Xcel Energy Inc. (XEL) Shares Bought by Wealthfront Inc.
Wealthfront Inc. increased its holdings in shares of Xcel Energy Inc. (NYSE:XEL) by 11.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 14,221 shares of the utilities provider’s stock after acquiring an additional 1,444 shares during the period. Wealthfront Inc.’s holdings in Xcel Energy were worth $652,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. MML Investors Services LLC lifted its stake in shares of Xcel Energy by 28.1% during the 2nd quarter. MML Investors Services LLC now owns 13,105 shares of the utilities provider’s stock worth $601,000 after acquiring an additional 2,873 shares during the last quarter. TIAA FSB bought a new stake in shares of Xcel Energy during the 2nd quarter worth approximately $1,279,000. ETRADE Capital Management LLC bought a new stake in shares of Xcel Energy during the 2nd quarter worth approximately $270,000. Vanguard Group Inc. lifted its stake in shares of Xcel Energy by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 36,034,296 shares of the utilities provider’s stock worth $1,653,253,000 after acquiring an additional 871,299 shares during the last quarter. Finally, Pinebridge Investments L.P. bought a new stake in shares of Xcel Energy during the 2nd quarter worth approximately $199,000. 72.45% of the stock is owned by hedge funds and other institutional investors.
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In other news, EVP Kent T. Larson sold 10,000 shares of the stock in a transaction on Friday, July 28th. The stock was sold at an average price of $47.25, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel Yohannes acquired 1,000 shares of Xcel Energy stock in a transaction dated Tuesday, September 5th. The stock was bought at an average price of $49.53 per share, for a total transaction of $49,530.00. Following the completion of the purchase, the director now owns 1,000 shares of the company’s stock, valued at approximately $49,530. The disclosure for this purchase can be found here. 0.22% of the stock is currently owned by company insiders.
A number of equities research analysts have weighed in on the company. Argus lifted their target price on Xcel Energy from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, June 14th. Jefferies Group LLC reaffirmed a “hold” rating and set a $50.00 target price on shares of Xcel Energy in a research report on Thursday, August 31st. Zacks Investment Research raised Xcel Energy from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Thursday, June 22nd. BidaskClub lowered Xcel Energy from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Finally, Morgan Stanley lifted their target price on Xcel Energy from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Friday, September 8th. Nine 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 currently has an average rating of “Hold” and an average target price of $47.50.
Shares of Xcel Energy Inc. (XEL) traded down 0.677% on Friday, hitting $47.685. The stock had a trading volume of 736,146 shares. The firm has a market cap of $24.21 billion, a price-to-earnings ratio of 21.053 and a beta of 0.20. The stock has a 50 day moving average of $48.98 and a 200 day moving average of $46.54. Xcel Energy Inc. has a 12-month low of $38.00 and a 12-month high of $50.56.
Xcel Energy (NYSE:XEL) last announced 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. The business had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.63 billion. Xcel Energy had a return on equity of 10.42% and a net margin of 10.08%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the firm earned $0.39 earnings per share. Equities analysts predict that Xcel Energy Inc. will post $2.20 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, September 15th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Thursday, September 14th. Xcel Energy’s payout ratio is currently 63.44%.
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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