IFP Advisors Inc increased its position in shares of Xcel Energy Inc (NYSE:XEL) by 37.7% in the third quarter, Holdings Channel reports. The institutional investor owned 10,177 shares of the utilities provider’s stock after buying an additional 2,785 shares during the period. IFP Advisors Inc’s holdings in Xcel Energy were worth $480,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Scout Investments Inc. bought a new stake in Xcel Energy in the second quarter valued at $54,838,000. Carillon Tower Advisers Inc. bought a new stake in Xcel Energy in the second quarter valued at $35,271,000. Morgan Stanley increased its stake in Xcel Energy by 61.5% in the second quarter. Morgan Stanley now owns 2,016,168 shares of the utilities provider’s stock valued at $92,098,000 after purchasing an additional 767,419 shares in the last quarter. Victory Capital Management Inc. increased its stake in Xcel Energy by 6.4% in the second quarter. Victory Capital Management Inc. now owns 3,986,369 shares of the utilities provider’s stock valued at $182,097,000 after purchasing an additional 238,628 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in Xcel Energy by 6.2% in the second quarter. Bank of America Corp DE now owns 4,055,913 shares of the utilities provider’s stock valued at $185,274,000 after purchasing an additional 238,395 shares in the last quarter. 73.96% of the stock is owned by institutional investors and hedge funds.
NYSE:XEL opened at $47.72 on Monday. Xcel Energy Inc has a one year low of $41.51 and a one year high of $52.22.
Xcel Energy (NYSE:XEL) last posted its earnings results on Thursday, October 25th. The utilities provider reported $0.96 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.02). The firm had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.08 billion.
The firm also recently announced a quarterly dividend, which was paid on Saturday, October 20th. Stockholders of record on Friday, September 14th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend was Thursday, September 13th.
Several research firms have weighed in on XEL. Barclays began coverage on shares of Xcel Energy in a research note on Tuesday, July 10th. They issued an “overweight” rating and a $53.00 price target for the company. Zacks Investment Research raised shares of Xcel Energy from a “sell” rating to a “hold” rating in a research note on Monday, July 16th. Morgan Stanley lifted their price target on shares of Xcel Energy from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Tuesday, September 11th. Mizuho downgraded shares of Xcel Energy from a “buy” rating to a “neutral” rating and decreased their price target for the company from $48.50 to $47.00 in a research note on Friday. Finally, Argus lifted their price target on shares of Xcel Energy from $53.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, October 31st. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $49.40.
In other Xcel Energy news, Director Lynn Casey bought 1,000 shares of the firm’s stock in a transaction dated Wednesday, September 5th. The stock was bought at an average cost of $48.89 per share, with a total value of $48,890.00. Following the completion of the transaction, the director now directly owns 3,131 shares in the company, valued at approximately $153,074.59. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $48.67, for a total transaction of $349,547.94. Following the sale, the senior vice president now directly owns 25,460 shares of the company’s stock, valued at $1,239,138.20. The disclosure for this sale can be found here. Insiders own 0.22% of the company’s stock.
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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