Corebridge Financial Inc. Has $11.90 Million Holdings in Xcel Energy Inc. $XEL

Key Points

• Corebridge Financial Inc. reduced its holdings in Xcel Energy Inc. by 3.0% to 168,139 shares, worth approximately $11.9 million, after selling 5,177 shares in the first quarter.
• Analysts have mixed ratings on Xcel Energy, with Mizuho raising the price target from $74 to $78, while Wall Street Zen downgraded the stock from "hold" to "sell".
• Xcel Energy announced a quarterly dividend of $0.57, set to be paid on October 20th, representing an annualized yield of 3.1% and a payout ratio of 63.16%.

Corebridge Financial Inc. reduced its position in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 3.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 168,139 shares of the company's stock after selling 5,177 shares during the quarter. Corebridge Financial Inc.'s holdings in Xcel Energy were worth $11,903,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ICONIQ Capital LLC bought a new stake in Xcel Energy during the 1st quarter worth about $238,000. Campbell & CO Investment Adviser LLC bought a new stake in Xcel Energy during the 1st quarter worth about $2,849,000. Oliver Luxxe Assets LLC raised its holdings in Xcel Energy by 2.9% during the 1st quarter. Oliver Luxxe Assets LLC now owns 98,721 shares of the company's stock worth $6,988,000 after purchasing an additional 2,781 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC increased its stake in shares of Xcel Energy by 33.2% in the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,455,038 shares of the company's stock valued at $103,002,000 after acquiring an additional 362,519 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Xcel Energy by 11.9% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 36,709 shares of the company's stock valued at $2,599,000 after acquiring an additional 3,907 shares during the last quarter. 78.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wall Street Zen cut Xcel Energy from a "hold" rating to a "sell" rating in a research note on Tuesday, May 20th. Mizuho upped their price target on Xcel Energy from $74.00 to $78.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Finally, Morgan Stanley reaffirmed an "outperform" rating on shares of Xcel Energy in a research note on Thursday, August 21st. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $76.80.

Xcel Energy Stock Up 0.1%

NASDAQ XEL traded up $0.05 during trading hours on Friday, reaching $72.39. 3,003,393 shares of the company's stock were exchanged, compared to its average volume of 3,622,319. The company has a market capitalization of $42.81 billion, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 2.44 and a beta of 0.34. 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 one year low of $60.66 and a one year high of $74.57. The company's 50-day moving average is $71.03 and its two-hundred day moving average is $69.98.

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, beating the consensus estimate of $0.66 by $0.09. The company had revenue of $3.29 billion during 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 firm's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.54 EPS. Xcel Energy has set its FY 2025 guidance at 3.750-3.850 EPS. On average, analysts forecast that Xcel Energy Inc. will post 3.82 EPS for the current fiscal year.

Xcel Energy Announces Dividend

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