Bank of Montreal Can lifted its stake in shares of Xcel Energy Inc (NYSE:XEL) by 15.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 829,470 shares of the utilities provider’s stock after purchasing an additional 109,389 shares during the period. Bank of Montreal Can owned about 0.16% of Xcel Energy worth $39,158,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Boston Partners boosted its position in Xcel Energy by 3.0% during the second quarter. Boston Partners now owns 5,957,623 shares of the utilities provider’s stock worth $272,145,000 after acquiring an additional 172,830 shares during the last quarter. American Century Companies Inc. boosted its position in Xcel Energy by 1.9% during the second quarter. American Century Companies Inc. now owns 5,202,538 shares of the utilities provider’s stock worth $237,652,000 after acquiring an additional 98,931 shares during the last quarter. Legal & General Group Plc boosted its position in Xcel Energy by 4.4% during the second quarter. Legal & General Group Plc now owns 4,778,106 shares of the utilities provider’s stock worth $218,242,000 after acquiring an additional 201,064 shares during the last quarter. Bank of America Corp DE boosted its position in Xcel Energy by 6.2% during the second quarter. Bank of America Corp DE now owns 4,055,913 shares of the utilities provider’s stock worth $185,274,000 after acquiring an additional 238,395 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in Xcel Energy by 6.4% during the second quarter. Victory Capital Management Inc. now owns 3,986,369 shares of the utilities provider’s stock worth $182,097,000 after acquiring an additional 238,628 shares during the last quarter. 73.96% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently weighed in on XEL. Zacks Investment Research upgraded shares of Xcel Energy from a “sell” rating to a “hold” rating in a research report on Monday, July 16th. Bank of America restated a “neutral” rating on shares of Xcel Energy in a research report on Wednesday, June 27th. Morgan Stanley boosted their price target on shares of Xcel Energy from $46.00 to $49.00 and gave the stock an “overweight” rating in a research report on Monday, July 16th. Finally, Barclays began coverage on shares of Xcel Energy in a research report on Tuesday, July 10th. They set an “overweight” rating and a $53.00 price target on the stock. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $48.22.
In other news, Director Lynn Casey bought 1,000 shares of the firm’s stock in a transaction on Wednesday, September 5th. The shares were bought at an average cost of $48.89 per share, for a total transaction of $48,890.00. Following the acquisition, the director now directly owns 3,131 shares of the company’s stock, valued at approximately $153,074.59. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Judy M. Poferl sold 7,182 shares of the business’s stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $48.67, for a total transaction of $349,547.94. Following the completion of the transaction, the senior vice president now owns 25,460 shares in the company, valued at $1,239,138.20. The disclosure for this sale can be found here. Insiders own 0.22% of the company’s stock.
NYSE:XEL opened at $48.34 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.68 and a current ratio of 0.87. Xcel Energy Inc has a 1-year low of $41.51 and a 1-year high of $52.22.
Xcel Energy (NYSE:XEL) last posted its earnings results on Thursday, July 26th. The utilities provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.05. The company had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.71 billion. Xcel Energy had a net margin of 10.06% and a return on equity of 10.44%. Xcel Energy’s revenue was up .5% on a year-over-year basis. During the same period in the previous year, the business posted $0.45 EPS. Analysts predict that Xcel Energy Inc will post 2.44 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, October 20th. Shareholders of record on Friday, September 14th will be issued a $0.38 dividend. The ex-dividend date is Thursday, September 13th. This represents a $1.52 annualized dividend and a yield of 3.14%.
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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