Westpac Banking Corp Boosts Stock Holdings in Xcel Energy Inc. (NASDAQ:XEL)

Key Points

• Westpac Banking Corp increased its stake in Xcel Energy Inc. by 205.4% during the 1st quarter, owning 61,838 shares valued at approximately $4.38 million.
• Analysts have set a consensus price target for Xcel Energy at $76.00, with recommendations ranging from buy to sell among various brokers.
• Xcel Energy has announced a quarterly dividend of $0.57 per share, reflecting a dividend yield of 3.1% and a payout ratio of 63.16%.

Westpac Banking Corp boosted its position in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 205.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,838 shares of the company's stock after acquiring an additional 41,592 shares during the quarter. Westpac Banking Corp's holdings in Xcel Energy were worth $4,378,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in XEL. Accent Capital Management LLC bought a new position in shares of Xcel Energy in the first quarter valued at about $29,000. BankPlus Trust Department bought a new position in shares of Xcel Energy in the first quarter valued at about $34,000. Rossby Financial LCC bought a new position in shares of Xcel Energy in the first quarter valued at about $50,000. Itau Unibanco Holding S.A. bought a new position in shares of Xcel Energy in the fourth quarter valued at about $52,000. Finally, Alpine Bank Wealth Management bought a new position in shares of Xcel Energy in the first quarter valued at about $53,000. 78.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on XEL shares. Morgan Stanley lowered their price target on shares of Xcel Energy from $78.00 to $77.00 and set an "equal weight" rating on the stock in a research report on Wednesday, June 18th. Mizuho raised their price target on shares of Xcel Energy from $74.00 to $78.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Evercore ISI lifted their target price on shares of Xcel Energy from $74.00 to $77.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Wells Fargo & Company set a $78.00 price target on shares of Xcel Energy and gave the stock an "overweight" rating in a research report on Friday, April 25th. Finally, BMO Capital Markets boosted their price target on shares of Xcel Energy from $69.00 to $73.00 and gave the stock a "market perform" rating in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Xcel Energy has an average rating of "Moderate Buy" and an average price target of $76.00.

Xcel Energy Stock Up 0.7%

XEL stock traded up $0.53 during midday trading on Wednesday, reaching $72.92. 3,226,986 shares of the company's stock traded hands, compared to its average volume of 3,482,315. The company has a market cap of $43.13 billion, a price-to-earnings ratio of 20.20, a P/E/G ratio of 2.44 and a beta of 0.34. The firm's fifty day moving average price is $69.78 and its 200-day moving average price is $69.51. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 1.48. Xcel Energy Inc. has a 52 week low of $58.40 and a 52 week high of $74.57.

Xcel Energy (NASDAQ:XEL - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.09. The business had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.31 billion. Xcel Energy had a net margin of 14.85% and a return on equity of 10.52%. Xcel Energy's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.54 EPS. As a group, sell-side analysts forecast that Xcel Energy Inc. will post 3.82 earnings per share for the current fiscal year.

Xcel Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Monday, September 15th. Xcel Energy's payout ratio is 63.16%.

About Xcel Energy

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.