Cornerstone Capital Management Holdings LLC. Grows Stake in Xcel Energy Inc. (XEL)
Cornerstone Capital Management Holdings LLC. boosted its position in Xcel Energy Inc. (NYSE:XEL) by 23.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 562,978 shares of the utilities provider’s stock after purchasing an additional 108,137 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned about 0.11% of Xcel Energy worth $25,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. raised its position in shares of Xcel Energy by 2,692.8% during the 1st quarter. BlackRock Inc. now owns 41,639,955 shares of the utilities provider’s stock valued at $1,850,897,000 after buying an additional 40,148,954 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Xcel Energy by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 36,034,296 shares of the utilities provider’s stock valued at $1,653,253,000 after buying an additional 871,299 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Xcel Energy by 12.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 28,507,015 shares of the utilities provider’s stock valued at $1,307,902,000 after buying an additional 3,187,095 shares in the last quarter. FMR LLC raised its position in shares of Xcel Energy by 10.2% during the 1st quarter. FMR LLC now owns 17,771,752 shares of the utilities provider’s stock valued at $789,955,000 after buying an additional 1,644,276 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Xcel Energy by 0.6% during the 2nd quarter. Franklin Resources Inc. now owns 13,899,928 shares of the utilities provider’s stock valued at $637,728,000 after buying an additional 85,566 shares in the last quarter. Institutional investors and hedge funds own 72.45% of the company’s stock.
In related news, Director Daniel Yohannes acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was purchased at an average cost of $49.53 per share, with a total value of $49,530.00. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $49,530. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kent T. Larson sold 10,000 shares of the stock in a transaction that occurred on Friday, July 28th. The shares were 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 of the company’s stock, valued at $3,790,442.25. The disclosure for this sale can be found here. Company insiders own 0.22% of the company’s stock.
Shares of Xcel Energy Inc. (NYSE:XEL) traded down 0.34% on Friday, reaching $47.42. 505,003 shares of the company were exchanged. Xcel Energy Inc. has a 52 week low of $38.00 and a 52 week high of $50.56. The company’s 50-day moving average is $48.74 and its 200-day moving average is $46.84. The company has a market capitalization of $24.08 billion, a price-to-earnings ratio of 20.94 and a beta of 0.19.
Xcel Energy (NYSE:XEL) last released its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.02. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.63 billion. Xcel Energy had a net margin of 10.08% and a return on equity of 10.42%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.39 earnings per share. On average, equities analysts expect that Xcel Energy Inc. will post $2.20 EPS for the current fiscal year.
The company 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 dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 3.03%. The ex-dividend date is Thursday, September 14th. Xcel Energy’s payout ratio is 63.44%.
Several analysts have recently weighed in on XEL shares. Mizuho reaffirmed a “hold” rating and set a $46.00 target price on shares of Xcel Energy in a report on Friday, September 29th. Jefferies Group LLC reaffirmed a “hold” rating and set a $50.00 target price on shares of Xcel Energy in a report on Thursday, August 31st. BidaskClub raised shares of Xcel Energy from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Morgan Stanley increased their target price on shares of Xcel Energy from $45.00 to $46.00 and gave the company an “equal weight” rating in a report on Thursday, August 10th. Finally, Zacks Investment Research lowered shares of Xcel Energy from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Xcel Energy has an average rating of “Hold” and an average price target of $47.75.
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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