Lazard Asset Management LLC Sells 88,722 Shares of Xcel Energy Inc. (XEL)
Lazard Asset Management LLC lowered its stake in Xcel Energy Inc. (NYSE:XEL) by 7.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,150,246 shares of the utilities provider’s stock after selling 88,722 shares during the period. Lazard Asset Management LLC owned 0.23% of Xcel Energy worth $52,772,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of XEL. BlackRock Inc. grew its stake in shares of Xcel Energy by 2,692.8% in the 1st quarter. BlackRock Inc. now owns 41,639,955 shares of the utilities provider’s stock worth $1,850,897,000 after buying an additional 40,148,954 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Xcel Energy by 12.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 28,507,015 shares of the utilities provider’s stock worth $1,307,902,000 after buying an additional 3,187,095 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Xcel Energy by 367.2% in the 2nd quarter. Principal Financial Group Inc. now owns 3,741,935 shares of the utilities provider’s stock worth $171,680,000 after buying an additional 2,940,959 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Xcel Energy by 72.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,836,464 shares of the utilities provider’s stock worth $267,813,000 after buying an additional 2,446,904 shares during the last quarter. Finally, FMR LLC grew its stake in shares of Xcel Energy by 10.2% in the 1st quarter. FMR LLC now owns 17,771,752 shares of the utilities provider’s stock worth $789,955,000 after buying an additional 1,644,276 shares during the last quarter. Institutional investors own 72.45% of the company’s stock.
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In related news, Director Daniel Yohannes acquired 1,000 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were purchased at an average cost of $49.53 per share, with a total value of $49,530.00. Following the completion of the acquisition, the director now directly owns 1,000 shares of the company’s stock, valued at $49,530. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kent T. Larson sold 10,000 shares of the business’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $47.25, for a total transaction of $472,500.00. Following the sale, the executive vice president now directly owns 80,221 shares in the company, valued at $3,790,442.25. The disclosure for this sale can be found here. Corporate insiders own 0.22% of the company’s stock.
XEL has been the topic of several recent research reports. Jefferies Group LLC restated a “hold” rating and issued a $48.00 price target on shares of Xcel Energy in a research note on Friday, June 9th. Argus upped their price target on Xcel Energy from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, June 14th. Zacks Investment Research upgraded Xcel Energy from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Wednesday, June 14th. BidaskClub downgraded Xcel Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Finally, BMO Capital Markets upped their price target on Xcel Energy from $46.00 to $47.00 and gave the stock a “market perform” rating in a research note on Friday, July 28th. Ten equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $46.82.
Shares of Xcel Energy Inc. (XEL) traded down 0.23% during mid-day trading on Tuesday, reaching $48.51. The company’s stock had a trading volume of 654,063 shares. The firm’s 50 day moving average is $48.95 and its 200 day moving average is $46.50. The firm has a market cap of $24.63 billion, a PE ratio of 21.42 and a beta of 0.20. Xcel Energy Inc. has a one year low of $38.00 and a one year high of $50.56.
Xcel Energy (NYSE:XEL) last issued its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.63 billion. Xcel Energy had a return on equity of 10.42% and a net margin of 10.08%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.39 earnings per share. On average, equities analysts anticipate that Xcel Energy Inc. will post $2.20 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, September 15th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Thursday, September 14th. Xcel Energy’s payout ratio is presently 63.44%.
Xcel Energy Profile
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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