Bank of New York Mellon Corp purchased a new stake in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 3,489,252 shares of the company's stock, valued at approximately $280,187,000. Bank of New York Mellon Corp owned 0.56% of Xcel Energy at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Evolution Wealth Management Inc. increased its position in shares of Xcel Energy by 365.3% in the first quarter. Evolution Wealth Management Inc. now owns 349 shares of the company's stock valued at $28,000 after buying an additional 274 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in shares of Xcel Energy during the 4th quarter worth $30,000. Pittenger & Anderson Inc. boosted its position in shares of Xcel Energy by 73.8% in the 4th quarter. Pittenger & Anderson Inc. now owns 471 shares of the company's stock worth $35,000 after buying an additional 200 shares in the last quarter. Cedar Mountain Advisors LLC purchased a new stake in shares of Xcel Energy in the 1st quarter worth about $39,000. Finally, Measured Wealth Private Client Group LLC acquired a new stake in Xcel Energy in the 3rd quarter valued at about $42,000. Hedge funds and other institutional investors own 78.38% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on XEL. BTIG Research reaffirmed a "buy" rating and issued a $99.00 price target on shares of Xcel Energy in a report on Friday, July 31st. Evercore reissued an "outperform" rating and set a $96.00 price objective on shares of Xcel Energy in a research note on Monday, May 4th. KeyCorp restated an "overweight" rating on shares of Xcel Energy in a research report on Monday, June 8th. Mizuho set a $92.00 target price on Xcel Energy in a report on Friday, July 31st. Finally, Jefferies Financial Group set a $101.00 price target on Xcel Energy in a research report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Xcel Energy presently has an average rating of "Buy" and an average target price of $92.41.
Read Our Latest Stock Analysis on Xcel Energy
Xcel Energy Stock Down 3.1%
Shares of NASDAQ XEL opened at $76.30 on Friday. The firm has a market cap of $47.66 billion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 1.98 and a beta of 0.39. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.62 and a current ratio of 0.70. Xcel Energy Inc. has a 1 year low of $71.29 and a 1 year high of $84.23. The firm's 50 day moving average price is $79.35 and its 200 day moving average price is $79.70.
Xcel Energy (NASDAQ:XEL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.14. Xcel Energy had a return on equity of 10.65% and a net margin of 15.28%.The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same period in the previous year, the firm posted $1.59 EPS. Xcel Energy's revenue was down 5.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Xcel Energy Inc. will post 4.12 earnings per share for the current year.
Xcel Energy Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Tuesday, September 15th will be given a $0.5925 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.37 dividend on an annualized basis and a dividend yield of 3.1%. Xcel Energy's payout ratio is currently 64.93%.
Xcel Energy Company Profile
(
Free Report)
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.
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