Xcel Energy Inc. (NASDAQ:XEL) Shares Sold by American International Group Inc.

American International Group Inc. reduced its stake in shares of Xcel Energy Inc. (NASDAQ:XEL) by 0.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 182,362 shares of the company’s stock after selling 678 shares during the period. American International Group Inc.’s holdings in Xcel Energy were worth $9,802,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Criterion Capital Advisors LLC acquired a new position in Xcel Energy in the 4th quarter valued at $25,000. Heritage Wealth Advisors acquired a new position in Xcel Energy in the 4th quarter valued at $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in Xcel Energy in the 4th quarter valued at $25,000. Pacific Capital Wealth Advisors Inc. acquired a new position in Xcel Energy in the 4th quarter valued at $25,000. Finally, Capital Analysts LLC raised its holdings in Xcel Energy by 293.6% in the 4th quarter. Capital Analysts LLC now owns 433 shares of the company’s stock valued at $26,000 after acquiring an additional 323 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Xcel Energy Stock Up 1.2 %

Xcel Energy stock traded up $0.70 during trading on Thursday, reaching $57.06. 1,626,549 shares of the company’s stock were exchanged, compared to its average volume of 4,492,993. The company’s 50-day moving average is $54.26 and its two-hundred day moving average is $55.30. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.74 and a current ratio of 0.86. Xcel Energy Inc. has a 52-week low of $46.79 and a 52-week high of $65.62. The firm has a market cap of $31.70 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 2.42 and a beta of 0.37.

Xcel Energy (NASDAQ:XEL) last posted its quarterly earnings data on Thursday, April 25th. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.08. The company had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Xcel Energy had a net margin of 13.36% and a return on equity of 11.03%. The firm’s revenue for the quarter was down 10.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.76 EPS. On average, analysts predict that Xcel Energy Inc. will post 3.56 earnings per share for the current year.

Xcel Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, July 20th. Shareholders of record on Friday, June 14th were given a $0.5475 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.19 dividend on an annualized basis and a yield of 3.84%. Xcel Energy’s payout ratio is currently 65.77%.

Wall Street Analysts Forecast Growth

XEL has been the subject of several analyst reports. StockNews.com upgraded Xcel Energy from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. Barclays upped their price objective on Xcel Energy from $56.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Bank of America upped their price objective on Xcel Energy from $63.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, April 29th. KeyCorp dropped their price objective on Xcel Energy from $68.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, April 19th. Finally, Morgan Stanley dropped their price objective on Xcel Energy from $65.00 to $62.00 and set an “equal weight” rating for the company in a report on Monday, June 24th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Xcel Energy has an average rating of “Moderate Buy” and an average price target of $62.00.

Xcel Energy Profile

Xcel Energy Inc, through its subsidiaries, engages in the generation, purchasing, transmission, distribution, and sale of electricity. It operates through Regulated Electric Utility, Regulated Natural Gas Utility, and All Other segments. The company generates electricity through wind, nuclear, hydroelectric, biomass, and solar energy sources, as well as coal, natural gas, oil, wood, and refuse-derived fuels.