Summit X LLC lessened its stake in shares of Xcel Energy Inc (NYSE:XEL) by 19.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,015 shares of the utilities provider’s stock after selling 1,470 shares during the quarter. Summit X LLC’s holdings in Xcel Energy were worth $388,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. First Trust Advisors LP lifted its position in Xcel Energy by 2.1% during the first quarter. First Trust Advisors LP now owns 1,141,363 shares of the utilities provider’s stock worth $64,156,000 after buying an additional 23,738 shares in the last quarter. Belpointe Asset Management LLC purchased a new position in Xcel Energy during the first quarter worth approximately $256,000. Nordea Investment Management AB lifted its position in Xcel Energy by 4.4% during the first quarter. Nordea Investment Management AB now owns 815,862 shares of the utilities provider’s stock worth $45,857,000 after buying an additional 34,284 shares in the last quarter. Laurel Wealth Advisors Inc. purchased a new position in Xcel Energy during the first quarter worth approximately $204,000. Finally, Horizon Investments LLC lifted its position in Xcel Energy by 201.4% during the first quarter. Horizon Investments LLC now owns 41,969 shares of the utilities provider’s stock worth $2,359,000 after buying an additional 28,046 shares in the last quarter. Hedge funds and other institutional investors own 73.96% of the company’s stock.
In other Xcel Energy news, insider Christopher B. Clark sold 2,500 shares of Xcel Energy stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $62.38, for a total value of $155,950.00. Following the sale, the insider now owns 16,560 shares in the company, valued at $1,033,012.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark E. Stoering sold 4,882 shares of Xcel Energy stock in a transaction on Friday, September 6th. The shares were sold at an average price of $64.87, for a total value of $316,695.34. Following the completion of the sale, the insider now owns 51,797 shares in the company, valued at approximately $3,360,071.39. The disclosure for this sale can be found here. Insiders sold 49,382 shares of company stock worth $3,133,045 in the last 90 days. Company insiders own 0.22% of the company’s stock.
Xcel Energy (NYSE:XEL) last posted its earnings results on Thursday, August 1st. The utilities provider reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.07). The business had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the prior year, the company earned $0.52 EPS. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 20th. Shareholders of record on Friday, September 13th will be given a $0.405 dividend. The ex-dividend date is Thursday, September 12th. This represents a $1.62 dividend on an annualized basis and a yield of 2.56%.
A number of equities analysts recently commented on the company. Morgan Stanley lifted their price objective on Xcel Energy from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, September 6th. Mizuho lifted their price objective on Xcel Energy from $50.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. UBS Group lifted their price objective on Xcel Energy from $63.00 to $66.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Barclays downgraded Xcel Energy from an “overweight” rating to an “equal weight” rating and set a $64.00 price objective on the stock. in a research report on Tuesday, August 13th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded Xcel Energy from a “sell” rating to a “hold” rating and set a $66.00 price objective on the stock in a research report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Xcel Energy presently has a consensus rating of “Hold” and a consensus price target of $63.10.
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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