World Asset Management Inc Reduces Stock Position in Xcel Energy Inc. (NASDAQ:XEL)

World Asset Management Inc lowered its position in shares of Xcel Energy Inc. (NASDAQ:XEL) by 3.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,471 shares of the company’s stock after selling 501 shares during the period. World Asset Management Inc’s holdings in Xcel Energy were worth $904,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in XEL. BlackRock Inc. raised its holdings in Xcel Energy by 11.7% in the 2nd quarter. BlackRock Inc. now owns 53,291,359 shares of the company’s stock worth $3,510,834,000 after purchasing an additional 5,583,732 shares in the last quarter. Vanguard Group Inc. raised its holdings in Xcel Energy by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 48,065,770 shares of the company’s stock worth $3,166,573,000 after purchasing an additional 440,407 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Xcel Energy by 11.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 41,959,858 shares of the company’s stock worth $2,764,317,000 after purchasing an additional 4,340,845 shares in the last quarter. Geode Capital Management LLC raised its holdings in Xcel Energy by 2.7% in the 2nd quarter. Geode Capital Management LLC now owns 10,200,772 shares of the company’s stock worth $670,289,000 after purchasing an additional 267,281 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Xcel Energy by 19.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 9,352,755 shares of the company’s stock worth $616,159,000 after purchasing an additional 1,495,984 shares in the last quarter. 75.09% of the stock is owned by institutional investors and hedge funds.

In related news, Chairman Benjamin G. S. Fowke III sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, December 13th. The shares were sold at an average price of $67.57, for a total value of $3,378,500.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Frank P. Prager sold 3,150 shares of the firm’s stock in a transaction that occurred on Friday, October 29th. The stock was sold at an average price of $64.60, for a total transaction of $203,490.00. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Several brokerages have commented on XEL. KeyCorp upped their price objective on shares of Xcel Energy from $75.00 to $76.00 and gave the stock an “overweight” rating in a report on Thursday. Mizuho upgraded shares of Xcel Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $64.00 to $72.00 in a research note on Monday, January 10th. Barclays upgraded shares of Xcel Energy from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $75.00 to $76.00 in a research note on Friday, October 1st. Bank of America upgraded shares of Xcel Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $67.00 to $72.00 in a research note on Friday, October 29th. Finally, The Goldman Sachs Group upgraded shares of Xcel Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $73.00 to $76.00 in a research note on Tuesday, October 12th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $72.00.

NASDAQ:XEL opened at $68.97 on Friday. The firm has a market cap of $37.15 billion, a P/E ratio of 23.62, a P/E/G ratio of 3.42 and a beta of 0.36. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.68 and a current ratio of 0.78. Xcel Energy Inc. has a fifty-two week low of $57.23 and a fifty-two week high of $72.94. The firm has a 50-day simple moving average of $66.45 and a two-hundred day simple moving average of $66.56.

Xcel Energy (NASDAQ:XEL) last announced its quarterly earnings results on Thursday, October 28th. The company reported $1.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.05). The company had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.41 billion. Xcel Energy had a net margin of 12.06% and a return on equity of 10.60%. The business’s revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.14 EPS. On average, equities research analysts predict that Xcel Energy Inc. will post 2.97 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 20th. Stockholders of record on Wednesday, December 22nd will be issued a dividend of $0.4575 per share. This represents a $1.83 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Tuesday, December 21st. Xcel Energy’s payout ratio is presently 62.67%.

Xcel Energy 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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Institutional Ownership by Quarter for Xcel Energy (NASDAQ:XEL)

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