International Assets Investment Management LLC trimmed its stake in Xcel Energy Inc. (NASDAQ:XEL – Free Report) by 98.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,573 shares of the company’s stock after selling 499,915 shares during the quarter. International Assets Investment Management LLC’s holdings in Xcel Energy were worth $439,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in XEL. State Street Corp raised its holdings in shares of Xcel Energy by 6.7% in the 3rd quarter. State Street Corp now owns 37,143,025 shares of the company’s stock worth $2,445,477,000 after acquiring an additional 2,323,448 shares during the last quarter. Brookfield Corp ON increased its holdings in Xcel Energy by 520.1% during the 3rd quarter. Brookfield Corp ON now owns 2,509,031 shares of the company’s stock worth $163,840,000 after purchasing an additional 2,104,405 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Xcel Energy by 130.4% in the second quarter. American Century Companies Inc. now owns 2,084,345 shares of the company’s stock worth $111,325,000 after purchasing an additional 1,179,823 shares during the last quarter. Merewether Investment Management LP purchased a new stake in shares of Xcel Energy in the third quarter worth approximately $64,301,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Xcel Energy by 6.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 15,190,756 shares of the company’s stock valued at $991,956,000 after purchasing an additional 892,740 shares in the last quarter. Institutional investors own 78.38% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on XEL shares. Wells Fargo & Company increased their price target on Xcel Energy from $63.00 to $66.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Jefferies Financial Group upgraded shares of Xcel Energy from a “hold” rating to a “buy” rating and increased their target price for the company from $71.00 to $76.00 in a report on Friday, November 1st. KeyCorp boosted their price target on shares of Xcel Energy from $74.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Barclays increased their price objective on shares of Xcel Energy from $67.00 to $71.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Finally, Morgan Stanley cut their target price on Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $69.17.
Xcel Energy Stock Performance
XEL stock opened at $63.37 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.93 and a debt-to-equity ratio of 1.42. The firm has a market cap of $36.39 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 2.79 and a beta of 0.42. The business’s fifty day simple moving average is $68.54 and its two-hundred day simple moving average is $63.17. Xcel Energy Inc. has a twelve month low of $46.79 and a twelve month high of $73.38.
Xcel Energy (NASDAQ:XEL – Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.01). Xcel Energy had a net margin of 13.67% and a return on equity of 10.76%. The company had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same period last year, the business posted $1.23 EPS. The firm’s revenue was down .5% compared to the same quarter last year. Analysts predict that Xcel Energy Inc. will post 3.54 earnings per share for the current year.
Xcel Energy Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Monday, January 6th will be given a dividend of $0.5475 per share. This represents a $2.19 annualized dividend and a yield of 3.46%. The ex-dividend date is Monday, January 6th. Xcel Energy’s dividend payout ratio is currently 64.99%.
Xcel Energy Profile
Xcel Energy Inc, through its subsidiaries, engages in the generation, purchasing, transmission, distribution, and sale of electricity. It operates through Regulated Electric Utility, Regulated Natural Gas Utility, and All Other segments. The company generates electricity through wind, nuclear, hydroelectric, biomass, and solar energy sources, as well as coal, natural gas, oil, wood, and refuse-derived fuels.
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