Prudential Financial Inc. Has $32,560,000 Position in Xcel Energy Inc. (XEL)
Prudential Financial Inc. increased its stake in shares of Xcel Energy Inc. (NYSE:XEL) by 11.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 727,109 shares of the company’s stock after buying an additional 73,475 shares during the period. Prudential Financial Inc. owned 0.14% of Xcel Energy worth $32,560,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its stake in Xcel Energy by 13.3% in the first quarter. IFP Advisors Inc now owns 14,084 shares of the company’s stock valued at $589,000 after buying an additional 1,648 shares during the last quarter. Virginia Retirement System bought a new stake in Xcel Energy during the first quarter valued at about $32,028,000. Mn Services Vermogensbeheer B.V. bought a new stake in Xcel Energy during the first quarter valued at about $467,000. Aperio Group LLC boosted its stake in Xcel Energy by 3.5% in the first quarter. Aperio Group LLC now owns 232,248 shares of the company’s stock valued at $9,713,000 after buying an additional 7,750 shares during the last quarter. Finally, Commonwealth Equity Services Inc boosted its stake in Xcel Energy by 3.0% in the first quarter. Commonwealth Equity Services Inc now owns 110,429 shares of the company’s stock valued at $4,618,000 after buying an additional 3,177 shares during the last quarter. Hedge funds and other institutional investors own 71.12% of the company’s stock.
Shares of Xcel Energy Inc. (NYSE:XEL) traded up 0.34% during midday trading on Tuesday, reaching $41.82. 995,875 shares of the company traded hands. Xcel Energy Inc. has a 1-year low of $33.73 and a 1-year high of $45.42. The stock has a 50 day moving average price of $42.11 and a 200 day moving average price of $41.90. The firm has a market capitalization of $21.24 billion, a PE ratio of 19.83 and a beta of 0.11.
Xcel Energy (NYSE:XEL) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.01. Xcel Energy had a return on equity of 10.10% and a net margin of 9.92%. The company earned $2.50 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the prior year, the company posted $0.39 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. Analysts expect 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 Thursday, October 20th. Shareholders of record on Thursday, September 15th will be given a $0.34 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $1.36 annualized dividend and a yield of 3.26%. Xcel Energy’s dividend payout ratio is presently 64.46%.
Several research firms have recently issued reports on XEL. Zacks Investment Research upgraded shares of Xcel Energy from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Tuesday, July 12th. Jefferies Group lifted their price objective on shares of Xcel Energy from $42.00 to $45.00 and gave the company a “hold” rating in a research report on Thursday, August 4th. JPMorgan Chase & Co. set a $49.00 price objective on shares of Xcel Energy and gave the company a “buy” rating in a research report on Thursday, September 8th. Argus reiterated a “buy” rating and set a $48.00 price objective (up previously from $46.00) on shares of Xcel Energy in a research report on Wednesday, June 15th. Finally, SunTrust Banks Inc. reduced their price objective on shares of Xcel Energy from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Monday, August 29th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of C$43.75.
In other news, EVP Marvin E. Jr. Mcdaniel sold 11,900 shares of the stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of C$41.66, for a total transaction of C$495,754.00. Following the transaction, the executive vice president now owns 79,404 shares in the company, valued at approximately C$3,307,970.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is owned by company insiders.
Xcel Energy Company Profile
Xcel Energy Inc is a public utility holding company. The Company’s operations include activity of four utility subsidiaries that serve electric and natural gas customers. Its segments are regulated electric utility, regulated natural gas utility and all other. The regulated electric utility segment generates, transmits and distributes electricity in Minnesota, Wisconsin, Michigan, North Dakota, South Dakota, Colorado, Texas and New Mexico.
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