Xcel Energy Inc. (XEL) Holdings Boosted by BlueMountain Capital Management LLC
BlueMountain Capital Management LLC grew its holdings in shares of Xcel Energy Inc. (NYSE:XEL) by 1,311.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,479 shares of the utilities provider’s stock after purchasing an additional 28,320 shares during the period. BlueMountain Capital Management LLC’s holdings in Xcel Energy were worth $1,398,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Amalgamated Bank increased its position in Xcel Energy by 48.6% during the 2nd quarter. Amalgamated Bank now owns 53,073 shares of the utilities provider’s stock worth $2,435,000 after purchasing an additional 17,365 shares during the period. Captrust Financial Advisors acquired a new position in Xcel Energy during the 2nd quarter worth approximately $381,000. Norinchukin Bank The increased its position in Xcel Energy by 6.9% during the 2nd quarter. Norinchukin Bank The now owns 35,237 shares of the utilities provider’s stock worth $1,617,000 after purchasing an additional 2,277 shares during the period. Bridgewater Associates LP acquired a new position in Xcel Energy during the 2nd quarter worth approximately $489,000. Finally, Ameriprise Financial Inc. increased its position in Xcel Energy by 72.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,836,464 shares of the utilities provider’s stock worth $267,813,000 after purchasing an additional 2,446,904 shares during the period. Institutional investors own 72.45% of the company’s stock.
In other Xcel Energy news, EVP Kent T. Larson sold 10,000 shares of Xcel Energy stock in a transaction that occurred on 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 $3,790,442.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Daniel Yohannes purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was acquired at an average price of $49.53 per share, for a total transaction of $49,530.00. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at approximately $49,530. The disclosure for this purchase can be found here. Insiders own 0.22% of the company’s stock.
XEL has been the topic of several recent analyst reports. BidaskClub upgraded Xcel Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Zacks Investment Research raised Xcel Energy from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Wednesday, June 14th. Argus boosted their price target on Xcel Energy from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, June 14th. Morgan Stanley boosted their price target on Xcel Energy from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 10th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $50.00 price target on shares of Xcel Energy in a research note on Thursday, August 31st. Nine 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 an average rating of “Hold” and an average target price of $47.50.
Shares of Xcel Energy Inc. (XEL) opened at 48.44 on Wednesday. The stock has a market cap of $24.60 billion, a price-to-earnings ratio of 21.39 and a beta of 0.20. Xcel Energy Inc. has a 52 week low of $38.00 and a 52 week high of $50.56. The stock’s 50 day moving average price is $48.98 and its 200 day moving average price is $46.54.
Xcel Energy (NYSE:XEL) last posted its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.02. Xcel Energy had a net margin of 10.08% and a return on equity of 10.42%. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same quarter last year, the business earned $0.39 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. Equities research analysts anticipate that Xcel Energy Inc. will post $2.20 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, September 15th will be given a $0.36 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.44 annualized dividend and a yield of 2.97%. Xcel Energy’s dividend payout ratio (DPR) is 63.44%.
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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