E Fund Management Co. Ltd. Acquires 8,132 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Key Points

• E Fund Management Co. Ltd. has significantly increased its stake in Xcel Energy, acquiring an additional 8,132 shares, bringing its total holdings to 16,329 shares, worth approximately $1.16 million.
• Xcel Energy reported $0.75 earnings per share for the last quarter, surpassing analysts' expectations of $0.66, with an annual revenue growth of 8.6%.
• The company declared a quarterly dividend of $0.57 per share, reflecting a 3.1% yield, with a dividend payout ratio of 63.16%.

E Fund Management Co. Ltd. boosted its holdings in Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 99.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,329 shares of the company's stock after purchasing an additional 8,132 shares during the quarter. E Fund Management Co. Ltd.'s holdings in Xcel Energy were worth $1,156,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of XEL. Accent Capital Management LLC bought a new position in shares of Xcel Energy in the first quarter worth approximately $29,000. BankPlus Trust Department bought a new position in shares of Xcel Energy in the first quarter worth approximately $34,000. Rossby Financial LCC bought a new position in shares of Xcel Energy in the first quarter worth approximately $50,000. Itau Unibanco Holding S.A. bought a new position in shares of Xcel Energy in the fourth quarter worth approximately $52,000. Finally, Alpine Bank Wealth Management bought a new position in shares of Xcel Energy in the first quarter worth approximately $53,000. Hedge funds and other institutional investors own 78.38% of the company's stock.

Xcel Energy Price Performance

NASDAQ XEL traded down $0.46 on Friday, reaching $71.93. The company had a trading volume of 7,792,732 shares, compared to its average volume of 3,455,766. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 1.48. The stock has a market capitalization of $42.54 billion, a PE ratio of 19.93, a price-to-earnings-growth ratio of 2.42 and a beta of 0.34. The firm's 50 day moving average price is $69.93 and its 200 day moving average price is $69.60. Xcel Energy Inc. has a 12 month low of $59.04 and a 12 month 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.09. The company had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.31 billion. Xcel Energy had a net margin of 14.85% and a return on equity of 10.52%. Xcel Energy's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.54 EPS. As a group, equities analysts predict that Xcel Energy Inc. will post 3.82 earnings per share for the current year.

Xcel Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Monday, September 15th will be issued a $0.57 dividend. The ex-dividend date is Monday, September 15th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.2%. Xcel Energy's payout ratio is 63.16%.

Analyst Ratings Changes

A number of research analysts recently weighed in on XEL shares. Morgan Stanley lowered their price objective 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. Wells Fargo & Company set a $78.00 price objective on shares of Xcel Energy and gave the company an "overweight" rating in a research report on Friday, April 25th. Barclays increased their price objective on shares of Xcel Energy from $72.00 to $73.00 and gave the company an "overweight" rating in a research report on Tuesday, April 22nd. Mizuho increased their price objective on shares of Xcel Energy from $74.00 to $78.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Finally, BMO Capital Markets increased 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 research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.