Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Xcel Energy Inc. (NASDAQ:XEL – Get Rating) by 33.0% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 417,538 shares of the company’s stock after acquiring an additional 103,683 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.08% of Xcel Energy worth $30,134,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in XEL. BlackRock Inc. raised its stake in shares of Xcel Energy by 3.3% during the 4th quarter. BlackRock Inc. now owns 54,190,365 shares of the company’s stock valued at $3,668,687,000 after buying an additional 1,755,729 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Xcel Energy by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 50,043,375 shares of the company’s stock valued at $3,611,630,000 after buying an additional 1,263,127 shares during the last quarter. State Street Corp raised its stake in shares of Xcel Energy by 7.9% during the 1st quarter. State Street Corp now owns 29,779,102 shares of the company’s stock valued at $2,163,350,000 after buying an additional 2,169,201 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Xcel Energy by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 10,621,372 shares of the company’s stock valued at $717,362,000 after purchasing an additional 295,321 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Xcel Energy by 4.6% in the 4th quarter. Legal & General Group Plc now owns 6,720,525 shares of the company’s stock valued at $454,978,000 after purchasing an additional 296,420 shares in the last quarter. Institutional investors and hedge funds own 77.52% of the company’s stock.
Xcel Energy Trading Up 0.7 %
XEL opened at $73.90 on Friday. Xcel Energy Inc. has a one year low of $61.15 and a one year high of $77.66. The stock has a market capitalization of $40.42 billion, a PE ratio of 24.45, a P/E/G ratio of 3.70 and a beta of 0.34. The business’s 50 day moving average price is $74.72 and its 200 day moving average price is $71.99. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.86 and a current ratio of 1.00.
Xcel Energy (NASDAQ:XEL – Get Rating) last announced its earnings results on Thursday, July 28th. The company reported $0.60 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.60. The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.18 billion. Xcel Energy had a return on equity of 10.45% and a net margin of 11.66%. As a group, equities research analysts expect that Xcel Energy Inc. will post 3.17 EPS for the current year.
Xcel Energy Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Thursday, September 15th will be given a dividend of $0.4875 per share. This represents a $1.95 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date is Wednesday, September 14th. Xcel Energy’s dividend payout ratio is currently 64.78%.
Analyst Upgrades and Downgrades
Several research firms have commented on XEL. Morgan Stanley boosted their price objective on Xcel Energy from $69.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 23rd. UBS Group cut their price objective on Xcel Energy from $74.00 to $71.00 and set a “neutral” rating for the company in a research note on Thursday, June 30th. Barclays cut their price objective on Xcel Energy from $82.00 to $78.00 and set an “overweight” rating for the company in a research note on Monday, July 18th. Finally, Credit Suisse Group cut their price objective on Xcel Energy to $77.00 in a research note on Thursday, June 9th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Xcel Energy currently has an average rating of “Moderate Buy” and a consensus target price of $74.40.
About Xcel Energy
Xcel Energy Inc, through its subsidiaries, generates, purchases, transmits, distributes, and sells electricity. It operates through Regulated Electric Utility, Regulated Natural Gas Utility, and All Other segments. The company generates electricity through coal, nuclear, natural gas, hydroelectric, solar, biomass, oil, wood/refuse, and wind energy sources.
See Also
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