New Mexico Educational Retirement Board decreased its position in Xcel Energy Inc. (NYSE:XEL) by 8.2% during the second quarter, Holdings Channel reports. The institutional investor owned 47,228 shares of the utilities provider’s stock after selling 4,200 shares during the period. New Mexico Educational Retirement Board’s holdings in Xcel Energy were worth $2,234,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Xcel Energy by 2,692.8% in the first quarter. BlackRock Inc. now owns 41,639,955 shares of the utilities provider’s stock worth $1,850,897,000 after buying an additional 40,148,954 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Xcel Energy by 3.4% in the first quarter. Vanguard Group Inc. now owns 35,162,997 shares of the utilities provider’s stock worth $1,562,996,000 after buying an additional 1,152,946 shares in the last quarter. FMR LLC boosted its stake in shares of Xcel Energy by 10.2% in the first quarter. FMR LLC now owns 17,771,752 shares of the utilities provider’s stock worth $789,955,000 after buying an additional 1,644,276 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Xcel Energy by 2.0% in the first quarter. Wellington Management Group LLP now owns 11,536,713 shares of the utilities provider’s stock worth $512,808,000 after buying an additional 222,533 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Xcel Energy by 6.9% in the first quarter. Geode Capital Management LLC now owns 5,063,694 shares of the utilities provider’s stock worth $224,766,000 after buying an additional 325,049 shares in the last quarter. 72.03% of the stock is owned by institutional investors.
Xcel Energy Inc. (NYSE:XEL) opened at 48.64 on Friday. The stock has a market cap of $24.70 billion, a price-to-earnings ratio of 21.47 and a beta of 0.19. Xcel Energy Inc. has a 52 week low of $38.00 and a 52 week high of $48.72. The company has a 50 day moving average price of $46.85 and a 200 day moving average price of $45.07.
Xcel Energy (NYSE:XEL) last announced its earnings results on Thursday, July 27th. The utilities provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.02. Xcel Energy had a net margin of 10.08% and a return on equity of 10.42%. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter in the prior year, the firm earned $0.39 earnings per share. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. Analysts expect that Xcel Energy Inc. will post $2.20 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, July 20th. Investors of record on Thursday, June 15th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $1.44 annualized dividend and a yield of 2.96%. Xcel Energy’s dividend payout ratio is currently 63.44%.
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A number of equities analysts have weighed in on the company. Deutsche Bank AG lifted their price objective on Xcel Energy from $45.00 to $46.00 and gave the company a “hold” rating in a research note on Friday, April 28th. Jefferies Group LLC reiterated a “hold” rating and set a $46.00 price objective on shares of Xcel Energy in a research note on Thursday, April 27th. Barclays PLC reiterated an “equal weight” rating and set a $47.00 price objective (up previously from $44.00) on shares of Xcel Energy in a research note on Sunday, April 23rd. BidaskClub upgraded Xcel Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Finally, Morgan Stanley lifted their price objective on Xcel Energy from $45.00 to $46.00 and gave the company an “equal weight” rating in a research note on Thursday. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Xcel Energy currently has an average rating of “Hold” and an average price target of $46.67.
In related news, EVP Kent T. Larson sold 10,000 shares of the stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $47.25, for a total transaction of $472,500.00. Following the completion of the transaction, the executive vice president now directly owns 80,221 shares of the company’s stock, valued at $3,790,442.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate 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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