Xcel Energy Inc. (NYSE:XEL) Stake Boosted by Retirement Systems of Alabama
Retirement Systems of Alabama raised its position in Xcel Energy Inc. (NYSE:XEL) by 0.4% during the second quarter, Holdings Channel reports. The institutional investor owned 246,191 shares of the utilities provider’s stock after buying an additional 1,007 shares during the period. Retirement Systems of Alabama’s holdings in Xcel Energy were worth $11,295,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Sharkey Howes & Javer raised its position in shares of Xcel Energy by 0.5% in the first quarter. Sharkey Howes & Javer now owns 2,994 shares of the utilities provider’s stock worth $133,000 after buying an additional 16 shares in the last quarter. Alpha Windward LLC raised its position in shares of Xcel Energy by 0.4% in the first quarter. Alpha Windward LLC now owns 4,022 shares of the utilities provider’s stock worth $179,000 after buying an additional 18 shares in the last quarter. Eqis Capital Management Inc. raised its position in shares of Xcel Energy by 0.5% in the second quarter. Eqis Capital Management Inc. now owns 5,325 shares of the utilities provider’s stock worth $244,000 after buying an additional 29 shares in the last quarter. Cleararc Capital Inc. raised its position in shares of Xcel Energy by 0.3% in the first quarter. Cleararc Capital Inc. now owns 12,391 shares of the utilities provider’s stock worth $551,000 after buying an additional 43 shares in the last quarter. Finally, Park Avenue Securities LLC raised its position in shares of Xcel Energy by 0.6% in the second quarter. Park Avenue Securities LLC now owns 8,121 shares of the utilities provider’s stock worth $326,000 after buying an additional 46 shares in the last quarter. 72.03% of the stock is currently owned by institutional investors.
Shares of Xcel Energy Inc. (NYSE:XEL) opened at 48.64 on Friday. The company has a 50-day moving average price of $46.85 and a 200 day moving average price of $45.07. Xcel Energy Inc. has a one year low of $38.00 and a one year high of $48.72. The firm has a market capitalization of $24.70 billion, a P/E ratio of 21.47 and a beta of 0.19.
Xcel Energy (NYSE:XEL) last released its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.02. Xcel Energy had a net margin of 10.08% and a return on equity of 10.42%. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.63 billion. During the same quarter in the previous year, the business earned $0.39 EPS. Xcel Energy’s quarterly revenue was up 5.8% compared to the same quarter last year. Analysts expect that Xcel Energy Inc. will post $2.20 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 20th. Investors of record on Thursday, June 15th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.96%. The ex-dividend date was Tuesday, June 13th. Xcel Energy’s payout ratio is presently 63.44%.
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A number of brokerages have weighed in on XEL. Zacks Investment Research lowered Xcel Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, June 28th. Morgan Stanley increased their price target on Xcel Energy from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Thursday. Jefferies Group LLC restated a “hold” rating and set a $48.00 price objective on shares of Xcel Energy in a report on Friday, June 9th. Deutsche Bank AG upped their price objective on Xcel Energy from $45.00 to $46.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Finally, BMO Capital Markets upped their price objective on Xcel Energy from $46.00 to $47.00 and gave the stock a “market perform” rating in a report on Friday, July 28th. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $46.67.
In related news, EVP Kent T. Larson sold 10,000 shares of Xcel Energy stock in a transaction on Friday, July 28th. The shares were sold at an average price of $47.25, for a total value of $472,500.00. Following the completion of the sale, the executive vice president now owns 80,221 shares of the company’s stock, valued at approximately $3,790,442.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.22% of the stock is currently owned by insiders.
About Xcel Energy
Xcel Energy Inc is a public utility holding company. The Company’s operations include the activity of four utility subsidiaries that serve electric and natural gas customers in eight states. The Company’s segments include regulated electric utility, regulated natural gas utility and all other. The Company’s utility subsidiaries include NSP-Minnesota, NSP-Wisconsin, Public Service Company of Colorado (PSCo) and Southwestern Public Service Co (SPS), which serve customers in portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin.
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