Mitsubishi UFJ Asset Management Co. Ltd. Acquires Shares of 1,582,019 Xcel Energy Inc. $XEL

Key Points

• Mitsubishi UFJ Asset Management acquired 1,582,019 shares of Xcel Energy worth approximately $127 million, giving it a 0.25% stake. Institutional investors collectively own 78.38% of the company.
• Analysts maintain a generally positive outlook, with Xcel receiving a consensus “Buy” rating and an average price target of $92.41, compared with its reported share price of $79.17.
• Xcel exceeded quarterly EPS expectations with $0.93 versus the $0.79 consensus estimate, although revenue declined 5.1% year over year. The company declared a quarterly dividend of $0.5925, representing a 3.0% annualized yield.

Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,582,019 shares of the company's stock, valued at approximately $127,036,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.25% of Xcel Energy as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in XEL. Evolution Wealth Management Inc. lifted its stake in shares of Xcel Energy by 365.3% in the 1st quarter. Evolution Wealth Management Inc. now owns 349 shares of the company's stock valued at $28,000 after purchasing an additional 274 shares during the period. Garton & Associates Financial Advisors LLC purchased a new stake in Xcel Energy in the fourth quarter worth $30,000. Pittenger & Anderson Inc. grew its stake in Xcel Energy by 73.8% in the fourth quarter. Pittenger & Anderson Inc. now owns 471 shares of the company's stock worth $35,000 after purchasing an additional 200 shares during the period. Cedar Mountain Advisors LLC bought a new position in Xcel Energy in the first quarter worth $39,000. Finally, Measured Wealth Private Client Group LLC bought a new position in Xcel Energy in the third quarter worth $42,000. Institutional investors own 78.38% of the company's stock.

Analyst Ratings Changes

XEL has been the subject of several recent research reports. Truist Financial lowered their price objective on Xcel Energy from $94.00 to $88.00 and set a "buy" rating for the company in a research report on Thursday, August 13th. Mizuho set a $92.00 price target on shares of Xcel Energy in a research note on Friday, July 31st. Jefferies Financial Group set a $101.00 price target on shares of Xcel Energy in a research report on Tuesday, July 7th. KeyCorp reissued an "overweight" rating on shares of Xcel Energy in a research note on Monday, June 8th. Finally, Barclays upped their price objective on shares of Xcel Energy from $87.00 to $90.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $92.41.

Xcel Energy Stock Down 0.1%

Shares of NASDAQ:XEL opened at $79.17 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.62 and a debt-to-equity ratio of 1.49. The stock has a fifty day simple moving average of $79.37 and a two-hundred day simple moving average of $79.68. Xcel Energy Inc. has a 12-month low of $71.29 and a 12-month high of $84.23. The stock has a market capitalization of $49.45 billion, a price-to-earnings ratio of 21.69, a PEG ratio of 2.06 and a beta of 0.39.

Xcel Energy (NASDAQ:XEL - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $0.93 EPS for the quarter, topping analysts' consensus estimates of $0.79 by $0.14. Xcel Energy had a return on equity of 10.65% and a net margin of 15.28%.The firm had revenue of $3.12 billion for the quarter, compared to analysts' expectations of $3.54 billion. During the same period in the prior year, the firm posted $1.59 earnings per share. The company's quarterly revenue was down 5.1% on a year-over-year basis. On average, research analysts anticipate that Xcel Energy Inc. will post 4.11 earnings per share for the current fiscal year.

Xcel Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Tuesday, September 15th will be paid a $0.5925 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $2.37 dividend on an annualized basis and a yield of 3.0%. Xcel Energy's payout ratio is presently 64.93%.

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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