Sumitomo Mitsui Asset Management Company LTD boosted its position in Xcel Energy Inc. (NYSE:XEL) by 1.6% during the second quarter, Holdings Channel reports. The institutional investor owned 38,869 shares of the company’s stock after buying an additional 630 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Xcel Energy were worth $1,740,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. GW Henssler & Associates Ltd. increased its stake in Xcel Energy by 2.8% in the second quarter. GW Henssler & Associates Ltd. now owns 75,581 shares of the company’s stock worth $3,385,000 after buying an additional 2,043 shares in the last quarter. Concert Wealth Management Inc. increased its stake in Xcel Energy by 7.5% in the second quarter. Concert Wealth Management Inc. now owns 11,550 shares of the company’s stock worth $514,000 after buying an additional 803 shares in the last quarter. Spectrum Management Group Inc. increased its stake in Xcel Energy by 240.3% in the second quarter. Spectrum Management Group Inc. now owns 7,690 shares of the company’s stock worth $344,000 after buying an additional 5,430 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in Xcel Energy by 12.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 5,354 shares of the company’s stock worth $240,000 after buying an additional 580 shares in the last quarter. Finally, Savant Capital LLC increased its stake in Xcel Energy by 2.9% in the second quarter. Savant Capital LLC now owns 7,358 shares of the company’s stock worth $329,000 after buying an additional 210 shares in the last quarter. 70.93% of the stock is owned by institutional investors and hedge funds.
Shares of Xcel Energy Inc. (NYSE:XEL) traded up 0.72% during midday trading on Monday, reaching $40.34. The company’s stock had a trading volume of 2,808,971 shares. The company’s 50-day moving average price is $41.20 and its 200-day moving average price is $41.90. Xcel Energy Inc. has a 12 month low of $34.33 and a 12 month high of $45.42. The company has a market cap of $20.49 billion, a PE ratio of 19.13 and a beta of 0.13.
Xcel Energy (NYSE:XEL) last announced its earnings results on Wednesday, August 3rd. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by $0.01. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.52 billion. Xcel Energy had a net margin of 9.92% and a return on equity of 10.10%. Xcel Energy’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.39 earnings per share. On average, equities analysts anticipate that Xcel Energy Inc. will post $2.20 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Thursday, September 15th will be paid a $0.34 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $1.36 annualized dividend and a dividend yield of 3.37%. Xcel Energy’s dividend payout ratio (DPR) is 64.46%.
A number of equities analysts have recently commented on the company. Zacks Investment Research raised Xcel Energy from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a report on Wednesday, October 12th. Argus reaffirmed a “buy” rating and issued a $48.00 price target on shares of Xcel Energy in a report on Monday, September 26th. SunTrust Banks Inc. raised their price target on Xcel Energy from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Monday, September 26th. JPMorgan Chase & Co. set a $49.00 price target on Xcel Energy and gave the stock a “buy” rating in a report on Thursday, September 8th. Finally, Jefferies Group raised their price target on Xcel Energy from $42.00 to $45.00 and gave the stock a “hold” rating in a report on Thursday, August 4th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of C$43.25.
In other news, EVP Marvin E. Jr. Mcdaniel sold 11,900 shares of the company’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of C$41.66, for a total value of C$495,754.00. Following the completion of the sale, the executive vice president now directly owns 79,404 shares in the company, valued at approximately C$3,307,970.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by insiders.
About Xcel Energy
Xcel Energy Inc is a public utility holding company. The Company’s operations include activity of four utility subsidiaries that serve electric and natural gas customers. Its segments are regulated electric utility, regulated natural gas utility and all other. The regulated electric utility segment generates, transmits and distributes electricity in Minnesota, Wisconsin, Michigan, North Dakota, South Dakota, Colorado, Texas and New Mexico.
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