Principal Financial Group Inc. cut its position in Xcel Energy Inc. (NASDAQ:XEL – Free Report) by 5.8% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,961,725 shares of the company’s stock after selling 121,682 shares during the period. Principal Financial Group Inc.’s holdings in Xcel Energy were worth $155,840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently made changes to their positions in XEL. Vermillion & White Wealth Management Group LLC purchased a new stake in Xcel Energy in the 3rd quarter worth about $27,000. Abound Wealth Management lifted its holdings in Xcel Energy by 394.5% during the fourth quarter. Abound Wealth Management now owns 361 shares of the company’s stock valued at $27,000 after purchasing an additional 288 shares during the last quarter. Evolution Wealth Management Inc. boosted its position in Xcel Energy by 365.3% during the first quarter. Evolution Wealth Management Inc. now owns 349 shares of the company’s stock worth $28,000 after purchasing an additional 274 shares during the period. Garton & Associates Financial Advisors LLC bought a new position in Xcel Energy during the fourth quarter worth about $30,000. Finally, Beacon Financial Strategies CORP purchased a new position in shares of Xcel Energy in the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.
Xcel Energy Trading Down 0.4%
Xcel Energy stock opened at $80.17 on Wednesday. The stock has a market cap of $50.05 billion, a P/E ratio of 23.10, a PEG ratio of 2.09 and a beta of 0.39. Xcel Energy Inc. has a fifty-two week low of $68.01 and a fifty-two week high of $84.23. The firm’s fifty day moving average price is $79.61 and its 200-day moving average price is $78.98. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.68 and a current ratio of 0.77.
Xcel Energy Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Monday, June 15th will be issued a $0.5925 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.37 annualized dividend and a dividend yield of 3.0%. Xcel Energy’s dividend payout ratio (DPR) is presently 68.30%.
Analyst Ratings Changes
Several research analysts recently commented on XEL shares. Truist Financial cut their price objective on shares of Xcel Energy from $95.00 to $92.00 and set a “buy” rating for the company in a report on Monday, May 18th. Evercore reissued an “outperform” rating and set a $96.00 target price on shares of Xcel Energy in a report on Monday, May 4th. Barclays increased their target price on Xcel Energy from $87.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Mizuho cut their price target on Xcel Energy from $94.00 to $91.00 and set an “outperform” rating for the company in a report on Tuesday, June 23rd. Finally, BMO Capital Markets lifted their price target on Xcel Energy from $90.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $92.00.
Get Our Latest Stock Report on XEL
Xcel Energy Profile
Xcel Energy (NASDAQ: XEL) is a Minneapolis-based, publicly traded utility holding company that develops, owns and operates regulated electricity and natural gas delivery systems. The company’s core activities include generation, transmission and distribution of electricity, the delivery of natural gas to customers, and related customer service operations. Xcel provides a mix of utility services to residential, commercial and industrial customers and participates in wholesale energy markets where appropriate.
Its generation portfolio combines nuclear, natural gas, coal and a growing share of renewable resources such as wind and solar.
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