State of Michigan Retirement System raised its holdings in shares of Xcel Energy Inc (NYSE:XEL) by 11.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 134,059 shares of the utilities provider’s stock after acquiring an additional 13,825 shares during the period. State of Michigan Retirement System’s holdings in Xcel Energy were worth $8,379,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Two Sigma Investments LP lifted its position in Xcel Energy by 64.8% during the first quarter. Two Sigma Investments LP now owns 79,338 shares of the utilities provider’s stock valued at $4,784,000 after purchasing an additional 31,204 shares during the period. Hexavest Inc. purchased a new stake in shares of Xcel Energy in the first quarter worth about $16,220,000. AXA grew its holdings in Xcel Energy by 110.2% during the first quarter. AXA now owns 22,511 shares of the utilities provider’s stock worth $1,358,000 after acquiring an additional 11,800 shares during the period. APG Asset Management N.V. raised its position in Xcel Energy by 187.7% during the first quarter. APG Asset Management N.V. now owns 1,040,316 shares of the utilities provider’s stock valued at $62,731,000 after acquiring an additional 678,675 shares in the last quarter. Finally, Empirical Finance LLC acquired a new position in Xcel Energy in the second quarter valued at approximately $215,000. 73.96% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Benjamin G. S. Fowke III sold 104,796 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $65.84, for a total value of $6,899,768.64. Following the transaction, the chief executive officer now directly owns 461,531 shares of the company’s stock, valued at $30,387,201.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.22% of the stock is owned by corporate insiders.
Shares of Xcel Energy stock opened at $69.04 on Friday. The business has a 50 day simple moving average of $64.87 and a two-hundred day simple moving average of $64.40. Xcel Energy Inc has a 12 month low of $46.58 and a 12 month high of $72.14.
Xcel Energy (NYSE:XEL) last issued its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.08. The firm had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.76 billion.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Monday, June 15th were given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date was Friday, June 12th.
A number of equities research analysts have recently commented on the stock. Mizuho raised their price objective on shares of Xcel Energy from $53.00 to $63.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 15th. Morgan Stanley raised their price target on shares of Xcel Energy from $56.00 to $59.00 and gave the company an “underweight” rating in a research report on Friday, July 17th. Royal Bank of Canada reiterated a “hold” rating and issued a $62.00 price objective on shares of Xcel Energy in a research report on Wednesday, April 8th. Wells Fargo & Co cut Xcel Energy from an “overweight” rating to an “equal weight” rating and set a $70.00 target price on the stock. in a research report on Friday, April 24th. They noted that the move was a valuation call. Finally, KeyCorp lifted their price target on Xcel Energy from $66.00 to $74.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. Xcel Energy presently has an average rating of “Hold” and an average target price of $64.36.
Xcel Energy Company Profile
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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