ING Groep NV Boosts Holdings in Xcel Energy Inc. (NASDAQ:XEL)

Key Points

• ING Groep NV increased its stake in Xcel Energy Inc. by 352.8% in the first quarter, purchasing an additional 73,641 shares, bringing its total holdings to 94,513 shares valued at approximately $6.69 million.
• Xcel Energy recently announced a quarterly dividend of $0.57 per share, with a dividend yield of 3.1%, payable on October 20th to shareholders of record on September 15th.
• Several analysts have varied opinions on Xcel Energy's stock, with a consensus rating of "Moderate Buy" and an average target price of $76.00.

ING Groep NV lifted its position in Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 352.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 94,513 shares of the company's stock after purchasing an additional 73,641 shares during the quarter. ING Groep NV's holdings in Xcel Energy were worth $6,691,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in XEL. BankPlus Trust Department purchased a new position in Xcel Energy in the first quarter worth about $34,000. Rossby Financial LCC purchased a new position in shares of Xcel Energy during the first quarter valued at approximately $50,000. Alpine Bank Wealth Management purchased a new position in shares of Xcel Energy during the first quarter valued at approximately $53,000. Itau Unibanco Holding S.A. purchased a new position in shares of Xcel Energy during the fourth quarter valued at approximately $52,000. Finally, WFA Asset Management Corp boosted its position in shares of Xcel Energy by 449.0% during the first quarter. WFA Asset Management Corp now owns 1,131 shares of the company's stock valued at $80,000 after buying an additional 925 shares during the period. 78.38% of the stock is owned by institutional investors.

Xcel Energy Stock Up 0.1%

Shares of XEL stock traded up $0.10 during trading hours on Friday, reaching $73.33. 3,328,850 shares of the company's stock were exchanged, compared to its average volume of 3,379,997. The stock's 50 day moving average is $69.57 and its 200-day moving average is $69.38. The company has a market cap of $43.37 billion, a price-to-earnings ratio of 20.31, a P/E/G ratio of 2.47 and a beta of 0.34. 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 fifty-two week low of $57.24 and a fifty-two week 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 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same period in the prior year, the firm posted $0.54 earnings per share. The business's quarterly revenue was up 8.6% on a year-over-year basis. Analysts predict that Xcel Energy Inc. will post 3.82 earnings per share for the current fiscal year.

Xcel Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Monday, September 15th will be given 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%.

Analysts Set New Price Targets

Several research analysts have issued reports on XEL shares. Barclays boosted their target price on Xcel Energy from $72.00 to $73.00 and gave the company an "overweight" rating in a research report on Tuesday, April 22nd. Mizuho boosted their target price on Xcel Energy from $74.00 to $78.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. BMO Capital Markets lifted their price target on shares of Xcel Energy from $69.00 to $73.00 and gave the company a "market perform" rating in a research note on Wednesday, April 23rd. Wells Fargo & Company set a $78.00 price target on shares of Xcel Energy and gave the company an "overweight" rating in a research note on Friday, April 25th. 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 equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Xcel Energy has an average rating of "Moderate Buy" and a consensus price target of $76.00.

Xcel Energy Company 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.