Pinebridge Investments LLC Buys Shares of 25,149 Xcel Energy Inc. $XEL

Pinebridge Investments LLC bought a new stake in Xcel Energy Inc. (NASDAQ:XEL) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 25,149 shares of the company’s stock, valued at approximately $1,858,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Xcel Energy by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 76,725,720 shares of the company’s stock valued at $6,187,929,000 after purchasing an additional 2,001,018 shares during the period. Cibc World Market Inc. bought a new position in Xcel Energy in the 3rd quarter worth about $6,994,000. USA Financial Formulas increased its stake in Xcel Energy by 491.3% in the 4th quarter. USA Financial Formulas now owns 21,435 shares of the company’s stock worth $1,583,000 after acquiring an additional 17,810 shares during the last quarter. Citigroup Inc. increased its stake in Xcel Energy by 135.3% in the 3rd quarter. Citigroup Inc. now owns 2,017,717 shares of the company’s stock worth $162,729,000 after acquiring an additional 1,160,205 shares during the last quarter. Finally, Magellan Asset Management Ltd increased its stake in Xcel Energy by 6.1% in the 3rd quarter. Magellan Asset Management Ltd now owns 2,125,537 shares of the company’s stock worth $171,425,000 after acquiring an additional 122,487 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors.

Xcel Energy Price Performance

XEL opened at $77.62 on Tuesday. The stock has a 50-day moving average price of $79.80 and a 200-day moving average price of $78.47. Xcel Energy Inc. has a 12-month low of $65.21 and a 12-month high of $84.23. 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 stock has a market capitalization of $48.46 billion, a P/E ratio of 22.37, a PEG ratio of 2.05 and a beta of 0.39.

Xcel Energy (NASDAQ:XEL) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.91 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.91. Xcel Energy had a return on equity of 10.37% and a net margin of 14.14%.The firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same period in the prior year, the business earned $0.84 EPS. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities analysts predict that Xcel Energy Inc. will post 4.11 earnings per share for the current fiscal year.

Xcel Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Monday, June 15th will be issued a $0.5925 dividend. This represents a $2.37 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Monday, June 15th. Xcel Energy’s dividend payout ratio is presently 68.30%.

Wall Street Analysts Forecast Growth

XEL has been the topic of a number of research analyst reports. Truist Financial decreased their target price on Xcel Energy from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Monday, May 18th. KeyCorp restated an “overweight” rating on shares of Xcel Energy in a research note on Monday. Barclays decreased their target price on Xcel Energy from $91.00 to $87.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 12th. Wall Street Zen lowered Xcel Energy from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Morgan Stanley set a $87.00 target price on Xcel Energy in a research note on Thursday, May 21st. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Xcel Energy presently has a consensus rating of “Buy” and an average price target 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.