BlackRock Inc. reduced its stake in Xcel Energy Inc. (NYSE:XEL) by 3.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 40,355,960 shares of the utilities provider’s stock after selling 1,283,995 shares during the quarter. BlackRock Inc. owned 7.95% of Xcel Energy worth $1,851,530,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of XEL. Parallel Advisors LLC lifted its holdings in shares of Xcel Energy by 1.6% in the 2nd quarter. Parallel Advisors LLC now owns 2,227 shares of the utilities provider’s stock worth $105,000 after acquiring an additional 36 shares during the last quarter. Carroll Financial Associates Inc. lifted its holdings in shares of Xcel Energy by 14.5% in the 2nd quarter. Carroll Financial Associates Inc. now owns 2,365 shares of the utilities provider’s stock worth $108,000 after acquiring an additional 300 shares during the last quarter. Founders Capital Management acquired a new position in shares of Xcel Energy in the 1st quarter worth approximately $124,000. Sharkey Howes & Javer lifted its holdings in shares of Xcel Energy by 0.5% in the 1st quarter. Sharkey Howes & Javer now owns 2,994 shares of the utilities provider’s stock worth $133,000 after acquiring an additional 16 shares during the last quarter. Finally, Dupont Capital Management Corp acquired a new position in shares of Xcel Energy in the 2nd quarter worth approximately $135,000. Hedge funds and other institutional investors own 73.05% of the company’s stock.
Shares of Xcel Energy Inc. (NYSE XEL) traded down 0.55% during midday trading on Friday, reaching $48.83. 1,102,205 shares of the company traded hands. The company’s 50 day moving average is $48.87 and its 200-day moving average is $46.39. The stock has a market capitalization of $24.79 billion, a price-to-earnings ratio of 21.56 and a beta of 0.20. Xcel Energy Inc. has a 12 month low of $38.00 and a 12 month high of $50.56.
Xcel Energy (NYSE:XEL) last announced its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. Xcel Energy had a net margin of 10.08% and a return on equity of 10.42%. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.63 billion. During the same period in the previous year, the company posted $0.39 earnings per share. Xcel Energy’s revenue was up 5.8% compared to the same quarter last year. Equities research analysts forecast that Xcel Energy Inc. will post $2.20 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, September 15th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.93%. Xcel Energy’s dividend payout ratio (DPR) is presently 63.44%.
In other Xcel Energy news, EVP Kent T. Larson sold 10,000 shares of the business’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $47.25, for a total transaction of $472,500.00. Following the completion of the sale, the executive vice president now owns 80,221 shares in the company, valued at $3,790,442.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel Yohannes bought 1,000 shares of the stock in a transaction on Tuesday, September 5th. The shares were acquired at an average price of $49.53 per share, with a total value of $49,530.00. Following the purchase, the director now owns 1,000 shares of the company’s stock, valued at $49,530. The disclosure for this purchase can be found here. 0.22% of the stock is currently owned by insiders.
Several equities analysts have recently commented on the stock. Morgan Stanley upped their price objective on shares of Xcel Energy from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Friday, September 8th. Jefferies Group LLC restated a “hold” rating and issued a $50.00 price objective on shares of Xcel Energy in a report on Thursday, August 31st. BidaskClub upgraded shares of Xcel Energy from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 23rd. BMO Capital Markets upped their price objective on shares of Xcel Energy from $46.00 to $47.00 and gave the stock a “market perform” rating in a report on Friday, July 28th. Finally, Zacks Investment Research lowered shares of Xcel Energy from a “buy” rating to a “hold” rating in a report on Wednesday, June 28th. Ten research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Xcel Energy has a consensus rating of “Hold” and a consensus target price of $46.82.
Xcel Energy Company Profile
Xcel Energy Inc is a public utility holding company. The Company’s operations include the activity of four utility subsidiaries that serve electric and natural gas customers in eight states. The Company’s segments include regulated electric utility, regulated natural gas utility and all other. The Company’s utility subsidiaries include NSP-Minnesota, NSP-Wisconsin, Public Service Company of Colorado (PSCo) and Southwestern Public Service Co (SPS), which serve customers in portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin.
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