Xcel Energy Inc. $XEL Shares Sold by Allstate Corp

Key Points

• Allstate Corp significantly reduced its stake in Xcel Energy Inc. by 62.6%, selling 10,518 shares and leaving it with 6,276 shares valued at approximately $444,000.
• Several other institutional investors, including Norinchukin Bank and Price T Rowe Associates, have adjusted their stakes in Xcel Energy, showing a mix of increased and new investments.
• Xcel Energy's stock performance has seen a recent downgrade to a "sell" rating by Wall Street Zen, while analysts have set a consensus price target of $76.80 with several "buy" recommendations still in place.

Allstate Corp lessened its stake in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 62.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,276 shares of the company's stock after selling 10,518 shares during the period. Allstate Corp's holdings in Xcel Energy were worth $444,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Accent Capital Management LLC purchased a new position in shares of Xcel Energy during the 1st quarter worth $29,000. BankPlus Trust Department purchased a new position in shares of Xcel Energy during the 1st quarter worth $34,000. Rossby Financial LCC purchased a new position in shares of Xcel Energy during the 1st quarter worth $50,000. Alpine Bank Wealth Management purchased a new position in shares of Xcel Energy during the 1st quarter worth $53,000. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of Xcel Energy during the 4th quarter worth $52,000. Hedge funds and other institutional investors own 78.38% of the company's stock.

Xcel Energy Price Performance

Shares of XEL traded up $0.05 during trading hours on Friday, reaching $72.39. The company had a trading volume of 3,003,393 shares, compared to its average volume of 3,634,039. The firm has a 50 day simple moving average of $70.92 and a 200-day simple moving average of $69.94. 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 company has a market capitalization of $42.81 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 2.45 and a beta of 0.34. Xcel Energy Inc. has a 12-month low of $60.66 and a 12-month high of $74.57.

Xcel Energy (NASDAQ:XEL - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.66 by $0.09. Xcel Energy had a net margin of 14.85% and a return on equity of 10.52%. The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.31 billion. During the same period in the previous year, the firm earned $0.54 EPS. The business's revenue for the quarter was up 8.6% compared to the same quarter last year. 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. Shareholders of record on Monday, September 15th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. Xcel Energy's dividend payout ratio (DPR) is presently 63.16%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on XEL. Wall Street Zen downgraded Xcel Energy from a "hold" rating to a "sell" rating in a report on Tuesday, May 20th. Morgan Stanley reaffirmed an "outperform" rating on shares of Xcel Energy in a report on Thursday, August 21st. Finally, Mizuho raised their price objective on Xcel Energy from $74.00 to $78.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, Xcel Energy presently has an average rating of "Moderate Buy" and an average price target of $76.80.

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.