Summit Global Investments increased its stake in shares of Xcel Energy Inc. (NYSE:XEL) by 3.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,024 shares of the utilities provider’s stock after acquiring an additional 1,608 shares during the quarter. Summit Global Investments’ holdings in Xcel Energy were worth $2,020,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Riverhead Capital Management LLC lifted its stake in shares of Xcel Energy by 6.6% in the second quarter. Riverhead Capital Management LLC now owns 107,700 shares of the utilities provider’s stock valued at $4,941,000 after buying an additional 6,628 shares in the last quarter. AJO LP lifted its stake in shares of Xcel Energy by 27.3% in the second quarter. AJO LP now owns 267,367 shares of the utilities provider’s stock valued at $12,267,000 after buying an additional 57,330 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Xcel Energy by 24.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 16,920 shares of the utilities provider’s stock valued at $776,000 after buying an additional 3,320 shares in the last quarter. Dai Ichi Life Insurance Company Ltd lifted its stake in shares of Xcel Energy by 656.2% in the second quarter. Dai Ichi Life Insurance Company Ltd now owns 433,067 shares of the utilities provider’s stock valued at $19,869,000 after buying an additional 375,801 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in shares of Xcel Energy by 1.8% in the second quarter. Alliancebernstein L.P. now owns 851,271 shares of the utilities provider’s stock valued at $39,056,000 after buying an additional 15,013 shares in the last quarter. 73.05% of the stock is currently owned by institutional investors and hedge funds.
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Xcel Energy Inc. (NYSE XEL) traded up 0.20% on Monday, hitting $50.33. 351,661 shares of the company were exchanged. Xcel Energy Inc. has a 52 week low of $38.00 and a 52 week high of $50.37. The company has a 50 day moving average price of $48.62 and a 200-day moving average price of $46.25. The stock has a market capitalization of $25.56 billion, a P/E ratio of 22.22 and a beta of 0.20.
Xcel Energy (NYSE:XEL) last announced its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.02. The company had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.63 billion. Xcel Energy had a net margin of 10.08% and a return on equity of 10.42%. Xcel Energy’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.39 EPS. On average, equities analysts expect that Xcel Energy Inc. will post $2.20 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, September 15th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date is Thursday, September 14th. Xcel Energy’s payout ratio is 63.44%.
XEL has been the topic of a number of recent research reports. BidaskClub lowered shares of Xcel Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Morgan Stanley raised their price objective on shares of Xcel Energy from $45.00 to $46.00 and gave the company an “equal weight” rating in a research note on Thursday, August 10th. Argus raised their price objective on shares of Xcel Energy from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, June 14th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $50.00 price objective on shares of Xcel Energy in a research note on Thursday, August 31st. Finally, Zacks Investment Research lowered shares of Xcel Energy from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. Ten investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $46.82.
In related news, EVP Kent T. Larson sold 10,000 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $47.25, for a total value 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Daniel Yohannes purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was purchased at an average price of $49.53 per share, for a total transaction of $49,530.00. Following the purchase, the director now owns 1,000 shares in the company, valued at $49,530. The disclosure for this purchase can be found here. Insiders own 0.22% of the company’s stock.
Xcel Energy 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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