New York, March 4, 2026, 14:37 EST — Regular session
Exelon Corp (EXC.O) shares rose about 0.7% to $49.31 in afternoon trade on Wednesday, after moving between $48.65 and $49.32 earlier in the session.
The stock is trading against a rates backdrop that has stayed jumpy for dividend-heavy utilities. The 10-year U.S. Treasury yield was about 4.082%, up from 4.056% on Tuesday, according to Tradeweb data cited by The Wall Street Journal. 1
KeyBanc analyst Sophie Karp raised the firm’s price target on Exelon to $44 from $39 and kept an Underweight rating — a call that implies the stock could lag peers — TheFly reported. 2
Utilities were modestly higher alongside the broader market. The Utilities Select Sector SPDR ETF was up about 0.6%, while the SPDR S&P 500 ETF gained about 0.9%; Duke Energy, NextEra Energy and Southern Co. also traded higher.
Exelon has a dividend date coming up, too. The company said it declared a quarterly dividend of $0.42 per share, payable March 13 to shareholders of record as of March 2. “With a $41.3 billion four-year capital plan and 7.9% rate base growth, we are well-positioned to deliver annualized earnings growth,” CFO Jeanne Jones said in the earnings release. (Rate base is the pool of assets regulators allow a utility to earn a return on.) 3
In February, Exelon forecast 2026 adjusted profit — a measure that strips out certain items — of $2.81 to $2.91 per share after beating fourth-quarter estimates, citing higher electricity rates and rising power demand. “We need to focus on supply because we know it will lower electric costs,” Chief Legal Officer Colette Honorable said on the post-earnings call. 4
Exelon is a regulated utility holding company with electricity and gas delivery businesses across the Mid-Atlantic and Midwest, including ComEd in Illinois and PECO in Pennsylvania. 5
But utilities don’t get a pass when rates move. If Treasury yields push higher again, investors can rotate away from steady-dividend names, and regulators can still squeeze returns by taking a harder line on customer bills.
Traders will watch Friday’s U.S. employment report for fresh clues on rates, and whether the utility bid holds into Exelon’s March 13 dividend payment.
