Illinois Municipal Retirement Fund Sells 59,287 Shares of Xcel Energy Inc. $XEL

Illinois Municipal Retirement Fund trimmed its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL) by 37.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 98,694 shares of the company’s stock after selling 59,287 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Xcel Energy were worth $7,840,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of XEL. Barclays PLC boosted its position in Xcel Energy by 63.6% in the fourth quarter. Barclays PLC now owns 9,979,397 shares of the company’s stock worth $737,078,000 after purchasing an additional 3,881,011 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Xcel Energy by 16.9% during the 4th quarter. JPMorgan Chase & Co. now owns 24,572,438 shares of the company’s stock valued at $1,814,920,000 after purchasing an additional 3,546,423 shares during the last quarter. Pictet Asset Management Holding SA increased its position in shares of Xcel Energy by 37.1% during the 1st quarter. Pictet Asset Management Holding SA now owns 8,871,863 shares of the company’s stock valued at $704,780,000 after purchasing an additional 2,399,089 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Xcel Energy by 9.0% during the 2nd quarter. Bank of America Corp DE now owns 26,262,079 shares of the company’s stock worth $1,788,448,000 after purchasing an additional 2,157,602 shares during the period. Finally, Boston Partners raised its stake in shares of Xcel Energy by 4,530.7% during the 4th quarter. Boston Partners now owns 2,024,541 shares of the company’s stock worth $149,538,000 after purchasing an additional 1,980,821 shares during the period. 78.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Morgan Stanley set a $89.00 price target on shares of Xcel Energy in a report on Wednesday, June 24th. New Street Research set a $91.00 price objective on shares of Xcel Energy in a research report on Tuesday, June 23rd. Evercore reiterated an “outperform” rating and issued a $96.00 target price on shares of Xcel Energy in a research note on Monday, May 4th. UBS Group increased their target price on shares of Xcel Energy from $89.00 to $91.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Finally, Truist Financial increased their target price on shares of Xcel Energy from $92.00 to $94.00 and gave the company a “buy” rating in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $92.76.

Xcel Energy Trading Down 1.5%

Shares of XEL opened at $78.77 on Friday. Xcel Energy Inc. has a fifty-two week low of $69.16 and a fifty-two week high of $84.23. The business has a 50-day moving average of $79.56 and a 200 day moving average of $79.05. The firm has a market cap of $49.17 billion, a P/E ratio of 22.70, a price-to-earnings-growth ratio of 2.08 and a beta of 0.39. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.68 and a current ratio of 0.77.

Xcel Energy (NASDAQ:XEL) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.91 EPS for the quarter, meeting the consensus estimate of $0.91. The business had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $4.21 billion. Xcel Energy had a net margin of 14.14% and a return on equity of 10.37%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.84 earnings per share. As a group, research analysts forecast that Xcel Energy Inc. will post 4.11 EPS for the current year.

Xcel Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Monday, June 15th will be issued a $0.5925 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.37 annualized dividend and a yield of 3.0%. Xcel Energy’s dividend payout ratio (DPR) is 68.30%.

Xcel Energy Company Profile

Xcel Energy (NASDAQ: XEL) is a Minneapolis-based, publicly traded utility holding company that develops, owns and operates regulated electricity and natural gas delivery systems. The company’s core activities include generation, transmission and distribution of electricity, the delivery of natural gas to customers, and related customer service operations. Xcel provides a mix of utility services to residential, commercial and industrial customers and participates in wholesale energy markets where appropriate.

Its generation portfolio combines nuclear, natural gas, coal and a growing share of renewable resources such as wind and solar.