Goldman Sachs Group Inc. Sells 1,536,718 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Key Points

• Goldman Sachs Group Inc. reduced its stake in Xcel Energy by 19.9%, now owning approximately 1.07% of the company, which is valued at $438.47 million.
• Despite the reduction, institutional investors hold about 78.38% of Xcel Energy's stock, highlighting strong institutional interest.
• Xcel Energy recently announced a quarterly dividend of $0.57 per share, reflecting a dividend yield of 3.1% and a payout ratio of 63.16%.

Goldman Sachs Group Inc. trimmed its stake in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 19.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,193,952 shares of the company's stock after selling 1,536,718 shares during the quarter. Goldman Sachs Group Inc. owned approximately 1.07% of Xcel Energy worth $438,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Accent Capital Management LLC acquired a new stake in Xcel Energy during the first quarter worth approximately $29,000. BankPlus Trust Department acquired a new stake in Xcel Energy during the first quarter worth approximately $34,000. Rossby Financial LCC acquired a new stake in Xcel Energy during the first quarter worth approximately $50,000. Itau Unibanco Holding S.A. acquired a new stake in Xcel Energy in the fourth quarter valued at approximately $52,000. Finally, Alpine Bank Wealth Management acquired a new stake in Xcel Energy in the first quarter valued at approximately $53,000. 78.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Morgan Stanley cut their target price on Xcel Energy from $78.00 to $77.00 and set an "equal weight" rating on the stock in a research report on Wednesday, June 18th. Wall Street Zen cut Xcel Energy from a "hold" rating to a "sell" rating in a research report on Tuesday, May 20th. BMO Capital Markets lifted their target price on Xcel Energy from $69.00 to $73.00 and gave the company a "market perform" rating in a research report on Wednesday, April 23rd. Evercore ISI lifted their price target on Xcel Energy from $74.00 to $77.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Finally, Wells Fargo & Company set a $78.00 price target on Xcel Energy and gave the stock an "overweight" rating in a report on Friday, April 25th. 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 company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $76.00.

Xcel Energy Trading Up 0.1%

Shares of NASDAQ XEL traded up $0.10 during midday trading on Friday, reaching $73.33. The company had a trading volume of 3,328,850 shares, compared to its average volume of 3,379,997. Xcel Energy Inc. has a one year low of $57.24 and a one year high of $74.57. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 1.48. The firm's fifty day moving average price is $69.57 and its 200-day moving average price is $69.40. The stock has a market cap of $43.37 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 2.47 and a beta of 0.34.

Xcel Energy (NASDAQ:XEL - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.09. Xcel Energy had a return on equity of 10.52% and a net margin of 14.85%. The company had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.31 billion. During the same quarter in the previous year, the company posted $0.54 EPS. Xcel Energy's revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities research analysts anticipate that Xcel Energy Inc. will post 3.82 earnings per share for the current year.

Xcel Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Monday, September 15th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.28 dividend on an annualized basis and a yield of 3.1%. Xcel Energy's dividend payout ratio is presently 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.