Harvest Fund Management Co. Ltd Buys 44,246 Shares of Xcel Energy Inc. $XEL

Harvest Fund Management Co. Ltd boosted its stake in shares of Xcel Energy Inc. (NASDAQ:XEL) by 38.8% in the fourth quarter, Holdings Channel reports. The firm owned 158,332 shares of the company’s stock after acquiring an additional 44,246 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Xcel Energy were worth $11,541,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Xcel Energy by 2.7% during the third quarter. Vanguard Group Inc. now owns 76,725,720 shares of the company’s stock worth $6,187,929,000 after purchasing an additional 2,001,018 shares during the period. Cibc World Market Inc. bought a new stake in Xcel Energy during the third quarter worth approximately $6,994,000. BI Asset Management Fondsmaeglerselskab A S boosted its position in Xcel Energy by 86.6% during the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 41,406 shares of the company’s stock worth $3,339,000 after purchasing an additional 19,214 shares during the period. USA Financial Formulas boosted its position in Xcel Energy by 491.3% during the fourth quarter. USA Financial Formulas now owns 21,435 shares of the company’s stock worth $1,583,000 after purchasing an additional 17,810 shares during the period. Finally, Citigroup Inc. boosted its position in Xcel Energy by 135.3% during the third quarter. Citigroup Inc. now owns 2,017,717 shares of the company’s stock worth $162,729,000 after purchasing an additional 1,160,205 shares during the period. Institutional investors own 78.38% of the company’s stock.

Xcel Energy Stock Performance

Shares of NASDAQ XEL opened at $77.77 on Friday. The business has a fifty day simple moving average of $79.78 and a 200 day simple moving average of $78.51. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.45. The firm has a market capitalization of $48.55 billion, a price-to-earnings ratio of 22.41, a PEG ratio of 2.01 and a beta of 0.39. Xcel Energy Inc. has a one year low of $65.21 and a one year high of $84.23.

Xcel Energy (NASDAQ:XEL) last issued its earnings results on Wednesday, April 29th. The company reported $0.91 EPS for the quarter, meeting analysts’ consensus estimates of $0.91. Xcel Energy had a return on equity of 10.37% and a net margin of 14.14%.The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period in the prior year, the company posted $0.84 earnings per share. Xcel Energy’s revenue was up 2.9% on a year-over-year basis. Sell-side analysts expect that Xcel Energy Inc. will post 4.11 EPS for the current year.

Xcel Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.5925 per share. This represents a $2.37 annualized dividend and a yield of 3.0%. The ex-dividend date is Monday, June 15th. Xcel Energy’s dividend payout ratio is currently 68.30%.

Analyst Ratings Changes

XEL has been the subject of a number of research analyst reports. Barclays cut their price target on Xcel Energy from $91.00 to $87.00 and set an “overweight” rating for the company in a report on Tuesday, May 12th. Morgan Stanley set a $87.00 price target on Xcel Energy in a report on Thursday, May 21st. JPMorgan Chase & Co. cut their price target on Xcel Energy from $94.00 to $91.00 and set an “overweight” rating for the company in a report on Thursday, May 14th. KeyCorp upped their price target on Xcel Energy from $89.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, April 21st. Finally, Argus set a $86.00 price target on Xcel Energy in a report on Thursday, March 12th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Xcel Energy currently has an average rating of “Buy” and an average target price of $90.63.

Xcel Energy Profile

Xcel Energy (NASDAQ: XEL) is a Minneapolis-based, publicly traded utility holding company that develops, owns and operates regulated electricity and natural gas delivery systems. The company’s core activities include generation, transmission and distribution of electricity, the delivery of natural gas to customers, and related customer service operations. Xcel provides a mix of utility services to residential, commercial and industrial customers and participates in wholesale energy markets where appropriate.

Its generation portfolio combines nuclear, natural gas, coal and a growing share of renewable resources such as wind and solar.