Xcel Energy Inc. $XEL Shares Bought by Van ECK Associates Corp

Key Points

• Van ECK Associates Corp raised its stake in Xcel Energy by 38.5% in Q3 to 277,877 shares (about $22.41M), and overall institutional ownership in the company is high at 78.38% as multiple funds increased positions.
• Xcel reported quarterly EPS of $0.96 (in line with estimates) while revenue of $3.56B missed expectations, and the company raised its quarterly dividend to $0.5925 (annualized $2.37) for a ~2.9% yield.
• Shares traded up to $81.94 (up 1.4%), and Wall Street consensus is bullish with an average rating of "Buy" and an average price target of $88.44, amid several broker target adjustments and upgrades.

Van ECK Associates Corp grew its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 38.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 277,877 shares of the company's stock after purchasing an additional 77,202 shares during the period. Van ECK Associates Corp's holdings in Xcel Energy were worth $22,410,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Capital Research Global Investors raised its holdings in Xcel Energy by 1.5% during the 3rd quarter. Capital Research Global Investors now owns 3,496,842 shares of the company's stock worth $282,020,000 after buying an additional 52,670 shares during the period. Bank of Montreal Can boosted its holdings in shares of Xcel Energy by 127.1% in the third quarter. Bank of Montreal Can now owns 1,449,967 shares of the company's stock worth $116,940,000 after buying an additional 811,360 shares during the period. Legal & General Group Plc increased its position in shares of Xcel Energy by 6.4% in the third quarter. Legal & General Group Plc now owns 6,014,053 shares of the company's stock worth $485,033,000 after acquiring an additional 361,980 shares in the last quarter. Banque Cantonale Vaudoise increased its position in shares of Xcel Energy by 175.0% in the third quarter. Banque Cantonale Vaudoise now owns 29,147 shares of the company's stock worth $2,351,000 after acquiring an additional 18,550 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in shares of Xcel Energy during the third quarter valued at approximately $2,284,000. 78.38% of the stock is currently owned by institutional investors.

Xcel Energy Stock Up 1.4%

Xcel Energy stock traded up $1.12 during trading hours on Friday, hitting $81.94. The company had a trading volume of 712,785 shares, compared to its average volume of 5,005,729. Xcel Energy Inc. has a fifty-two week low of $65.21 and a fifty-two week high of $84.23. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.71 and a quick ratio of 0.60. The firm has a market capitalization of $51.12 billion, a P/E ratio of 23.96, a price-to-earnings-growth ratio of 2.22 and a beta of 0.45. The firm's fifty day moving average is $78.27 and its 200-day moving average is $77.63.

Xcel Energy (NASDAQ:XEL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 4th. The company reported $0.96 EPS for the quarter, meeting the consensus estimate of $0.96. Xcel Energy had a net margin of 13.76% and a return on equity of 10.46%. The business had revenue of $3.56 billion for the quarter, compared to analysts' expectations of $3.77 billion. During the same period in the previous year, the company posted $0.81 EPS. Xcel Energy's revenue was up 14.1% on a year-over-year basis. On average, research analysts forecast that Xcel Energy Inc. will post 3.82 earnings per share for the current year.

Xcel Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 20th. Shareholders of record on Friday, March 13th will be paid a $0.5925 dividend. This represents a $2.37 dividend on an annualized basis and a yield of 2.9%. This is an increase from Xcel Energy's previous quarterly dividend of $0.57. The ex-dividend date is Friday, March 13th. Xcel Energy's dividend payout ratio is presently 69.30%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on XEL. Argus set a $86.00 price objective on shares of Xcel Energy in a research note on Thursday. JPMorgan Chase & Co. cut their target price on shares of Xcel Energy from $90.00 to $87.00 and set an "overweight" rating on the stock in a research note on Thursday, December 11th. Mizuho set a $86.00 target price on Xcel Energy in a report on Friday, January 9th. KeyCorp lowered their price target on Xcel Energy from $85.00 to $84.00 and set an "overweight" rating on the stock in a report on Friday, December 12th. Finally, UBS Group raised Xcel Energy from a "neutral" rating to a "buy" rating and upped their price target for the company from $81.00 to $89.00 in a research report on Friday, February 13th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $88.44.

About Xcel Energy

Xcel Energy NASDAQ: XEL is a Minneapolis-based, publicly traded utility holding company that develops, owns and operates regulated electricity and natural gas delivery systems. The company's core activities include generation, transmission and distribution of electricity, the delivery of natural gas to customers, and related customer service operations. Xcel provides a mix of utility services to residential, commercial and industrial customers and participates in wholesale energy markets where appropriate.

Its generation portfolio combines nuclear, natural gas, coal and a growing share of renewable resources such as wind and solar.

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