M&T Bank Corp reduced its position in Xcel Energy Inc (NYSE:XEL) by 8.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,754 shares of the utilities provider’s stock after selling 2,246 shares during the period. M&T Bank Corp’s holdings in Xcel Energy were worth $1,143,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its position in shares of Xcel Energy by 6.4% in the third quarter. JPMorgan Chase & Co. now owns 30,317,644 shares of the utilities provider’s stock valued at $1,436,147,000 after purchasing an additional 1,810,629 shares during the period. Ameriprise Financial Inc. boosted its holdings in Xcel Energy by 12.2% in the third quarter. Ameriprise Financial Inc. now owns 6,547,453 shares of the utilities provider’s stock valued at $309,800,000 after acquiring an additional 710,989 shares during the last quarter. Boston Partners boosted its holdings in Xcel Energy by 43.7% in the fourth quarter. Boston Partners now owns 5,126,143 shares of the utilities provider’s stock valued at $246,619,000 after acquiring an additional 1,557,929 shares during the last quarter. American Century Companies Inc. boosted its holdings in Xcel Energy by 0.5% in the fourth quarter. American Century Companies Inc. now owns 5,013,517 shares of the utilities provider’s stock valued at $241,200,000 after acquiring an additional 24,596 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in Xcel Energy by 5.1% in the third quarter. Legal & General Group Plc now owns 4,434,759 shares of the utilities provider’s stock valued at $209,847,000 after acquiring an additional 214,654 shares during the last quarter. 73.96% of the stock is owned by institutional investors.
Shares of Xcel Energy Inc (XEL) traded up $0.41 during midday trading on Wednesday, hitting $43.54. The stock had a trading volume of 2,770,000 shares, compared to its average volume of 3,970,000. 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 stock has a market capitalization of $22,120.00, a price-to-earnings ratio of 18.93, a price-to-earnings-growth ratio of 3.18 and a beta of 0.18. Xcel Energy Inc has a twelve month low of $41.51 and a twelve month high of $52.22.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 20th. Investors of record on Thursday, March 15th will be issued a $0.38 dividend. This is a positive change from Xcel Energy’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Wednesday, March 14th. Xcel Energy’s payout ratio is currently 62.61%.
A number of research analysts recently weighed in on the company. Zacks Investment Research cut Xcel Energy from a “hold” rating to a “sell” rating in a report on Friday, March 9th. Morgan Stanley upgraded Xcel Energy from an “equal weight” rating to an “overweight” rating and set a $48.00 price objective on the stock in a research note on Tuesday, February 13th. SunTrust Banks set a $43.00 price objective on Xcel Energy and gave the stock a “hold” rating in a research note on Monday, February 12th. Bank of America reduced their price objective on Xcel Energy from $49.00 to $47.00 and set a “buy” rating on the stock in a research note on Thursday, February 8th. Finally, UBS Group assumed coverage on Xcel Energy in a research note on Friday, February 2nd. They set a “neutral” rating and a $47.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $48.00.
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Xcel Energy 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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