and preventive maintenance to ensure high-quality services for its base of 1.6 million electric and more than 511,000 natural gas customers in southeastern Pennsylvania.
Investment Plans
In addition to its usual capital expenditure budget, PECO aims to invest another $275 million during the next five years under the PECO System 2020 Plan. This plan aims to install advanced equipment and strengthen the local electric system, making it more weather and storm resistant.
Exelon’s Capital Plans
Exelon is on track with its systematic capital investment plan, through which it aims to offer high-quality services to its 10 million customers across the nation. Exelon plans to invest nearly $25.3 billion over the 2016–2020 time period, including $24.5 billion allocated for the Electric Transmission, Electric Distribution and Gas Delivery systems. Such systematic investments in regulated assets will drive earnings growth of 7% to 9% and rate base growth of 6.1% during this timeframe.
Exelon also acknowledges the importance of zero-carbon electricity generation and is actively working on lowering emission from its generation fleet. To this end, the company has continued operations of its nuclear plants as they ensure cost-effective, non-polluting energy solutions.
Price Movement
Over the last one year, Exelon has outperformed the Zacks categorized Utility-Electric Power industry. During this period, the company’s shares have gained 25.9%, compared with the industry’s return of 4.8%.
Contribution from the Pepco Holdings acquisition and Exelon’s consistent investments to strengthen its infrastructure, along with its decision to shut down the loss-making nuclear plants will drive the company’s performance.
Zacks Rank & Other Key Picks
Exelon currently has a Zacks Rank #2 (Buy). Other favorably placed stocks in the same space include Ameren Corporation (AEE - Free Report) , SCANA Corporation and DTE Energy Co. (DTE - Free Report) .
Ameren sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. Its earnings surpassed the Zacks Consensus Estimate by 10.1% in the last reported quarter. For 2016, estimates improved 6.3% to $2.70 in the last 60 days.
SCANA Corporation, another Zacks Rank #1 stock, surpassed the Zacks Consensus Estimate by 25.7% in the last reported quarter. Its 2016 estimates improved 1.2% to $4.15 in the last 60 days.
DTE Energy carries a Zacks Rank #2. The company’s earnings surpassed the Zacks Consensus Estimate by 27.3% in the last reported quarter. Its 2016 estimates improved by a penny to $5.27 in the last 60 days.
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Exelon Arm Delivers 1,200 Projects in Q3, Boosts Infrastructure
Exelon Corporation (EXC - Free Report) announced that its electric and natural gas utility subsidiary, PECO Energy Company (PECO), has completed nearly 1,200 projects in the third quarter of 2016. These project completions will enable PECO to improve the quality of services offered to natural gas and electric customers. Specifically, PECO has closed around 1,000 natural gas projects and more than 200 electric projects to strengthen the existing infrastructure.
Note that PECO invests nearly $500 million annually to upgrade existing infrastructure through equipment upgrades and preventive maintenance to ensure high-quality services for its base of 1.6 million electric and more than 511,000 natural gas customers in southeastern Pennsylvania.
Investment Plans
In addition to its usual capital expenditure budget, PECO aims to invest another $275 million during the next five years under the PECO System 2020 Plan. This plan aims to install advanced equipment and strengthen the local electric system, making it more weather and storm resistant.
Exelon’s Capital Plans
Exelon is on track with its systematic capital investment plan, through which it aims to offer high-quality services to its 10 million customers across the nation. Exelon plans to invest nearly $25.3 billion over the 2016–2020 time period, including $24.5 billion allocated for the Electric Transmission, Electric Distribution and Gas Delivery systems. Such systematic investments in regulated assets will drive earnings growth of 7% to 9% and rate base growth of 6.1% during this timeframe.
Exelon also acknowledges the importance of zero-carbon electricity generation and is actively working on lowering emission from its generation fleet. To this end, the company has continued operations of its nuclear plants as they ensure cost-effective, non-polluting energy solutions.
Price Movement
Over the last one year, Exelon has outperformed the Zacks categorized Utility-Electric Power industry. During this period, the company’s shares have gained 25.9%, compared with the industry’s return of 4.8%.
Contribution from the Pepco Holdings acquisition and Exelon’s consistent investments to strengthen its infrastructure, along with its decision to shut down the loss-making nuclear plants will drive the company’s performance.
Zacks Rank & Other Key Picks
Exelon currently has a Zacks Rank #2 (Buy). Other favorably placed stocks in the same space include Ameren Corporation (AEE - Free Report) , SCANA Corporation and DTE Energy Co. (DTE - Free Report) .
Ameren sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. Its earnings surpassed the Zacks Consensus Estimate by 10.1% in the last reported quarter. For 2016, estimates improved 6.3% to $2.70 in the last 60 days.
SCANA Corporation, another Zacks Rank #1 stock, surpassed the Zacks Consensus Estimate by 25.7% in the last reported quarter. Its 2016 estimates improved 1.2% to $4.15 in the last 60 days.
DTE Energy carries a Zacks Rank #2. The company’s earnings surpassed the Zacks Consensus Estimate by 27.3% in the last reported quarter. Its 2016 estimates improved by a penny to $5.27 in the last 60 days.
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>