Xcel Energy Inc. (XEL) Shares Sold by Asset Management One Co. Ltd.
Asset Management One Co. Ltd. cut its position in Xcel Energy Inc. (NYSE:XEL) by 7.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 848,640 shares of the utilities provider’s stock after selling 70,005 shares during the period. Asset Management One Co. Ltd. owned 0.17% of Xcel Energy worth $37,717,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Xcel Energy by 2.6% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 66,363 shares of the utilities provider’s stock worth $2,701,000 after buying an additional 1,660 shares in the last quarter. Asset Planning Services Inc. LA ADV acquired a new stake in Xcel Energy during the fourth quarter worth $3,327,000. Commerzbank Aktiengesellschaft FI boosted its stake in Xcel Energy by 215.4% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 76,740 shares of the utilities provider’s stock worth $3,123,000 after buying an additional 52,408 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in Xcel Energy during the fourth quarter worth approximately $119,000. Finally, ING Groep NV bought a new position in Xcel Energy during the fourth quarter worth approximately $428,000. 72.14% of the stock is currently owned by hedge funds and other institutional investors.
Xcel Energy (NYSE:XEL) last announced its quarterly earnings results on Thursday, April 27th. The utilities provider reported $0.47 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.03. The business had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.94 billion. Xcel Energy had a net margin of 9.94% and a return on equity of 10.24%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.47 EPS.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 20th. Stockholders of record on Thursday, June 15th will be paid a $0.36 dividend. The ex-dividend date is Tuesday, June 13th. This represents a $1.44 annualized dividend and a dividend yield of 3.04%. Xcel Energy’s payout ratio is 65.16%.
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A number of research analysts recently commented on the stock. 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. Zacks Investment Research upgraded shares of Xcel Energy from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a research note on Thursday. Jefferies Group LLC restated a “hold” rating and issued a $48.00 price target on shares of Xcel Energy in a research report on Friday, June 9th. Royal Bank Of Canada restated a “hold” rating and issued a $45.00 price target on shares of Xcel Energy in a research report on Friday, March 17th. Finally, Deutsche Bank AG lifted their price target on shares of Xcel Energy from $44.00 to $45.00 and gave the stock a “hold” rating in a research report on Tuesday, April 11th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $47.44.
About Xcel Energy
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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