Cbre Investment Management Listed Real Assets LLC Has $158.76 Million Stake in Xcel Energy Inc. $XEL

Key Points

• Cbre Investment Management Listed Real Assets LLC boosted its position in Xcel Energy by 29.6% to 1,968,459 shares, a $158.76 million stake that represents 0.33% of XEL and about 2.3% of the fund’s portfolio.
• Xcel Energy raised its quarterly dividend to $0.5925 (annualized $2.37) from $0.57, implying a ~2.9% yield; the ex-dividend date is March 13 and the payment is scheduled for April 20.
• Analysts hold a consensus rating of Buy on XEL with an average price target of $88.60, and several brokers (including UBS) have recently raised ratings or targets.

Cbre Investment Management Listed Real Assets LLC grew its position in Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 29.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,968,459 shares of the company's stock after purchasing an additional 449,299 shares during the quarter. Xcel Energy makes up about 2.3% of Cbre Investment Management Listed Real Assets LLC's portfolio, making the stock its 11th largest position. Cbre Investment Management Listed Real Assets LLC owned 0.33% of Xcel Energy worth $158,756,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of XEL. Vanguard Group Inc. grew its holdings in Xcel Energy by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 76,725,720 shares of the company's stock worth $6,187,929,000 after acquiring an additional 2,001,018 shares during the period. State Street Corp increased its stake in Xcel Energy by 0.4% in the second quarter. State Street Corp now owns 34,144,257 shares of the company's stock valued at $2,344,295,000 after purchasing an additional 126,790 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Xcel Energy by 9.0% during the second quarter. Bank of America Corp DE now owns 26,262,079 shares of the company's stock valued at $1,788,448,000 after purchasing an additional 2,157,602 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Xcel Energy by 4.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 21,026,015 shares of the company's stock worth $1,695,748,000 after purchasing an additional 831,639 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Xcel Energy by 4.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 19,526,873 shares of the company's stock valued at $1,574,842,000 after buying an additional 807,353 shares during the period. Institutional investors own 78.38% of the company's stock.

Xcel Energy Price Performance

XEL stock opened at $81.00 on Thursday. The company has a market capitalization of $50.53 billion, a P/E ratio of 23.68, a price-to-earnings-growth ratio of 2.24 and a beta of 0.45. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.60 and a current ratio of 0.71. Xcel Energy Inc. has a 52-week low of $65.21 and a 52-week high of $84.23. The business has a 50-day simple moving average of $78.13 and a two-hundred day simple moving average of $77.61.

Xcel Energy (NASDAQ:XEL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $0.96 EPS for the quarter, hitting the consensus estimate of $0.96. Xcel Energy had a return on equity of 10.46% and a net margin of 13.76%.The firm had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the prior year, the business posted $0.81 earnings per share. The company's quarterly revenue was up 14.1% compared to the same quarter last year. Research analysts expect that Xcel Energy Inc. will post 3.82 EPS for the current fiscal year.

Xcel Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 20th. Investors of record on Friday, March 13th will be given a $0.5925 dividend. This represents a $2.37 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, March 13th. This is an increase from Xcel Energy's previous quarterly dividend of $0.57. Xcel Energy's payout ratio is currently 66.67%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on XEL. UBS Group raised Xcel Energy from a "neutral" rating to a "buy" rating and boosted their target price for the company from $81.00 to $89.00 in a research report on Friday, February 13th. Mizuho set a $86.00 price objective on Xcel Energy in a research note on Friday, January 9th. Royal Bank Of Canada restated an "outperform" rating and set a $95.00 price objective on shares of Xcel Energy in a report on Friday, January 23rd. Morgan Stanley set a $91.00 target price on Xcel Energy in a research report on Friday, February 20th. Finally, KeyCorp cut their target price on Xcel Energy from $85.00 to $84.00 and set an "overweight" rating on the stock in a report on Friday, December 12th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $88.60.

Xcel Energy 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.

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