TD Asset Management Inc. decreased its stake in Xcel Energy Inc. (NYSE:XEL) by 16.7% during the second quarter, Holdings Channel reports. The institutional investor owned 582,026 shares of the utilities provider’s stock after selling 116,788 shares during the period. TD Asset Management Inc.’s holdings in Xcel Energy were worth $26,703,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Reilly Financial Advisors LLC boosted its stake in Xcel Energy by 5.8% in the first quarter. Reilly Financial Advisors LLC now owns 2,901 shares of the utilities provider’s stock valued at $129,000 after buying an additional 160 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Xcel Energy by 13.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 154,058 shares of the utilities provider’s stock valued at $6,883,000 after buying an additional 17,905 shares in the last quarter. Greenleaf Trust acquired a new stake in Xcel Energy during the first quarter valued at approximately $221,000. Blackstart Capital LP acquired a new stake in Xcel Energy during the first quarter valued at approximately $12,649,000. Finally, BlackRock Inc. boosted its stake in Xcel Energy by 2,692.8% in the first quarter. BlackRock Inc. now owns 41,639,955 shares of the utilities provider’s stock valued at $1,850,897,000 after buying an additional 40,148,954 shares in the last quarter. 72.03% of the stock is owned by institutional investors and hedge funds.
Xcel Energy Inc. (NYSE:XEL) opened at 48.64 on Friday. The firm has a 50-day moving average price of $46.85 and a 200 day moving average price of $45.07. The company has a market cap of $24.70 billion, a price-to-earnings ratio of 21.47 and a beta of 0.19. Xcel Energy Inc. has a one year low of $38.00 and a one year high of $48.72.
Xcel Energy (NYSE:XEL) last posted its earnings results on Thursday, July 27th. The utilities provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. Xcel Energy had a return on equity of 10.42% and a net margin of 10.08%. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter in the prior year, the business earned $0.39 EPS. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. Equities analysts expect that Xcel Energy Inc. will post $2.20 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 20th. Shareholders of record on Thursday, June 15th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.96%. Xcel Energy’s dividend payout ratio (DPR) is 63.44%.
Several equities research analysts recently commented on XEL shares. Mizuho started coverage on Xcel Energy in a research note on Wednesday, April 19th. They set a “neutral” rating and a $44.00 target price for the company. BidaskClub cut Xcel Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Barclays PLC reaffirmed an “equal weight” rating and set a $47.00 target price (up previously from $44.00) on shares of Xcel Energy in a research note on Sunday, April 23rd. Argus raised their target price on Xcel Energy from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, June 14th. Finally, Zacks Investment Research cut Xcel Energy from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $46.67.
In other Xcel Energy news, EVP Kent T. Larson sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $47.25, for a total transaction of $472,500.00. Following the transaction, the executive vice president now owns 80,221 shares in the company, valued at approximately $3,790,442.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.22% of the stock is currently owned by corporate insiders.
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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