NEW YORK (TheStreet) -- Exelon Corp (EXC) shares are down 0.83% to $35.63 on Thursday despite the New York Public Commission's unanimous approval of the nuclear energy provider's bid to continue its negotiating efforts to raise its energy prices in upstate New York.
The commission voted its approval of the energy company's request to begin talks with Iberdrola SA's Rochester Gas & Electric about raising energy prices in an effort to keep its R.E. Ginna nuclear plant in Ontario, New York operating.
The plant is one of four owned by Exelon that is in danger of being shutdown because of the losses the company incurs selling power on wholesale markets. The company, the largest operator of nuclear reactors in the U.S., wants to win approval to raise prices on customers of Rochester Gas & Electric to ensure the reliability of their energy services.
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TheStreet Ratings team rates EXELON CORP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate EXELON CORP (EXC) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows weak operating cash flow."