US Bancorp DE Sells 9,931 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Key Points

• US Bancorp DE reduced its stake in Xcel Energy Inc. by 2.9% during the first quarter, now owning 333,239 shares valued at approximately $23.59 million.
• Xcel Energy reported earnings of $0.75 per share for the last quarter, exceeding estimates, with a revenue of $3.29 billion, reflecting an 8.6% year-over-year increase.
• The company declared a quarterly dividend of $0.57 per share, with a dividend yield of 3.1% and a payout ratio of 63.16%.

US Bancorp DE lessened its holdings in Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 2.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 333,239 shares of the company's stock after selling 9,931 shares during the quarter. US Bancorp DE owned 0.06% of Xcel Energy worth $23,590,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Brighton Jones LLC bought a new position in shares of Xcel Energy in the fourth quarter worth about $240,000. OneAscent Financial Services LLC bought a new stake in Xcel Energy in the fourth quarter valued at about $257,000. World Investment Advisors acquired a new stake in shares of Xcel Energy in the 4th quarter valued at approximately $304,000. Resona Asset Management Co. Ltd. bought a new position in shares of Xcel Energy during the fourth quarter worth $12,153,000. Finally, Oarsman Capital Inc. lifted its holdings in Xcel Energy by 152.8% during the fourth quarter. Oarsman Capital Inc. now owns 8,272 shares of the company's stock worth $559,000 after acquiring an additional 5,000 shares in the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

Xcel Energy Stock Performance

Shares of NASDAQ:XEL traded down $0.07 during trading on Thursday, hitting $73.23. 3,094,518 shares of the company were exchanged, compared to its average volume of 3,645,765. Xcel Energy Inc. has a 52-week low of $57.24 and a 52-week high of $74.57. The stock has a 50 day moving average of $69.44 and a 200 day moving average of $69.30. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.96 and a quick ratio of 0.85. The company has a market cap of $43.31 billion, a PE ratio of 20.29, a P/E/G ratio of 2.48 and a beta of 0.34.

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

Xcel Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.57 per share. 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 63.16%.

Wall Street Analysts Forecast Growth

XEL has been the subject of several research analyst reports. Wall Street Zen lowered Xcel Energy from a "hold" rating to a "sell" rating in a research report on Tuesday, May 20th. Wells Fargo & Company set a $78.00 price objective on shares of Xcel Energy and gave the stock an "overweight" rating in a research report on Friday, April 25th. Morgan Stanley reduced their target price on shares of Xcel Energy from $78.00 to $77.00 and set an "equal weight" rating for the company in a report on Wednesday, June 18th. Evercore ISI boosted their price target on Xcel Energy from $74.00 to $77.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Finally, Mizuho boosted their price objective on shares of Xcel Energy from $74.00 to $78.00 and gave the company an "outperform" rating in a report on Friday, August 1st. 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, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $76.00.

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.