Pictet Asset Management Ltd. decreased its position in Xcel Energy Inc. (NYSE:XEL) by 7.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,478,867 shares of the utilities provider’s stock after selling 187,059 shares during the quarter. Pictet Asset Management Ltd. owned 0.49% of Xcel Energy worth $117,300,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in XEL. First Quadrant L P CA increased its position in shares of Xcel Energy by 0.3% during the third quarter. First Quadrant L P CA now owns 622,285 shares of the utilities provider’s stock worth $29,447,000 after acquiring an additional 1,816 shares during the period. Aperio Group LLC increased its position in shares of Xcel Energy by 7.3% during the third quarter. Aperio Group LLC now owns 319,934 shares of the utilities provider’s stock worth $15,139,000 after acquiring an additional 21,886 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Xcel Energy during the third quarter worth $213,000. Xact Kapitalforvaltning AB increased its position in shares of Xcel Energy by 4.7% during the third quarter. Xact Kapitalforvaltning AB now owns 42,173 shares of the utilities provider’s stock worth $1,996,000 after acquiring an additional 1,897 shares during the period. Finally, CAPROCK Group Inc. purchased a new stake in shares of Xcel Energy during the third quarter worth $237,000. 72.57% of the stock is currently owned by institutional investors.
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In related news, Director Daniel Yohannes acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was bought at an average cost of $49.53 per share, with a total value of $49,530.00. Following the acquisition, the director now directly owns 1,000 shares in the company, valued at $49,530. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.22% of the stock is owned by company insiders.
A number of research firms have recently weighed in on XEL. Bank of America Corporation began coverage on Xcel Energy in a research report on Tuesday, October 24th. They set a “buy” rating and a $53.00 price objective on the stock. SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $47.00 price objective on shares of Xcel Energy in a research report on Tuesday, October 24th. Mizuho reaffirmed a “hold” rating and set a $46.00 price objective on shares of Xcel Energy in a research report on Friday, September 29th. BMO Capital Markets upped their price objective on Xcel Energy from $46.00 to $47.00 and gave the stock a “market perform” rating in a research report on Friday, July 28th. Finally, BidaskClub raised Xcel Energy from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 23rd. Nine analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $48.91.
Shares of Xcel Energy Inc. (NYSE XEL) traded up 0.06% during trading on Tuesday, hitting $49.32. 324,074 shares of the company were exchanged. The company’s 50-day moving average price is $48.44 and its 200 day moving average price is $47.39. The stock has a market cap of $25.04 billion, a P/E ratio of 21.77 and a beta of 0.19. Xcel Energy Inc. has a 12 month low of $38.00 and a 12 month high of $50.56.
Xcel Energy (NYSE:XEL) last released its quarterly earnings results on Thursday, October 26th. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.05. The firm had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.27 billion. Xcel Energy had a net margin of 10.40% and a return on equity of 10.71%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 EPS. On average, equities analysts predict that Xcel Energy Inc. will post $2.20 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 20th. Shareholders of record on Friday, September 15th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend was Thursday, September 14th. Xcel Energy’s dividend payout ratio is currently 61.54%.
About Xcel Energy
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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