PNC Financial Services Group Inc. cut its position in shares of Xcel Energy Inc (NYSE:XEL) by 9.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 848,343 shares of the utilities provider’s stock after selling 88,262 shares during the period. PNC Financial Services Group Inc.’s holdings in Xcel Energy were worth $51,155,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Firestone Capital Management bought a new stake in shares of Xcel Energy during the fourth quarter valued at approximately $100,000. Procyon Private Wealth Partners LLC acquired a new stake in Xcel Energy in the 4th quarter valued at about $25,000. Braun Bostich & Associates Inc. bought a new stake in shares of Xcel Energy during the 4th quarter worth approximately $28,000. TFO TDC LLC bought a new stake in shares of Xcel Energy during the 1st quarter worth approximately $28,000. Finally, Princeton Global Asset Management LLC raised its stake in shares of Xcel Energy by 106.4% during the 1st quarter. Princeton Global Asset Management LLC now owns 485 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 250 shares in the last quarter. Institutional investors and hedge funds own 73.96% of the company’s stock.
A number of brokerages have commented on XEL. Royal Bank of Canada reaffirmed a “hold” rating and issued a $62.00 price objective on shares of Xcel Energy in a report on Wednesday, April 8th. Bank of America upgraded Xcel Energy from an “underperform” rating to a “neutral” rating and set a $70.00 price objective for the company in a research report on Friday, January 31st. JPMorgan Chase & Co. dropped their price objective on Xcel Energy from $69.00 to $64.00 and set an “overweight” rating for the company in a research report on Friday, March 27th. BMO Capital Markets assumed coverage on Xcel Energy in a research report on Wednesday, February 19th. They issued a “market perform” rating and a $68.00 target price for the company. Finally, Cfra raised their price objective on Xcel Energy from $62.00 to $64.00 and gave the stock a “sell” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. Xcel Energy currently has an average rating of “Hold” and an average target price of $63.53.
NYSE XEL opened at $60.23 on Thursday. The business has a 50 day simple moving average of $62.35 and a two-hundred day simple moving average of $63.54. Xcel Energy Inc has a 1-year low of $46.58 and a 1-year high of $72.14.
Xcel Energy (NYSE:XEL) last released its quarterly earnings results on Thursday, May 7th. The utilities provider reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.03). The business had revenue of $2.81 billion during the quarter, compared to analyst estimates of $3.27 billion. Xcel Energy’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.61 EPS.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.86%.
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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