Allianz Asset Management GmbH Sells 84,589 Shares of Xcel Energy Inc. $XEL

Key Points

• Allianz Asset Management GmbH has reduced its stake in Xcel Energy Inc. by 10.3%, selling 84,589 shares to hold a total of 738,964 shares worth approximately $50.3 million.
• Stock analysts have recently adjusted their price targets for Xcel Energy, with KeyCorp raising it from $79.00 to $85.00 and BMO Capital Markets from $84.00 to $87.00, indicating a positive outlook with multiple analysts giving "buy" ratings.
• Xcel Energy has declared a quarterly dividend of $0.57 per share, with a projected annual yield of 2.8%, reflecting a strong dividend payout ratio of 63.16%.

Allianz Asset Management GmbH trimmed its position in Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 10.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 738,964 shares of the company's stock after selling 84,589 shares during the period. Allianz Asset Management GmbH owned 0.13% of Xcel Energy worth $50,323,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of XEL. Accent Capital Management LLC acquired a new stake in shares of Xcel Energy in the 1st quarter valued at about $29,000. BankPlus Trust Department acquired a new position in Xcel Energy during the 1st quarter valued at about $34,000. Rise Advisors LLC lifted its position in shares of Xcel Energy by 62.9% during the 2nd quarter. Rise Advisors LLC now owns 518 shares of the company's stock worth $35,000 after buying an additional 200 shares in the last quarter. Marshall & Sullivan Inc. WA bought a new position in shares of Xcel Energy during the 2nd quarter worth approximately $44,000. Finally, RMG Wealth Management LLC bought a new position in shares of Xcel Energy during the 2nd quarter worth approximately $46,000. 78.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on XEL shares. KeyCorp lifted their price target on shares of Xcel Energy from $79.00 to $85.00 and gave the stock an "overweight" rating in a report on Wednesday. BMO Capital Markets boosted their price target on shares of Xcel Energy from $84.00 to $87.00 and gave the company an "outperform" rating in a research report on Wednesday. TD Cowen initiated coverage on shares of Xcel Energy in a research report on Thursday. They issued a "buy" rating and a $93.00 target price for the company. Morgan Stanley cut their price target on shares of Xcel Energy from $81.00 to $80.00 and set an "equal weight" rating for the company in a research report on Thursday, September 25th. Finally, Cowen initiated coverage on shares of Xcel Energy in a research note on Wednesday. They set a "buy" rating for the company. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $84.92.

Xcel Energy Trading Up 0.1%

Shares of XEL stock opened at $81.16 on Friday. Xcel Energy Inc. has a 12-month low of $62.58 and a 12-month high of $83.01. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 1.48. The firm's 50 day moving average is $75.40 and its 200 day moving average is $71.68. The stock has a market capitalization of $48.00 billion, a P/E ratio of 22.48, a P/E/G ratio of 2.86 and a beta of 0.37.

Xcel Energy (NASDAQ:XEL - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.09. The business had revenue of $3.29 billion for the quarter, compared to analysts' expectations of $3.31 billion. Xcel Energy had a net margin of 14.85% and a return on equity of 10.52%. The company's revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.54 EPS. Xcel Energy has set its FY 2025 guidance at 3.750-3.850 EPS. Research analysts expect that Xcel Energy Inc. will post 3.82 earnings per share for the current year.

Xcel Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Monday, September 15th. Xcel Energy's dividend payout ratio (DPR) is currently 63.16%.

Xcel Energy Company Profile

Xcel Energy Inc, through its subsidiaries, engages in the generation, purchasing, transmission, distribution, and sale of electricity. It operates through Regulated Electric Utility, Regulated Natural Gas Utility, and All Other segments. The company generates electricity through wind, nuclear, hydroelectric, biomass, and solar energy sources, as well as coal, natural gas, oil, wood, and refuse-derived fuels.

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