JPMorgan Chase & Co. increased its stake in shares of Xcel Energy Inc. (NASDAQ:XEL) by 10.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,619,013 shares of the company’s stock after acquiring an additional 3,625,561 shares during the quarter. JPMorgan Chase & Co. owned about 0.07% of Xcel Energy worth $2,502,040,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of Xcel Energy by 2.3% during the first quarter. BlackRock Inc. now owns 47,707,627 shares of the company’s stock worth $3,173,034,000 after purchasing an additional 1,092,044 shares during the period. Magellan Asset Management Ltd boosted its holdings in shares of Xcel Energy by 3.6% in the fourth quarter. Magellan Asset Management Ltd now owns 33,975,698 shares of the company’s stock valued at $2,265,160,000 after acquiring an additional 1,168,898 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Xcel Energy by 13.0% during the fourth quarter. Wells Fargo & Company MN now owns 6,803,547 shares of the company’s stock worth $453,593,000 after acquiring an additional 784,352 shares during the period. Victory Capital Management Inc. raised its holdings in Xcel Energy by 11.9% during the first quarter. Victory Capital Management Inc. now owns 4,509,907 shares of the company’s stock worth $299,955,000 after purchasing an additional 478,938 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Xcel Energy by 7.9% in the 4th quarter. Bank of New York Mellon Corp now owns 4,426,187 shares of the company’s stock valued at $295,093,000 after purchasing an additional 323,752 shares in the last quarter. Institutional investors own 75.30% of the company’s stock.
Several analysts have recently commented on XEL shares. Barclays raised their price target on Xcel Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a report on Tuesday, May 25th. Zacks Investment Research raised shares of Xcel Energy from a “sell” rating to a “hold” rating and set a $64.00 price target on the stock in a report on Wednesday, February 17th. Morgan Stanley raised their price objective on shares of Xcel Energy from $60.00 to $65.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 20th. KeyCorp upped their target price on Xcel Energy from $71.00 to $74.00 and gave the company an “overweight” rating in a research note on Wednesday, April 21st. Finally, TheStreet raised Xcel Energy from a “c+” rating to a “b+” rating in a research note on Monday, April 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $70.43.
Shares of XEL stock traded down $0.04 on Friday, hitting $69.59. 32,977 shares of the stock traded hands, compared to its average volume of 2,966,652. The company has a market cap of $37.45 billion, a P/E ratio of 24.09, a PEG ratio of 3.93 and a beta of 0.28. The stock’s fifty day moving average is $70.29. The company has a quick ratio of 0.79, a current ratio of 0.88 and a debt-to-equity ratio of 1.46. Xcel Energy Inc. has a 1-year low of $57.23 and a 1-year high of $76.44.
Xcel Energy (NASDAQ:XEL) last posted its quarterly earnings results on Thursday, April 29th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.06. The company had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.03 billion. Xcel Energy had a net margin of 12.56% and a return on equity of 10.91%. The company’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same period last year, the firm posted $0.56 EPS. On average, analysts predict that Xcel Energy Inc. will post 2.98 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 20th. Shareholders of record on Tuesday, June 15th will be given a dividend of $0.4575 per share. The ex-dividend date of this dividend is Monday, June 14th. This represents a $1.83 dividend on an annualized basis and a yield of 2.63%. Xcel Energy’s dividend payout ratio (DPR) is presently 65.59%.
About Xcel Energy
Xcel Energy Inc, through its subsidiaries, generates, purchases, transmits, distributes, and sells electricity. It operates through Regulated Electric Utility, Regulated Natural Gas Utility, and All Other segments. The company generates electricity through coal, nuclear, natural gas, hydroelectric, solar, biomass, oil, wood/refuse, and wind energy sources.
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