Xcel Energy Inc. $XEL Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Key Points

• Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its Xcel Energy stake by 5.5% in the first quarter, selling 61,569 shares and leaving it with 1,050,096 shares worth about $83.4 million.
• Xcel Energy reported quarterly EPS of $0.91, matching analyst expectations, while revenue of $4.02 billion came in below forecasts; revenue still rose 2.9% year over year.
• The company announced a quarterly dividend of $0.5925 per share, implying an annualized yield of about 3.0%, and analysts currently rate the stock a consensus Buy with a $92 average price target.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its position in Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 5.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,050,096 shares of the company's stock after selling 61,569 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.17% of Xcel Energy worth $83,420,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vermillion & White Wealth Management Group LLC acquired a new position in Xcel Energy in the 3rd quarter worth about $27,000. Abound Wealth Management grew its position in Xcel Energy by 394.5% during the fourth quarter. Abound Wealth Management now owns 361 shares of the company's stock worth $27,000 after buying an additional 288 shares in the last quarter. Evolution Wealth Management Inc. raised its stake in shares of Xcel Energy by 365.3% in the first quarter. Evolution Wealth Management Inc. now owns 349 shares of the company's stock valued at $28,000 after purchasing an additional 274 shares in the last quarter. Garton & Associates Financial Advisors LLC bought a new position in shares of Xcel Energy during the 4th quarter worth about $30,000. Finally, Beacon Financial Strategies CORP bought a new stake in shares of Xcel Energy in the 4th quarter valued at approximately $33,000. 78.38% of the stock is owned by institutional investors and hedge funds.

Xcel Energy Stock Performance

XEL stock traded up $1.04 during trading hours on Friday, hitting $80.06. 3,537,624 shares of the stock were exchanged, compared to its average volume of 5,412,549. Xcel Energy Inc. has a 12 month low of $67.81 and a 12 month high of $84.23. The company has a 50-day simple moving average of $79.68 and a two-hundred day simple moving average of $78.85. The firm has a market capitalization of $49.98 billion, a P/E ratio of 23.07, a P/E/G ratio of 2.08 and a beta of 0.39. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.45.

Xcel Energy (NASDAQ:XEL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.91 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.91. The business had revenue of $4.02 billion during the quarter, compared to analysts' expectations of $4.21 billion. Xcel Energy had a return on equity of 10.37% and a net margin of 14.14%.The firm's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.84 earnings per share. On average, analysts forecast that Xcel Energy Inc. will post 4.11 earnings per share for the current fiscal year.

Xcel Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Monday, June 15th will be given a dividend of $0.5925 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.37 annualized dividend and a yield of 3.0%. Xcel Energy's dividend payout ratio is currently 68.30%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on XEL shares. KeyCorp reiterated an "overweight" rating on shares of Xcel Energy in a research report on Monday, June 8th. BTIG Research reissued a "buy" rating and set a $98.00 price target on shares of Xcel Energy in a research note on Friday, June 26th. Barclays boosted their target price on Xcel Energy from $87.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday. JPMorgan Chase & Co. dropped their price objective on Xcel Energy from $94.00 to $91.00 and set an "overweight" rating on the stock in a research note on Thursday, May 14th. Finally, New Street Research set a $91.00 price target on shares of Xcel Energy in a research note on Tuesday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Xcel Energy currently has an average rating of "Buy" and a consensus target price of $92.00.

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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