Dimensional Fund Advisors LP lessened its holdings in Xcel Energy Inc. (NASDAQ:XEL) by 0.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,198,930 shares of the company’s stock after selling 4,757 shares during the period. Dimensional Fund Advisors LP owned 0.22% of Xcel Energy worth $78,983,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in XEL. Principal Financial Group Inc. increased its position in Xcel Energy by 1.6% during the first quarter. Principal Financial Group Inc. now owns 2,994,848 shares of the company’s stock worth $199,187,000 after purchasing an additional 48,130 shares during the last quarter. E Fund Management Co. Ltd. acquired a new stake in shares of Xcel Energy in the first quarter worth $424,000. Quadrant Capital Group LLC increased its position in shares of Xcel Energy by 58.6% in the first quarter. Quadrant Capital Group LLC now owns 2,648 shares of the company’s stock worth $176,000 after acquiring an additional 978 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Xcel Energy by 14.6% in the first quarter. Prudential Financial Inc. now owns 495,322 shares of the company’s stock worth $32,944,000 after acquiring an additional 63,030 shares in the last quarter. Finally, Moors & Cabot Inc. increased its position in shares of Xcel Energy by 3.2% in the first quarter. Moors & Cabot Inc. now owns 8,532 shares of the company’s stock worth $567,000 after acquiring an additional 268 shares in the last quarter. 76.33% of the stock is currently owned by institutional investors.
Several equities research analysts have recently issued reports on XEL shares. The Goldman Sachs Group raised shares of Xcel Energy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $73.00 to $76.00 in a research report on Tuesday. Barclays upgraded shares of Xcel Energy from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $75.00 to $76.00 in a research note on Friday, October 1st. Finally, Mizuho upped their target price on shares of Xcel Energy from $63.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, August 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $72.13.
Xcel Energy (NASDAQ:XEL) last posted its quarterly earnings data on Thursday, July 29th. The company reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.02. Xcel Energy had a net margin of 12.28% and a return on equity of 10.81%. The firm had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $2.84 billion. As a group, analysts anticipate that Xcel Energy Inc. will post 2.98 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 20th. Stockholders of record on Wednesday, September 15th will be given a $0.4575 dividend. The ex-dividend date of this dividend is Tuesday, September 14th. This represents a $1.83 dividend on an annualized basis and a dividend yield of 2.84%. Xcel Energy’s payout ratio is currently 65.59%.
In related news, Chairman Benjamin G. S. Fowke III sold 54,348 shares of the stock in a transaction dated Wednesday, September 1st. The shares were sold at an average price of $69.73, for a total value of $3,789,686.04. Following the sale, the chairman now owns 200,555 shares of the company’s stock, valued at approximately $13,984,700.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.21% of the company’s stock.
About Xcel Energy
Xcel Energy, Inc operates as a holding company, which engages in the generation, purchase, transmission, distribution and sale of electricity. It operates through the following three segments: Regulated Electric Utility, Regulated Natural Gas Utility and All Others. The Regulated Electric Utility segment generates, transmits and distributes electricity primarily in portions of generates, transmits and distributes electricity in Minnesota, Wisconsin, Michigan, North Dakota, South Dakota, Colorado, Texas and New Mexico.
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