State of Michigan Retirement System lifted its stake in shares of Xcel Energy Inc (NYSE:XEL) by 11.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 134,059 shares of the utilities provider’s stock after acquiring an additional 13,825 shares during the quarter. State of Michigan Retirement System’s holdings in Xcel Energy were worth $8,379,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in XEL. Accredited Investors Inc. lifted its holdings in Xcel Energy by 152.1% during the second quarter. Accredited Investors Inc. now owns 21,377 shares of the utilities provider’s stock valued at $1,336,000 after purchasing an additional 12,899 shares in the last quarter. Sciencast Management LP purchased a new position in shares of Xcel Energy during the 2nd quarter valued at $3,924,000. Pacer Advisors Inc. lifted its stake in shares of Xcel Energy by 92.5% during the 2nd quarter. Pacer Advisors Inc. now owns 85,848 shares of the utilities provider’s stock valued at $5,366,000 after buying an additional 41,258 shares in the last quarter. GWM Advisors LLC boosted its holdings in Xcel Energy by 3.1% in the 2nd quarter. GWM Advisors LLC now owns 72,705 shares of the utilities provider’s stock worth $4,544,000 after buying an additional 2,182 shares during the period. Finally, Costello Asset Management INC purchased a new stake in Xcel Energy in the 2nd quarter worth $86,000. 73.96% of the stock is owned by institutional investors.
XEL has been the topic of several research analyst reports. Mizuho boosted their price objective on Xcel Energy from $53.00 to $63.00 and gave the company a “neutral” rating in a research report on Wednesday, April 15th. Morgan Stanley lifted their target price on Xcel Energy from $56.00 to $59.00 and gave the company an “underweight” rating in a research note on Friday, July 17th. Wells Fargo & Co lowered shares of Xcel Energy from an “overweight” rating to an “equal weight” rating and set a $70.00 price objective for the company. in a report on Friday, April 24th. They noted that the move was a valuation call. KeyCorp boosted their target price on shares of Xcel Energy from $66.00 to $74.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $62.00 target price on shares of Xcel Energy in a research note on Wednesday, April 8th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. Xcel Energy has a consensus rating of “Hold” and a consensus price target of $64.36.
Shares of NYSE XEL opened at $69.04 on Friday. Xcel Energy Inc has a 12-month low of $46.58 and a 12-month high of $72.14. The firm’s 50-day moving average price is $64.87 and its 200-day moving average price is $64.40.
Xcel Energy (NYSE:XEL) last issued its quarterly earnings data on Thursday, July 30th. The utilities provider reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.08. The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.76 billion.
The business also recently declared a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Monday, June 15th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $1.72 annualized dividend and a yield of 2.49%.
Xcel Energy 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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