Xcel Energy Inc. $XEL Shares Sold by Magellan Asset Management Ltd

Magellan Asset Management Ltd lowered its stake in shares of Xcel Energy Inc. (NASDAQ:XEL) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,111,509 shares of the company’s stock after selling 14,028 shares during the period. Xcel Energy accounts for 1.9% of Magellan Asset Management Ltd’s investment portfolio, making the stock its 21st largest position. Magellan Asset Management Ltd’s holdings in Xcel Energy were worth $155,956,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC acquired a new position in Xcel Energy during the third quarter worth $27,000. Abound Wealth Management boosted its stake in Xcel Energy by 394.5% during the fourth quarter. Abound Wealth Management now owns 361 shares of the company’s stock worth $27,000 after buying an additional 288 shares during the last quarter. Beacon Financial Strategies CORP acquired a new position in Xcel Energy during the fourth quarter worth $33,000. Pittenger & Anderson Inc. boosted its stake in Xcel Energy by 73.8% during the fourth quarter. Pittenger & Anderson Inc. now owns 471 shares of the company’s stock worth $35,000 after buying an additional 200 shares during the last quarter. Finally, Collier Financial acquired a new position in Xcel Energy during the third quarter worth $38,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Xcel Energy Price Performance

XEL stock opened at $77.77 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $48.55 billion, a PE ratio of 22.41, a P/E/G ratio of 2.01 and a beta of 0.39. Xcel Energy Inc. has a 12-month low of $65.21 and a 12-month high of $84.23. The business’s fifty day moving average price is $79.78 and its 200 day moving average price is $78.51.

Xcel Energy (NASDAQ:XEL) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.91 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.91. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $4.21 billion. Xcel Energy had a return on equity of 10.37% and a net margin of 14.14%.The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.84 EPS. On average, sell-side analysts anticipate that Xcel Energy Inc. will post 4.11 EPS for the current year.

Xcel Energy Dividend Announcement

The business 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 $0.5925 per share. The ex-dividend date is Monday, June 15th. This represents a $2.37 annualized dividend and a yield of 3.0%. Xcel Energy’s dividend payout ratio is 68.30%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Argus set a $86.00 price objective on Xcel Energy in a research note on Thursday, March 12th. Morgan Stanley set a $87.00 price objective on Xcel Energy in a research note on Thursday, May 21st. JPMorgan Chase & Co. decreased their price target on Xcel Energy from $94.00 to $91.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th. Wall Street Zen lowered Xcel Energy from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, UBS Group boosted their price objective on Xcel Energy from $89.00 to $91.00 and gave the company a “buy” rating in a report on Monday, April 20th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $90.63.

Xcel Energy Company Profile

Xcel Energy (NASDAQ: XEL) is a Minneapolis-based, publicly traded utility holding company that develops, owns and operates regulated electricity and natural gas delivery systems. The company’s core activities include generation, transmission and distribution of electricity, the delivery of natural gas to customers, and related customer service operations. Xcel provides a mix of utility services to residential, commercial and industrial customers and participates in wholesale energy markets where appropriate.

Its generation portfolio combines nuclear, natural gas, coal and a growing share of renewable resources such as wind and solar.