Van ECK Associates Corp increased its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL) by 14.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 78,433 shares of the company’s stock after purchasing an additional 9,661 shares during the period. Van ECK Associates Corp’s holdings in Xcel Energy were worth $5,167,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Pflug Koory LLC acquired a new position in shares of Xcel Energy during the 2nd quarter worth approximately $41,000. MUFG Americas Holdings Corp raised its position in shares of Xcel Energy by 119.1% in the second quarter. MUFG Americas Holdings Corp now owns 710 shares of the company’s stock valued at $47,000 after purchasing an additional 386 shares during the period. Bbva USA acquired a new stake in shares of Xcel Energy during the 2nd quarter worth about $59,000. Credit Agricole S A acquired a new position in Xcel Energy in the 2nd quarter valued at about $96,000. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in Xcel Energy by 13.3% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,563 shares of the company’s stock valued at $103,000 after acquiring an additional 183 shares during the period. Hedge funds and other institutional investors own 76.33% of the company’s stock.
In other news, Chairman Benjamin G. S. Fowke III sold 54,348 shares of the business’s stock in a transaction that occurred on Wednesday, September 1st. The shares were sold at an average price of $69.73, for a total value of $3,789,686.04. Following the completion of the transaction, the chairman now directly owns 200,555 shares in the company, valued at approximately $13,984,700.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.21% of the stock is owned by company insiders.
Xcel Energy (NASDAQ:XEL) last released its earnings results on Thursday, July 29th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. The firm had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $2.84 billion. Xcel Energy had a return on equity of 10.81% and a net margin of 12.28%. Analysts forecast that Xcel Energy Inc. will post 2.98 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 20th. Shareholders of record on Wednesday, September 15th will be paid a dividend of $0.4575 per share. The ex-dividend date is Tuesday, September 14th. This represents a $1.83 dividend on an annualized basis and a yield of 2.86%. Xcel Energy’s payout ratio is 65.59%.
Several research firms have recently commented on XEL. Mizuho upped their target price on Xcel Energy from $63.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, August 4th. Barclays increased their price objective on Xcel Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Xcel Energy presently has an average rating of “Hold” and a consensus target price of $71.43.
Xcel Energy Company Profile
Xcel Energy, Inc operates as a holding company, which engages in the generation, purchase, transmission, distribution and sale of electricity. It operates through the following three segments: Regulated Electric Utility, Regulated Natural Gas Utility and All Others. The Regulated Electric Utility segment generates, transmits and distributes electricity primarily in portions of generates, transmits and distributes electricity in Minnesota, Wisconsin, Michigan, North Dakota, South Dakota, Colorado, Texas and New Mexico.
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