Forsta AP Fonden Sells 89,800 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Key Points

• Forsta AP Fonden reduced its position in Xcel Energy Inc. by 43.9% in the first quarter, holding 114,900 shares valued at approximately $8.13 million.
• Xcel Energy reported earnings of $0.75 per share for the recent quarter, exceeding estimates of $0.66, while revenue was $3.29 billion, slightly below expectations.
• The company announced a quarterly dividend of $0.57 per share, representing an annual yield of 3.1%, with a payout ratio of 63.16%.

Forsta AP Fonden trimmed its stake in Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 43.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 114,900 shares of the company's stock after selling 89,800 shares during the period. Forsta AP Fonden's holdings in Xcel Energy were worth $8,134,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of XEL. Conning Inc. increased its stake in shares of Xcel Energy by 4.1% in the first quarter. Conning Inc. now owns 4,400 shares of the company's stock worth $311,000 after acquiring an additional 172 shares during the period. Redhawk Wealth Advisors Inc. raised its position in shares of Xcel Energy by 4.3% in the first quarter. Redhawk Wealth Advisors Inc. now owns 4,406 shares of the company's stock valued at $312,000 after buying an additional 182 shares during the last quarter. Benjamin Edwards Inc. increased its position in Xcel Energy by 1.1% during the fourth quarter. Benjamin Edwards Inc. now owns 16,605 shares of the company's stock worth $1,121,000 after purchasing an additional 183 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of Xcel Energy by 3.1% during the first quarter. First Horizon Advisors Inc. now owns 5,998 shares of the company's stock valued at $425,000 after acquiring an additional 183 shares during the last quarter. Finally, First National Advisers LLC increased its position in shares of Xcel Energy by 0.5% during the first quarter. First National Advisers LLC now owns 33,930 shares of the company's stock valued at $2,401,000 after acquiring an additional 183 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

XEL has been the subject of a number of recent research reports. Mizuho lifted their price target 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. Morgan Stanley lowered their price target on shares of Xcel Energy from $78.00 to $77.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 18th. 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. Wall Street Zen lowered shares of Xcel Energy from a "hold" rating to a "sell" rating in a report on Tuesday, May 20th. Finally, Evercore ISI raised their price target on shares of Xcel Energy from $74.00 to $77.00 and gave the company an "outperform" rating in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $76.00.

Xcel Energy Stock Performance

Xcel Energy stock traded down $0.29 during mid-day trading on Tuesday, reaching $72.39. The company's stock had a trading volume of 3,136,922 shares, compared to its average volume of 3,448,483. The firm has a market cap of $42.81 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 2.45 and a beta of 0.34. The business has a 50 day moving average price of $69.63 and a 200-day moving average price of $69.46. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 1.48. Xcel Energy Inc. has a twelve month low of $58.31 and a twelve month high of $74.57.

Xcel Energy (NASDAQ:XEL - Get Free Report) last issued its quarterly 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 for 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 revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.54 earnings per share. Sell-side analysts predict that Xcel Energy Inc. will post 3.82 EPS for the current fiscal year.

Xcel Energy Dividend Announcement

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 issued a dividend of $0.57 per share. The ex-dividend date is Monday, September 15th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.1%. Xcel Energy's payout ratio is 63.16%.

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.