Nissay Asset Management Corp Japan Purchases 6,970 Shares of Xcel Energy Inc. $XEL

Nissay Asset Management Corp Japan grew its position in shares of Xcel Energy Inc. (NASDAQ:XEL) by 2.6% during the second quarter, Holdings Channel reports. The institutional investor owned 270,775 shares of the company’s stock after purchasing an additional 6,970 shares during the quarter. Nissay Asset Management Corp Japan’s holdings in Xcel Energy were worth $21,743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its holdings in Xcel Energy by 1.7% during the third quarter. Quadrant Capital Group LLC now owns 7,358 shares of the company’s stock valued at $593,000 after purchasing an additional 125 shares during the last quarter. Bleakley Financial Group LLC increased its stake in shares of Xcel Energy by 0.5% in the fourth quarter. Bleakley Financial Group LLC now owns 28,949 shares of the company’s stock worth $2,138,000 after purchasing an additional 131 shares in the last quarter. Hills Bank & Trust Co increased its stake in shares of Xcel Energy by 2.2% in the fourth quarter. Hills Bank & Trust Co now owns 6,184 shares of the company’s stock worth $457,000 after purchasing an additional 133 shares in the last quarter. Keel Point LLC raised its position in shares of Xcel Energy by 2.6% in the fourth quarter. Keel Point LLC now owns 5,485 shares of the company’s stock valued at $405,000 after purchasing an additional 137 shares during the period. Finally, KCM Investment Advisors LLC raised its position in shares of Xcel Energy by 1.9% in the first quarter. KCM Investment Advisors LLC now owns 7,549 shares of the company’s stock valued at $600,000 after purchasing an additional 140 shares during the period. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Xcel Energy Trading Down 0.9%

Shares of XEL stock opened at $76.45 on Friday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.62 and a current ratio of 0.70. Xcel Energy Inc. has a 52-week low of $71.29 and a 52-week high of $84.23. The company has a market capitalization of $47.75 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 2.00 and a beta of 0.39. The business’s fifty day moving average is $79.25 and its 200 day moving average is $79.75.

Xcel Energy (NASDAQ:XEL) last posted its earnings results on Wednesday, July 29th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.79 by $0.14. The business had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.54 billion. Xcel Energy had a return on equity of 10.65% and a net margin of 15.28%.The firm’s revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.59 earnings per share. On average, equities research analysts anticipate that Xcel Energy Inc. will post 4.12 EPS for the current fiscal year.

Xcel Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.5925 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.37 annualized dividend and a dividend yield of 3.1%. Xcel Energy’s payout ratio is presently 64.93%.

Wall Street Analyst Weigh In

XEL has been the subject of several analyst reports. Morgan Stanley cut their price objective on shares of Xcel Energy from $92.00 to $89.00 and set an “equal weight” rating for the company in a report on Friday, August 21st. Evercore reissued an “outperform” rating and set a $96.00 target price on shares of Xcel Energy in a report on Monday, May 4th. BMO Capital Markets dropped their target price on Xcel Energy from $95.00 to $92.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Xcel Energy in a report on Wednesday, June 17th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $99.00 price target on shares of Xcel Energy in a report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $92.41.

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.