State Treasurer State of Michigan trimmed its position in Xcel Energy Inc (NYSE:XEL) by 3.4% during the 4th quarter, Holdings Channel reports. The firm owned 148,834 shares of the utilities provider’s stock after selling 5,200 shares during the quarter. State Treasurer State of Michigan’s holdings in Xcel Energy were worth $7,160,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of XEL. Assetmark Inc. grew its position in Xcel Energy by 118.9% in the third quarter. Assetmark Inc. now owns 2,191 shares of the utilities provider’s stock worth $104,000 after acquiring an additional 1,190 shares in the last quarter. Krilogy Financial LLC purchased a new position in Xcel Energy in the third quarter worth about $127,000. BB&T Investment Services Inc. grew its position in Xcel Energy by 73.3% in the third quarter. BB&T Investment Services Inc. now owns 2,730 shares of the utilities provider’s stock worth $145,000 after acquiring an additional 1,155 shares in the last quarter. Sandy Spring Bank grew its position in Xcel Energy by 56.6% in the third quarter. Sandy Spring Bank now owns 3,761 shares of the utilities provider’s stock worth $178,000 after acquiring an additional 1,360 shares in the last quarter. Finally, BB&T Securities LLC purchased a new position in Xcel Energy in the third quarter worth about $206,000. 73.30% of the stock is currently owned by hedge funds and other institutional investors.
In other Xcel Energy news, EVP Marvin E. Jr. Mcdaniel sold 5,176 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $51.07, for a total transaction of $264,338.32. Following the completion of the transaction, the executive vice president now owns 81,371 shares in the company, valued at $4,155,616.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.22% of the stock is owned by insiders.
XEL has been the subject of several recent research reports. ValuEngine upgraded Xcel Energy from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Zacks Investment Research lowered Xcel Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Morgan Stanley lifted their price target on Xcel Energy from $50.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 13th. SunTrust Banks reiterated a “hold” rating and issued a $47.00 price target on shares of Xcel Energy in a research report on Tuesday, October 24th. Finally, JPMorgan Chase & Co. lifted their price target on Xcel Energy from $51.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday, October 12th. Ten analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $48.83.
Xcel Energy Inc (NYSE:XEL) opened at $44.48 on Monday. Xcel Energy Inc has a 12-month low of $41.16 and a 12-month high of $52.22. The stock has a market capitalization of $22,580.00, a P/E ratio of 19.09, a price-to-earnings-growth ratio of 3.41 and a beta of 0.12. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.68 and a current ratio of 0.87.
The firm also recently announced a quarterly dividend, which was paid on Saturday, January 20th. Shareholders of record on Thursday, December 28th were given a dividend of $0.36 per share. The ex-dividend date was Wednesday, December 27th. This represents a $1.44 annualized dividend and a dividend yield of 3.24%. Xcel Energy’s dividend payout ratio (DPR) is presently 61.80%.
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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