CIBC Asset Management Inc Grows Holdings in Xcel Energy Inc (XEL)
CIBC Asset Management Inc raised its position in Xcel Energy Inc (NYSE:XEL) by 3.5% in the 4th quarter, HoldingsChannel reports. The fund owned 64,948 shares of the utilities provider’s stock after acquiring an additional 2,202 shares during the quarter. CIBC Asset Management Inc’s holdings in Xcel Energy were worth $3,125,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC acquired a new position in shares of Xcel Energy during the fourth quarter worth about $105,000. Aperio Group LLC grew its position in shares of Xcel Energy by 7.6% during the fourth quarter. Aperio Group LLC now owns 344,338 shares of the utilities provider’s stock worth $16,566,000 after buying an additional 24,404 shares in the last quarter. Comerica Bank grew its position in shares of Xcel Energy by 2.9% during the fourth quarter. Comerica Bank now owns 165,368 shares of the utilities provider’s stock worth $7,532,000 after buying an additional 4,605 shares in the last quarter. Boston Partners grew its position in shares of Xcel Energy by 43.7% during the fourth quarter. Boston Partners now owns 5,126,143 shares of the utilities provider’s stock worth $246,619,000 after buying an additional 1,557,929 shares in the last quarter. Finally, North Star Asset Management Inc. acquired a new position in shares of Xcel Energy during the fourth quarter worth about $254,000. 73.57% of the stock is owned by institutional investors.
Shares of Xcel Energy Inc (XEL) opened at $42.44 on Friday. The firm has a market capitalization of $21,550.00, a P/E ratio of 18.78, a P/E/G ratio of 3.32 and a beta of 0.12. Xcel Energy Inc has a 52 week low of $41.16 and a 52 week high of $52.22. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.68 and a current ratio of 0.87.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, January 20th. Shareholders of record on Thursday, December 28th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date was Wednesday, December 27th. Xcel Energy’s dividend payout ratio is currently 63.72%.
In other Xcel Energy news, EVP Marvin E. Jr. Mcdaniel sold 5,176 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $51.07, for a total value of $264,338.32. Following the completion of the sale, the executive vice president now owns 81,371 shares in the company, valued at $4,155,616.97. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.22% of the stock is currently owned by insiders.
XEL has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on Xcel Energy from $51.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday, October 12th. Zacks Investment Research raised Xcel Energy from a “sell” rating to a “hold” rating in a research report on Friday, October 13th. Bank of America initiated coverage on Xcel Energy in a research report on Tuesday, October 24th. They set a “buy” rating and a $53.00 price objective for the company. SunTrust Banks restated a “hold” rating and set a $47.00 target price on shares of Xcel Energy in a research note on Tuesday, October 24th. Finally, ValuEngine upgraded Xcel Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Ten research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Xcel Energy has an average rating of “Hold” and an average price target of $48.42.
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Xcel Energy Company 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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