Victory Capital Management Inc. Sells 1,104,538 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Victory Capital Management Inc. lessened its holdings in Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 21.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,991,391 shares of the company's stock after selling 1,104,538 shares during the period. Victory Capital Management Inc. owned 0.69% of Xcel Energy worth $282,551,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. BankPlus Trust Department purchased a new stake in Xcel Energy during the first quarter valued at about $34,000. Rossby Financial LCC purchased a new stake in Xcel Energy during the first quarter valued at about $50,000. Alpine Bank Wealth Management purchased a new stake in Xcel Energy during the first quarter valued at about $53,000. Itau Unibanco Holding S.A. purchased a new stake in Xcel Energy during the fourth quarter valued at about $52,000. Finally, Creative Financial Designs Inc. ADV raised its position in Xcel Energy by 23.2% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 827 shares of the company's stock valued at $56,000 after purchasing an additional 156 shares in the last quarter. Hedge funds and other institutional investors own 78.38% of the company's stock.

Xcel Energy Trading Up 1.1%

Shares of NASDAQ XEL traded up $0.76 during trading hours on Friday, hitting $70.41. The company's stock had a trading volume of 880,454 shares, compared to its average volume of 3,641,733. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.70 and a current ratio of 0.80. The stock has a market cap of $40.61 billion, a price-to-earnings ratio of 20.71, a P/E/G ratio of 2.41 and a beta of 0.36. Xcel Energy Inc. has a 12 month low of $55.02 and a 12 month high of $73.38. The business has a 50-day simple moving average of $68.71 and a 200-day simple moving average of $68.64.

Xcel Energy (NASDAQ:XEL - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.11). The business had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.93 billion. Xcel Energy had a return on equity of 10.20% and a net margin of 14.10%. The firm's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.88 earnings per share. On average, analysts anticipate that Xcel Energy Inc. will post 3.82 earnings per share for the current fiscal year.

Xcel Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, July 20th. Shareholders of record on Friday, June 13th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.28 annualized dividend and a yield of 3.24%. Xcel Energy's payout ratio is 67.06%.

Wall Street Analyst Weigh In

XEL has been the topic of a number of research reports. Wall Street Zen downgraded Xcel Energy from a "hold" rating to a "sell" rating in a research report on Tuesday, May 20th. Evercore ISI raised their price target on Xcel Energy from $74.00 to $77.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Morgan Stanley reduced their price objective on Xcel Energy from $78.00 to $77.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 18th. Wells Fargo & Company set a $78.00 price objective on Xcel Energy and gave the company an "overweight" rating in a research note on Friday, April 25th. Finally, BMO Capital Markets raised their price objective on Xcel Energy from $69.00 to $73.00 and gave the company a "market perform" rating in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $75.80.

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.