Magellan Asset Management Ltd Has $184.04 Million Stock Holdings in Xcel Energy Inc. $XEL

Key Points

• Magellan Asset Management increased its stake in Xcel Energy by 9.7% in the first quarter, holding 2,316,759 shares worth about $184.0 million. The utility stock now makes up about 2.4% of the firm’s portfolio.
• Xcel Energy reported Q1 earnings of $0.91 per share, matching analyst expectations, while revenue came in at $4.02 billion versus estimates of $4.21 billion. Analysts currently expect the company to earn 4.11 EPS for the full fiscal year.
• The company continues to attract a Buy consensus from analysts, with a target price of $92.76, and it recently paid a quarterly dividend of $0.5925 per share, equal to a 3.0% annualized yield.

Magellan Asset Management Ltd grew its stake in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 9.7% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 2,316,759 shares of the company's stock after acquiring an additional 205,250 shares during the quarter. Xcel Energy comprises about 2.4% of Magellan Asset Management Ltd's portfolio, making the stock its 16th biggest holding. Magellan Asset Management Ltd owned approximately 0.37% of Xcel Energy worth $184,043,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of XEL. Abound Wealth Management raised its stake in Xcel Energy by 394.5% in the fourth quarter. Abound Wealth Management now owns 361 shares of the company's stock valued at $27,000 after purchasing an additional 288 shares in the last quarter. Evolution Wealth Management Inc. grew its stake in Xcel Energy by 365.3% during the first quarter. Evolution Wealth Management Inc. now owns 349 shares of the company's stock worth $28,000 after buying an additional 274 shares in the last quarter. Garton & Associates Financial Advisors LLC bought a new position in Xcel Energy in the 4th quarter valued at about $30,000. Beacon Financial Strategies CORP bought a new position in Xcel Energy in the 4th quarter valued at about $33,000. Finally, Pittenger & Anderson Inc. raised its position in shares of Xcel Energy by 73.8% in the 4th quarter. Pittenger & Anderson Inc. now owns 471 shares of the company's stock valued at $35,000 after buying an additional 200 shares in the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

Xcel Energy Price Performance

XEL stock opened at $78.72 on Wednesday. The stock has a market cap of $49.14 billion, a price-to-earnings ratio of 22.69, a P/E/G ratio of 2.04 and a beta of 0.39. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.77 and a quick ratio of 0.68. The company has a 50 day simple moving average of $79.50 and a 200 day simple moving average of $79.15. Xcel Energy Inc. has a 1 year low of $69.16 and a 1 year high of $84.23.

Xcel Energy (NASDAQ:XEL - Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported $0.91 earnings per share for the quarter, meeting analysts' consensus estimates of $0.91. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.21 billion. Xcel Energy had a net margin of 14.14% and a return on equity of 10.37%. The company's quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted $0.84 earnings per share. Research analysts anticipate that Xcel Energy Inc. will post 4.11 EPS for the current fiscal year.

Xcel Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Monday, June 15th were issued a dividend of $0.5925 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.37 annualized dividend and a dividend yield of 3.0%. Xcel Energy's dividend payout ratio (DPR) is 68.30%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. BTIG Research reaffirmed a "buy" rating and set a $98.00 price target on shares of Xcel Energy in a report on Friday, June 26th. Morgan Stanley set a $89.00 price objective on shares of Xcel Energy in a research note on Wednesday, June 24th. Barclays boosted their price objective on shares of Xcel Energy from $87.00 to $90.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. UBS Group raised their target price on Xcel Energy from $89.00 to $91.00 and gave the company a "buy" rating in a report on Monday, April 20th. Finally, Mizuho reduced their target price on Xcel Energy from $94.00 to $91.00 and set an "outperform" rating on the stock in a report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Xcel Energy presently has a consensus rating of "Buy" and a consensus target price of $92.76.

Xcel Energy Company Profile

Xcel Energy NASDAQ: XEL is a Minneapolis-based, publicly traded utility holding company that develops, owns and operates regulated electricity and natural gas delivery systems. The company's core activities include generation, transmission and distribution of electricity, the delivery of natural gas to customers, and related customer service operations. Xcel provides a mix of utility services to residential, commercial and industrial customers and participates in wholesale energy markets where appropriate.

Its generation portfolio combines nuclear, natural gas, coal and a growing share of renewable resources such as wind and solar.

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