Stock Update: Exelon Corporation (NYSE:EXC) – RES Announces Sale of the Bluestem Wind Project to Exelon Generation

[PR Newswire] – BROOMFIELD, Colo., Jan. 20, 2016 /PRNewswire/ — Renewable Energy Systems (RES), a leader in the development, engineering, construction, and operation of wind, solar, transmission, and energy storage projects across the globe, is pleased to announce the sale of the Bluestem Wind Project to Exelon Generation, one of the nation’s leading power producers. Exelon Generation is the nation’s 12th largest wind producer with a combined 1,500 megawatts of wind generation and more under construction. The transaction closed on December 24, 2015 with a notice to proceed for construction being issued at that time. RES simultaneously executed the turbine supply agreement with Vestas. Construction of the project will begin immediately, providing up to 300 jobs during the peak of construction. Read more on this. Exelon Corporation (EXC) , with a current value of $24.63B, opened at $27.41. Today’s price range has been between $26.26 and $27.45 per share with the price of the stock fluctuating between $25.09 to $38.25 over the last 52 weeks. EXC shares are currently priced at 10.97x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 2.95x earnings multiple. And for passive income investors, the company pays shareholders $1.24 per share annually in dividends, yielding 4.44%. Consensus earnings for the current quarter by the 14 sell-side analysts covering the stock is an estimate of $0.42 per share, which would be $0.06 worse than the year-ago quarter and a $0.08 sequential decrease. The full-year EPS estimate is $2.52 which would be a $0.13 better than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $5.87 Billion. If realized, that would be a 15.42% decrease over the year-ago quarter. More recently, Scotia Howard Weil Initiated EXC at Sector Perform (Nov 17, 2015). Previously, Guggenheim upgraded EXC from Neutral to Buy. Given all the information above, we should disclose to readers that the average price target is $33.53, which is 22.33% above than it opened this morning. See more in (NYSE:EXC) Similar Articles: Company Update: Exelon Corporation (NYSE:EXC) – Exelon Corporation Declares Dividend Stock Update: Exelon Corporation (NYSE:EXC) – GE Hitachi and Exelon Generation Bring the Industrial Internet and Data Analytics to the Nuclear Industry Company Update: Exelon Corporation (NYSE:EXC) – Exelon Announces Outcome of 2016-17 PJM Transition Auction