Associated Banc Corp Reduces Position in Xcel Energy Inc. (NASDAQ:XEL)

Key Points

• Associated Banc Corp reduced its stake in Xcel Energy Inc. by 1.3%, holding approximately $20.61 million in shares at the end of the first quarter.
• Institutional investors collectively own 78.38% of Xcel Energy, with several hedge funds significantly increasing their positions in the fourth quarter.
• Xcel Energy announced a quarterly dividend of $0.57 per share, providing an annualized yield of 3.1% to shareholders.

Associated Banc Corp trimmed its stake in Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 1.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 291,193 shares of the company's stock after selling 3,968 shares during the quarter. Associated Banc Corp owned approximately 0.05% of Xcel Energy worth $20,614,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Accent Capital Management LLC purchased a new stake in shares of Xcel Energy in the first quarter valued at $29,000. BankPlus Trust Department acquired a new stake in Xcel Energy in the 1st quarter worth about $34,000. Rossby Financial LCC purchased a new stake in Xcel Energy in the 1st quarter valued at about $50,000. Itau Unibanco Holding S.A. purchased a new stake in Xcel Energy in the 4th quarter valued at about $52,000. Finally, Alpine Bank Wealth Management acquired a new position in shares of Xcel Energy during the 1st quarter valued at about $53,000. Institutional investors and hedge funds own 78.38% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Evercore ISI raised their target price on shares of Xcel Energy from $74.00 to $77.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Barclays lifted their price target on shares of Xcel Energy from $72.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, April 22nd. BMO Capital Markets upped their price objective on Xcel Energy from $69.00 to $73.00 and gave the stock a "market perform" rating in a report on Wednesday, April 23rd. Mizuho increased their target price on Xcel Energy from $74.00 to $78.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Finally, Wells Fargo & Company set a $78.00 target price on Xcel Energy and gave the company an "overweight" rating in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, Xcel Energy has an average rating of "Moderate Buy" and a consensus price target of $76.00.

Xcel Energy Stock Down 0.6%

Shares of XEL traded down $0.43 during midday trading on Wednesday, reaching $73.30. 2,863,314 shares of the company were exchanged, compared to its average volume of 3,289,894. Xcel Energy Inc. has a 1-year low of $57.24 and a 1-year high of $74.57. The stock has a 50-day moving average price of $69.35 and a 200-day moving average price of $69.27. 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 cap of $43.35 billion, a price-to-earnings ratio of 20.30, a P/E/G ratio of 2.48 and a beta of 0.34.

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

Xcel Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Monday, September 15th will be paid a $0.57 dividend. The ex-dividend date is Monday, September 15th. This represents a $2.28 annualized dividend and a dividend yield of 3.1%. Xcel Energy's dividend payout ratio is 63.16%.

About Xcel Energy

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.