Bridgewater Associates LP Has $356,000 Holdings in Xcel Energy Inc (XEL)
Bridgewater Associates LP lowered its stake in Xcel Energy Inc (NYSE:XEL) by 37.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,789 shares of the utilities provider’s stock after selling 4,614 shares during the period. Bridgewater Associates LP’s holdings in Xcel Energy were worth $356,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Dupont Capital Management Corp lifted its position in shares of Xcel Energy by 131.8% during the 1st quarter. Dupont Capital Management Corp now owns 2,666 shares of the utilities provider’s stock worth $121,000 after purchasing an additional 1,516 shares during the last quarter. Point72 Asia Hong Kong Ltd lifted its position in shares of Xcel Energy by 328.8% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 3,280 shares of the utilities provider’s stock worth $149,000 after purchasing an additional 2,515 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Xcel Energy by 105.3% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 4,774 shares of the utilities provider’s stock worth $154,000 after purchasing an additional 2,449 shares during the last quarter. Poehling Capital Management LLC lifted its position in shares of Xcel Energy by 91.2% during the 2nd quarter. Poehling Capital Management LLC now owns 3,797 shares of the utilities provider’s stock worth $173,000 after purchasing an additional 1,811 shares during the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of Xcel Energy by 92.0% during the 2nd quarter. Parallel Advisors LLC now owns 4,170 shares of the utilities provider’s stock worth $190,000 after purchasing an additional 1,998 shares during the last quarter. 73.96% of the stock is owned by institutional investors and hedge funds.
In related news, SVP Judy M. Poferl sold 7,182 shares of the business’s stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $48.67, for a total transaction of $349,547.94. Following the transaction, the senior vice president now directly owns 25,460 shares in the company, valued at $1,239,138.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lynn Casey purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, September 5th. The shares were purchased at an average price of $48.89 per share, for a total transaction of $48,890.00. Following the completion of the purchase, the director now directly owns 3,131 shares of the company’s stock, valued at $153,074.59. The disclosure for this purchase can be found here. Insiders own 0.22% of the company’s stock.
Xcel Energy (NYSE:XEL) last issued its quarterly earnings results on Thursday, July 26th. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.05. Xcel Energy had a return on equity of 10.44% and a net margin of 10.06%. The firm had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same period in the previous year, the company posted $0.45 earnings per share. The company’s quarterly revenue was up .5% compared to the same quarter last year. equities analysts forecast that Xcel Energy Inc will post 2.44 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, October 20th. Investors of record on Friday, September 14th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $1.52 annualized dividend and a yield of 3.12%.
Several research firms recently weighed in on XEL. Morgan Stanley boosted their price objective on Xcel Energy from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Tuesday. Zacks Investment Research raised Xcel Energy from a “sell” rating to a “hold” rating in a research report on Monday, July 16th. Barclays began coverage on Xcel Energy in a research report on Tuesday, July 10th. They set an “overweight” rating and a $53.00 price objective for the company. Finally, Bank of America reissued a “neutral” rating on shares of Xcel Energy in a research report on Wednesday, June 27th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $48.20.
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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