National Bank of Canada FI Has $78 Million Stock Holdings in Xcel Energy Inc. (NASDAQ:XEL)

Key Points

• National Bank of Canada FI has reduced its stake in Xcel Energy Inc. by 11.3%, selling 140,562 shares and owning approximately 0.19% of the company valued at $78 million.
• Xcel Energy reported a Q2 EPS of $0.75, surpassing estimates of $0.66, with a revenue of $3.29 billion, reflecting an 8.6% year-over-year growth.
• The company has announced a quarterly dividend of $0.57 per share, equating to an annualized dividend yield of 3.1%, with the payment date set for October 20th.

National Bank of Canada FI trimmed its stake in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 11.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,101,995 shares of the company's stock after selling 140,562 shares during the quarter. National Bank of Canada FI owned about 0.19% of Xcel Energy worth $78,004,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Accent Capital Management LLC bought a new position in Xcel Energy in the 1st quarter worth approximately $29,000. BankPlus Trust Department bought a new position in Xcel Energy in the 1st quarter worth approximately $34,000. Rossby Financial LCC bought a new position in Xcel Energy in the 1st quarter worth approximately $50,000. Itau Unibanco Holding S.A. bought a new position in Xcel Energy in the 4th quarter worth approximately $52,000. Finally, Alpine Bank Wealth Management bought a new position in Xcel Energy in the 1st quarter worth approximately $53,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on XEL shares. 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. BMO Capital Markets increased their price objective on Xcel Energy from $69.00 to $73.00 and gave the stock a "market perform" rating in a report on Wednesday, April 23rd. Mizuho increased their price objective on Xcel Energy from $74.00 to $78.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Evercore ISI increased their price target on Xcel Energy from $74.00 to $77.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Finally, Morgan Stanley decreased their price target on Xcel Energy from $78.00 to $77.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 18th. One 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's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $76.00.

Xcel Energy Price Performance

Shares of XEL traded down $0.29 during trading hours on Tuesday, hitting $72.39. 3,136,922 shares of the company were exchanged, compared to its average volume of 3,643,536. The company has a market capitalization of $42.81 billion, a PE ratio of 20.05, a PEG ratio of 2.47 and a beta of 0.34. 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 firm has a fifty day simple moving average of $69.63 and a 200-day simple moving average of $69.46. Xcel Energy Inc. has a one year low of $58.31 and a one year high of $74.57.

Xcel Energy (NASDAQ:XEL - Get Free Report) last released 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. The business had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.31 billion. Xcel Energy had a return on equity of 10.52% and a net margin of 14.85%. The company's revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company posted $0.54 EPS. As a group, sell-side analysts predict that Xcel Energy Inc. will post 3.82 earnings per share for the current year.

Xcel Energy Announces Dividend

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 dividend payout ratio (DPR) is currently 63.16%.

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.