ING Groep NV Raises Stake in Xcel Energy Inc. (XEL)
ING Groep NV boosted its stake in Xcel Energy Inc. (NYSE:XEL) by 1.4% during the second quarter, Holdings Channel reports. The institutional investor owned 7,177 shares of the utilities provider’s stock after buying an additional 100 shares during the period. ING Groep NV’s holdings in Xcel Energy were worth $329,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of XEL. Reilly Financial Advisors LLC boosted its stake in shares of Xcel Energy by 5.8% in the first quarter. Reilly Financial Advisors LLC now owns 2,901 shares of the utilities provider’s stock valued at $129,000 after buying an additional 160 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Xcel Energy by 13.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 154,058 shares of the utilities provider’s stock valued at $6,883,000 after buying an additional 17,905 shares during the last quarter. Greenleaf Trust acquired a new stake in shares of Xcel Energy during the first quarter valued at approximately $221,000. Blackstart Capital LP acquired a new stake in shares of Xcel Energy during the first quarter valued at approximately $12,649,000. Finally, BlackRock Inc. boosted its stake in shares of Xcel Energy by 2,692.8% in the first quarter. BlackRock Inc. now owns 41,639,955 shares of the utilities provider’s stock valued at $1,850,897,000 after buying an additional 40,148,954 shares during the last quarter. 72.03% of the stock is currently owned by hedge funds and other institutional investors.
Xcel Energy Inc. (NYSE XEL) traded up 0.54% during mid-day trading on Thursday, hitting $48.53. 1,382,763 shares of the company were exchanged. The company has a market capitalization of $24.64 billion, a P/E ratio of 21.43 and a beta of 0.19. Xcel Energy Inc. has a 12-month low of $38.00 and a 12-month high of $48.58. The company’s 50-day moving average is $46.82 and its 200 day moving average is $45.04.
Xcel Energy (NYSE:XEL) last announced its earnings results on Thursday, July 27th. The utilities provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. Xcel Energy had a net margin of 10.08% and a return on equity of 10.42%. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter last year, the firm earned $0.39 earnings per share. Xcel Energy’s quarterly revenue was up 5.8% on a year-over-year basis. Analysts expect that Xcel Energy Inc. will post $2.20 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 20th. Investors of record on Thursday, June 15th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date was Tuesday, June 13th. Xcel Energy’s dividend payout ratio is presently 63.44%.
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XEL has been the subject of several recent research reports. Mizuho initiated coverage on shares of Xcel Energy in a research report on Wednesday, April 19th. They set a “neutral” rating and a $44.00 target price for the company. BidaskClub cut shares of Xcel Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. Argus upped their target price on shares of Xcel Energy from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, June 14th. Barclays PLC reiterated an “equal weight” rating and set a $47.00 target price (up previously from $44.00) on shares of Xcel Energy in a research report on Sunday, April 23rd. Finally, Zacks Investment Research cut shares of Xcel Energy from a “buy” rating to a “hold” rating in a research report on Thursday, June 15th. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $46.73.
In related news, EVP Kent T. Larson sold 10,000 shares of Xcel Energy stock in a transaction on Friday, July 28th. The shares were sold at an average price of $47.25, for a total transaction of $472,500.00. Following the completion of the transaction, the executive vice president now owns 80,221 shares of the company’s stock, valued at $3,790,442.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.22% 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 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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