Commerce Bank Has $11.36 Million Stock Holdings in Xcel Energy Inc. (NASDAQ:XEL)

Key Points

• Commerce Bank reduced its stock holdings in Xcel Energy Inc. by 4.6%, now owning 160,519 shares valued at $11.36 million after selling 7,723 shares in the first quarter.
• Multiple institutional investors, including Conning Inc. and First Horizon Advisors Inc., increased their stakes in Xcel Energy during the first quarter, with institutional ownership at 78.38%.
• Xcel Energy recently reported earnings of $0.75 per share, exceeding estimates, while announcing a quarterly dividend of $0.57 per share, yielding 3.1%.

Commerce Bank decreased its holdings in Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 4.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 160,519 shares of the company's stock after selling 7,723 shares during the period. Commerce Bank's holdings in Xcel Energy were worth $11,363,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Jefferies Financial Group Inc. boosted its position in Xcel Energy by 615.0% during the 1st quarter. Jefferies Financial Group Inc. now owns 140,288 shares of the company's stock valued at $9,931,000 after acquiring an additional 120,668 shares in the last quarter. Nicolet Advisory Services LLC raised its stake in shares of Xcel Energy by 9.8% during the 1st quarter. Nicolet Advisory Services LLC now owns 8,140 shares of the company's stock valued at $557,000 after buying an additional 727 shares during the last quarter. Coastal Bridge Advisors LLC purchased a new position in shares of Xcel Energy during the 1st quarter valued at about $249,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of Xcel Energy during the 1st quarter valued at about $1,769,000. Finally, Sound View Wealth Advisors Group LLC grew its position in shares of Xcel Energy by 7.8% during the 1st quarter. Sound View Wealth Advisors Group LLC now owns 16,836 shares of the company's stock valued at $1,192,000 after acquiring an additional 1,218 shares during the period. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Xcel Energy Stock Up 0.1%

Shares of Xcel Energy stock traded up $0.04 during trading on Wednesday, reaching $73.77. The company had a trading volume of 943,023 shares, compared to its average volume of 3,644,604. The company has a market cap of $43.63 billion, a price-to-earnings ratio of 20.45, a price-to-earnings-growth ratio of 2.50 and a beta of 0.34. The firm's fifty day moving average is $69.35 and its 200-day moving average is $69.27. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.85 and a current ratio of 0.96. Xcel Energy Inc. has a fifty-two week low of $57.24 and a fifty-two week high of $74.57.

Xcel Energy (NASDAQ:XEL - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.66 by $0.09. The firm had revenue of $3.29 billion during 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%. Xcel Energy's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.54 EPS. On average, analysts anticipate that Xcel Energy Inc. will post 3.82 EPS for the current year.

Xcel Energy Announces Dividend

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. 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%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on XEL shares. Evercore ISI lifted their price target on shares of Xcel Energy from $74.00 to $77.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Wells Fargo & Company set a $78.00 price objective on shares of Xcel Energy and gave the company an "overweight" rating in a research note on Friday, April 25th. Morgan Stanley decreased their price objective on shares of Xcel Energy from $78.00 to $77.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 18th. Mizuho increased their target price on shares of Xcel Energy from $74.00 to $78.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Finally, Wall Street Zen downgraded shares of Xcel Energy from a "hold" rating to a "sell" rating in a research note on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, Xcel Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $76.00.

Xcel Energy 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.