Mitsubishi UFJ Trust & Banking Corp Decreases Stake in Xcel Energy Inc. (NASDAQ:XEL)

Key Points

• Mitsubishi UFJ Trust & Banking Corp sold 7.9% of its holdings in Xcel Energy, reducing its ownership to approximately 3.23 million shares, worth around $228.87 million.
• Xcel Energy reported a Q2 EPS of $0.75, exceeding analyst estimates of $0.66, along with an 8.6% year-over-year revenue increase to $3.29 billion.
• The company announced a quarterly dividend of $0.57 per share, with a payout ratio of 63.16%, representing an annual yield of 3.1%.

Mitsubishi UFJ Trust & Banking Corp cut its stake in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 7.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,233,008 shares of the company's stock after selling 279,172 shares during the quarter. Xcel Energy accounts for approximately 0.6% of Mitsubishi UFJ Trust & Banking Corp's holdings, making the stock its 26th biggest position. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.56% of Xcel Energy worth $228,865,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of XEL. Brighton Jones LLC purchased a new stake in shares of Xcel Energy during the 4th quarter worth $240,000. Orion Portfolio Solutions LLC increased its holdings in Xcel Energy by 21.0% in the fourth quarter. Orion Portfolio Solutions LLC now owns 23,057 shares of the company's stock valued at $1,557,000 after buying an additional 4,001 shares in the last quarter. Huntington National Bank lifted its position in shares of Xcel Energy by 4.7% during the 4th quarter. Huntington National Bank now owns 20,002 shares of the company's stock valued at $1,351,000 after acquiring an additional 889 shares during the period. Bryce Point Capital LLC acquired a new stake in shares of Xcel Energy during the 4th quarter valued at approximately $510,000. Finally, OneAscent Financial Services LLC purchased a new stake in shares of Xcel Energy during the 4th quarter worth approximately $257,000. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Xcel Energy Trading Up 1.0%

Xcel Energy stock traded up $0.77 during trading on Monday, hitting $74.24. The company's stock had a trading volume of 5,851,816 shares, compared to its average volume of 3,657,701. The stock's fifty day moving average is $69.18 and its 200 day moving average is $69.19. Xcel Energy Inc. has a 1-year low of $57.24 and a 1-year high of $74.45. The stock has a market capitalization of $42.82 billion, a price-to-earnings ratio of 20.57, a P/E/G ratio of 2.47 and a beta of 0.34. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.85 and a current ratio of 0.96.

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

Xcel Energy Dividend Announcement

The business 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. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.28 annualized dividend and a dividend yield of 3.1%. Xcel Energy's payout ratio is currently 63.16%.

Analyst Upgrades and Downgrades

XEL has been the subject of several research reports. Wells Fargo & Company set a $78.00 price objective on Xcel Energy and gave the stock an "overweight" rating in a report on Friday, April 25th. Evercore ISI boosted their price objective 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. Mizuho raised their target price on shares of Xcel Energy from $74.00 to $78.00 and gave the company an "outperform" rating in a report on Friday. Wall Street Zen downgraded shares of Xcel Energy from a "hold" rating to a "sell" rating in a report on Tuesday, May 20th. Finally, Barclays raised their price objective on shares of Xcel Energy from $72.00 to $73.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average 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.