Cypress Capital Group decreased its position in Xcel Energy Inc. (NYSE:XEL) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,910 shares of the utilities provider’s stock after selling 300 shares during the quarter. Cypress Capital Group’s holdings in Xcel Energy were worth $1,372,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Blair William & Co. IL increased its position in shares of Xcel Energy by 4.9% in the second quarter. Blair William & Co. IL now owns 28,902 shares of the utilities provider’s stock valued at $1,326,000 after acquiring an additional 1,343 shares during the period. JPMorgan Chase & Co. increased its position in shares of Xcel Energy by 12.6% in the second quarter. JPMorgan Chase & Co. now owns 28,507,015 shares of the utilities provider’s stock valued at $1,307,902,000 after acquiring an additional 3,187,095 shares during the period. Prudential Financial Inc. increased its position in shares of Xcel Energy by 0.9% in the second quarter. Prudential Financial Inc. now owns 712,959 shares of the utilities provider’s stock valued at $32,711,000 after acquiring an additional 6,550 shares during the period. OMERS ADMINISTRATION Corp purchased a new position in shares of Xcel Energy in the second quarter valued at about $1,556,000. Finally, Blackstart Capital LP purchased a new position in shares of Xcel Energy in the first quarter valued at about $12,649,000. Hedge funds and other institutional investors own 72.45% of the company’s stock.
Xcel Energy Inc. (NYSE:XEL) traded up 0.3037% during midday trading on Wednesday, reaching $48.0856. 973,885 shares of the company traded hands. Xcel Energy Inc. has a one year low of $38.00 and a one year high of $50.56. The company has a 50 day moving average price of $48.62 and a 200-day moving average price of $46.95. The stock has a market capitalization of $24.42 billion, a P/E ratio of 21.1831 and a beta of 0.19.
Xcel Energy (NYSE:XEL) last posted its earnings results on Thursday, July 27th. The utilities provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.63 billion. Xcel Energy had a net margin of 10.08% and a return on equity of 10.42%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.39 EPS. Analysts forecast that Xcel Energy Inc. will post $2.20 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, September 15th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Thursday, September 14th. Xcel Energy’s payout ratio is currently 63.44%.
In other news, Director Daniel Yohannes acquired 1,000 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were purchased at an average price of $49.53 per share, with a total value of $49,530.00. Following the transaction, the director now directly owns 1,000 shares in the company, valued at $49,530. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kent T. Larson sold 10,000 shares of Xcel Energy 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 completion of the transaction, the executive vice president now directly owns 80,221 shares in the company, valued at approximately $3,790,442.25. The disclosure for this sale can be found here. 0.22% of the stock is owned by insiders.
A number of equities analysts have issued reports on XEL shares. Jefferies Group LLC restated a “hold” rating and issued a $50.00 price objective on shares of Xcel Energy in a research report on Thursday, August 31st. Argus boosted their price target on shares of Xcel Energy from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, June 14th. Morgan Stanley boosted their price target on shares of Xcel Energy from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Friday, September 8th. BidaskClub cut shares of Xcel Energy from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Finally, Zacks Investment Research cut shares of Xcel Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $48.13.
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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