Xcel Energy Inc. (NASDAQ:XEL) Shares Purchased by State of Michigan Retirement System

State of Michigan Retirement System increased its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL) by 0.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 152,194 shares of the company’s stock after acquiring an additional 1,000 shares during the quarter. State of Michigan Retirement System’s holdings in Xcel Energy were worth $8,129,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Bailard Inc. raised its stake in Xcel Energy by 2.0% during the second quarter. Bailard Inc. now owns 12,074 shares of the company’s stock worth $645,000 after acquiring an additional 242 shares during the period. Verdence Capital Advisors LLC grew its position in Xcel Energy by 97.7% in the 2nd quarter. Verdence Capital Advisors LLC now owns 21,188 shares of the company’s stock worth $1,132,000 after purchasing an additional 10,471 shares during the last quarter. Christopher J. Hasenberg Inc grew its position in Xcel Energy by 134.1% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 5,137 shares of the company’s stock worth $274,000 after purchasing an additional 2,943 shares during the last quarter. Raymond James Trust N.A. grew its position in Xcel Energy by 42.7% in the 2nd quarter. Raymond James Trust N.A. now owns 18,050 shares of the company’s stock worth $964,000 after purchasing an additional 5,398 shares during the last quarter. Finally, Capital Advisors Ltd. LLC grew its position in Xcel Energy by 64.0% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 1,145 shares of the company’s stock worth $61,000 after purchasing an additional 447 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Xcel Energy Trading Down 0.9 %

Shares of NASDAQ:XEL opened at $60.89 on Wednesday. The stock has a market capitalization of $33.83 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 2.60 and a beta of 0.37. Xcel Energy Inc. has a 1-year low of $46.79 and a 1-year high of $64.25. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.74 and a current ratio of 0.86. The company has a 50 day moving average price of $56.16 and a 200 day moving average price of $55.08.

Xcel Energy (NASDAQ:XEL) last issued its earnings results on Thursday, August 1st. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.03). The business had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.29 billion. Xcel Energy had a return on equity of 11.00% and a net margin of 13.46%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.52 earnings per share. On average, research analysts anticipate that Xcel Energy Inc. will post 3.55 EPS for the current fiscal year.

Xcel Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, October 20th. Investors of record on Friday, September 13th will be given a $0.548 dividend. This represents a $2.19 annualized dividend and a dividend yield of 3.60%. The ex-dividend date is Friday, September 13th. This is an increase from Xcel Energy’s previous quarterly dividend of $0.55. Xcel Energy’s dividend payout ratio is 65.77%.

Analyst Upgrades and Downgrades

Several research analysts have commented on XEL shares. StockNews.com upgraded shares of Xcel Energy from a “sell” rating to a “hold” rating in a research report on Thursday, May 2nd. Morgan Stanley upped their target price on shares of Xcel Energy from $62.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Barclays upped their target price on shares of Xcel Energy from $56.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Argus upgraded shares of Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Monday. Finally, Wells Fargo & Company increased their price objective on shares of Xcel Energy from $57.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $62.92.

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.