Xcel Energy Inc (NYSE:XEL) CFO Robert Frenzel sold 4,400 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $58.60, for a total value of $257,840.00. The sale was disclosed in a filing with the SEC, which is available through this link.
Shares of XEL stock traded up $0.65 during trading on Friday, hitting $60.10. The company’s stock had a trading volume of 316,401 shares, compared to its average volume of 3,201,525. Xcel Energy Inc has a 52 week low of $42.15 and a 52 week high of $60.56.
Xcel Energy (NYSE:XEL) last released its earnings results on Thursday, April 25th. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.61. The business had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.11 billion. The business’s revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.57 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, July 20th. Stockholders of record on Friday, June 14th will be issued a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Thursday, June 13th.
A number of analysts have commented on XEL shares. Zacks Investment Research lowered Xcel Energy from a “buy” rating to a “hold” rating and set a $60.00 price objective for the company. in a report on Saturday, February 16th. Wolfe Research set a $57.00 target price on Xcel Energy and gave the company a “hold” rating in a report on Friday, April 26th. Argus upped their target price on Xcel Energy to $64.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Morgan Stanley upped their target price on Xcel Energy from $57.00 to $60.00 and gave the company an “equal weight” rating in a report on Friday. Finally, KeyCorp initiated coverage on Xcel Energy in a report on Tuesday, June 4th. They issued an “overweight” rating and a $62.00 target price for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Xcel Energy currently has a consensus rating of “Hold” and an average target price of $56.38.
Hedge funds have recently added to or reduced their stakes in the company. Belpointe Asset Management LLC purchased a new position in Xcel Energy in the first quarter valued at approximately $256,000. Nordea Investment Management AB lifted its position in shares of 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 acquiring an additional 34,284 shares in the last quarter. Horizon Investments LLC lifted its position in shares of 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 acquiring an additional 28,046 shares in the last quarter. Laurel Wealth Advisors Inc. purchased a new stake in shares of Xcel Energy during the first quarter worth $204,000. Finally, WealthPLAN Partners LLC lifted its position in shares of Xcel Energy by 8.2% during the first quarter. WealthPLAN Partners LLC now owns 11,072 shares of the utilities provider’s stock worth $634,000 after acquiring an additional 843 shares in the last quarter. 73.96% of the stock is owned by institutional investors.
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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