Bank of New York Mellon Corp Reduces Stock Position in Xcel Energy Inc. $XEL

Bank of New York Mellon Corp decreased its stake in shares of Xcel Energy Inc. (NASDAQ:XEL) by 1.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 3,499,718 shares of the company’s stock after selling 68,626 shares during the quarter. Bank of New York Mellon Corp’s holdings in Xcel Energy were worth $278,018,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. USA Financial Formulas raised its stake in shares of Xcel Energy by 491.3% in the fourth quarter. USA Financial Formulas now owns 21,435 shares of the company’s stock valued at $1,583,000 after acquiring an additional 17,810 shares in the last quarter. Union Bancaire Privee UBP SA increased its holdings in Xcel Energy by 226.4% during the 4th quarter. Union Bancaire Privee UBP SA now owns 42,354 shares of the company’s stock worth $3,128,000 after purchasing an additional 29,376 shares during the period. Cbre Investment Management Listed Real Assets LLC raised its position in Xcel Energy by 18.1% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,324,667 shares of the company’s stock valued at $171,700,000 after purchasing an additional 356,208 shares in the last quarter. Oliver Luxxe Assets LLC raised its position in Xcel Energy by 26.6% in the 4th quarter. Oliver Luxxe Assets LLC now owns 74,149 shares of the company’s stock valued at $5,477,000 after purchasing an additional 15,590 shares in the last quarter. Finally, Tounjian Advisory Partners LLC purchased a new stake in shares of Xcel Energy during the fourth quarter worth approximately $1,165,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Xcel Energy Price Performance

Shares of XEL opened at $78.77 on Friday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.68 and a current ratio of 0.77. Xcel Energy Inc. has a fifty-two week low of $69.16 and a fifty-two week high of $84.23. The firm has a 50-day simple moving average of $79.56 and a 200-day simple moving average of $79.05. The company has a market capitalization of $49.17 billion, a price-to-earnings ratio of 22.70, a price-to-earnings-growth ratio of 2.08 and a beta of 0.39.

Xcel Energy (NASDAQ:XEL) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.91 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.91. Xcel Energy had a return on equity of 10.37% and a net margin of 14.14%.The company had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same period last year, the firm earned $0.84 EPS. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities research analysts anticipate that Xcel Energy Inc. will post 4.11 earnings per share for the current year.

Xcel Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Monday, June 15th will be given a $0.5925 dividend. The ex-dividend date is Monday, June 15th. This represents a $2.37 annualized dividend and a yield of 3.0%. Xcel Energy’s dividend payout ratio is presently 68.30%.

Analyst Upgrades and Downgrades

XEL has been the topic of a number of recent analyst reports. Mizuho dropped their price objective on shares of Xcel Energy from $94.00 to $91.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 23rd. Truist Financial upped their price target on Xcel Energy from $92.00 to $94.00 and gave the company a “buy” rating in a report on Thursday. BMO Capital Markets increased their price target on shares of Xcel Energy from $90.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. New Street Research set a $91.00 price target on shares of Xcel Energy in a research note on Tuesday, June 23rd. Finally, Evercore restated an “outperform” rating and issued a $96.00 price objective on shares of Xcel Energy in a research note on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $92.76.

Xcel Energy Company Profile

Xcel Energy (NASDAQ: XEL) is a Minneapolis-based, publicly traded utility holding company that develops, owns and operates regulated electricity and natural gas delivery systems. The company’s core activities include generation, transmission and distribution of electricity, the delivery of natural gas to customers, and related customer service operations. Xcel provides a mix of utility services to residential, commercial and industrial customers and participates in wholesale energy markets where appropriate.

Its generation portfolio combines nuclear, natural gas, coal and a growing share of renewable resources such as wind and solar.