5 Biggest Electrical Companies in the USA

3. Exelon Corporation (NASDAQ:EXC)

Number of Hedge Fund Holders: 43

Exelon Corporation (NASDAQ:EXC) is an American electric power and natural gas company. In 2021, it was the largest electric parent company in the United States by revenue. The company also offers legal, human resources, information technology, financial, and supply management services.

In Q3, hedge funds were rushing to buy Exelon Corporation (NASDAQ:EXC) shares. According to the Insider Monkey database, 43 hedge funds brought the company into their portfolios, compared to just 32 in the previous quarter. GQG Partners remained the most significant shareholder of the company in Q3 with over $800 million worth of shares. On top of that, Citadel Investment Group increased its holdings in the company by 1562% to $130 million worth of shares and became the second largest shareholder in Exelon Corporation (NASDAQ:EXC).

On October 18, BMO Capital analyst James Thalacker reaffirmed an Outperform rating on Exelon Corporation (NASDAQ:EXC)’s shares and lowered the price target to $41 from $51. In addition, according to BofA Global Research, the company earnings can surge by 10% at the end of this year.

Here is what ClearBridge Investments had 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).”