Zions Bancorporation National Association UT Acquires New Position in Xcel Energy Inc. (NASDAQ:XEL)

Key Points

• Zions Bancorporation National Association UT has made a new investment of approximately $9.61 million in Xcel Energy Inc., acquiring 135,772 shares and marking it as their 28th largest holding.
• Xcel Energy reported earnings per share (EPS) of $0.75 for the last quarter, surpassing expectations, while revenue was $3.29 billion, slightly below forecasts.
• The company announced a quarterly dividend of $0.57 per share, representing a 3.1% yield, payable on October 20th to investors of record.

Zions Bancorporation National Association UT bought a new stake in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 135,772 shares of the company's stock, valued at approximately $9,611,000. Xcel Energy comprises about 0.6% of Zions Bancorporation National Association UT's holdings, making the stock its 28th biggest position.

Other large investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Xcel Energy by 18.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 472,344 shares of the company's stock worth $33,437,000 after purchasing an additional 73,036 shares during the last quarter. Navellier & Associates Inc. acquired a new stake in shares of Xcel Energy during the first quarter worth $2,735,000. J.W. Cole Advisors Inc. acquired a new stake in shares of Xcel Energy during the first quarter worth $905,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Xcel Energy during the first quarter worth $329,000. Finally, Pinnacle Financial Partners Inc acquired a new stake in shares of Xcel Energy during the first quarter worth $267,000. Institutional investors and hedge funds own 78.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on XEL shares. Barclays raised their price objective on Xcel Energy from $72.00 to $73.00 and gave the stock an "overweight" rating in a report on Tuesday, April 22nd. Mizuho lifted their target price on Xcel Energy from $74.00 to $78.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Wall Street Zen cut Xcel Energy from a "hold" rating to a "sell" rating in a report on Tuesday, May 20th. BMO Capital Markets lifted their target price on Xcel Energy from $69.00 to $73.00 and gave the company a "market perform" rating in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company set a $78.00 target price on Xcel Energy and gave the company an "overweight" rating in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $76.00.

Xcel Energy Stock Up 0.1%

Shares of XEL traded up $0.10 during midday trading on Friday, reaching $73.33. 3,328,850 shares of the company were exchanged, compared to its average volume of 3,379,997. The stock has a 50-day moving average price of $69.57 and a 200-day moving average price of $69.40. The company has a market cap of $43.37 billion, a price-to-earnings ratio of 20.31, a P/E/G ratio of 2.47 and a beta of 0.34. Xcel Energy Inc. has a 1-year low of $57.24 and a 1-year high of $74.57. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 1.48.

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

Xcel Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Monday, September 15th. Xcel Energy's payout ratio 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.