LifePro Asset Management lifted its stake in shares of Xcel Energy Inc. (NASDAQ:XEL – Get Rating) by 10.6% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 3,358 shares of the company's stock after buying an additional 323 shares during the quarter. LifePro Asset Management's holdings in Xcel Energy were worth $238,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of XEL. State Street Corp lifted its stake in shares of Xcel Energy by 7.9% during the 1st quarter. State Street Corp now owns 29,779,102 shares of the company's stock worth $2,163,350,000 after buying an additional 2,169,201 shares during the last quarter. Nuveen Asset Management LLC raised its stake in Xcel Energy by 44.4% in the 4th quarter. Nuveen Asset Management LLC now owns 5,881,414 shares of the company's stock worth $398,172,000 after purchasing an additional 1,807,448 shares in the last quarter. BlackRock Inc. raised its stake in Xcel Energy by 3.3% in the 4th quarter. BlackRock Inc. now owns 54,190,365 shares of the company's stock worth $3,668,687,000 after purchasing an additional 1,755,729 shares in the last quarter. Marshall Wace LLP raised its stake in Xcel Energy by 19,643.3% in the 4th quarter. Marshall Wace LLP now owns 1,579,861 shares of the company's stock worth $106,957,000 after purchasing an additional 1,571,859 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in Xcel Energy by 56.5% in the 1st quarter. Bank of America Corp DE now owns 4,108,940 shares of the company's stock worth $296,543,000 after purchasing an additional 1,482,671 shares in the last quarter. Institutional investors and hedge funds own 77.52% of the company's stock.
Get Xcel Energy alerts:Wall Street Analyst Weigh In
XEL has been the subject of several analyst reports. Credit Suisse Group dropped their price objective on shares of Xcel Energy to $77.00 in a research note on Thursday, June 9th. UBS Group dropped their price objective on shares of Xcel Energy from $74.00 to $71.00 and set a "neutral" rating for the company in a research note on Thursday, June 30th. Morgan Stanley lifted their price objective on shares of Xcel Energy from $69.00 to $74.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 23rd. Finally, Barclays dropped their price objective on shares of Xcel Energy from $82.00 to $78.00 and set an "overweight" rating for the company in a research note on Monday, July 18th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Xcel Energy presently has an average rating of "Moderate Buy" and an average price target of $74.40.
Xcel Energy Price Performance
Shares of NASDAQ:XEL traded down $0.89 during midday trading on Friday, hitting $71.56. The stock had a trading volume of 2,695,175 shares, compared to its average volume of 2,572,408. The company's 50-day moving average price is $74.87 and its 200-day moving average price is $71.84. The company has a market capitalization of $39.14 billion, a P/E ratio of 23.77, a price-to-earnings-growth ratio of 3.56 and a beta of 0.34. The company has a quick ratio of 0.86, a current ratio of 1.00 and a debt-to-equity ratio of 1.45. Xcel Energy Inc. has a fifty-two week low of $61.15 and a fifty-two week high of $77.66.Xcel Energy (NASDAQ:XEL – Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.60 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.60. The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.18 billion. Xcel Energy had a net margin of 11.66% and a return on equity of 10.45%. As a group, equities research analysts predict that Xcel Energy Inc. will post 3.17 EPS for the current fiscal year.
Xcel Energy Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Thursday, September 15th will be issued a dividend of $0.4875 per share. This represents a $1.95 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Wednesday, September 14th. Xcel Energy's dividend payout ratio (DPR) is presently 64.78%.
About Xcel Energy
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Xcel Energy Inc, through its subsidiaries, generates, purchases, transmits, distributes, and sells electricity. It operates through Regulated Electric Utility, Regulated Natural Gas Utility, and All Other segments. The company generates electricity through coal, nuclear, natural gas, hydroelectric, solar, biomass, oil, wood/refuse, and wind energy sources.
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