Mirae Asset Global Investments Co. Ltd. Boosts Holdings in Xcel Energy Inc. (NASDAQ:XEL)

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Xcel Energy Inc. (NASDAQ:XEL) by 45.4% in the third quarter, Holdings Channel.com reports. The firm owned 196,612 shares of the company’s stock after acquiring an additional 61,369 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Xcel Energy were worth $12,695,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TruNorth Capital Management LLC acquired a new stake in shares of Xcel Energy during the second quarter worth approximately $30,000. American National Bank acquired a new stake in shares of Xcel Energy in the 2nd quarter valued at about $32,000. Kimelman & Baird LLC bought a new position in shares of Xcel Energy during the second quarter worth about $35,000. Rothschild Investment LLC acquired a new position in Xcel Energy in the second quarter worth about $37,000. Finally, Voisard Asset Management Group Inc. bought a new stake in Xcel Energy in the second quarter valued at about $43,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Xcel Energy Stock Down 1.0 %

Shares of Xcel Energy stock opened at $64.46 on Monday. Xcel Energy Inc. has a 1-year low of $46.79 and a 1-year high of $65.76. The business’s fifty day moving average price is $63.12 and its two-hundred day moving average price is $57.91. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.97 and a quick ratio of 0.86. The company has a market capitalization of $35.82 billion, a P/E ratio of 19.36, a PEG ratio of 2.80 and a beta of 0.39.

Xcel Energy (NASDAQ:XEL) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.03). Xcel Energy had a net margin of 13.46% and a return on equity of 10.94%. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same quarter in the prior year, the business earned $0.52 EPS. Xcel Energy’s revenue was up .2% compared to the same quarter last year. As a group, research analysts forecast that Xcel Energy Inc. will post 3.55 EPS for the current year.

Xcel Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, October 20th. Investors of record on Friday, September 13th were paid a dividend of $0.548 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.19 annualized dividend and a yield of 3.40%. This is a boost from Xcel Energy’s previous quarterly dividend of $0.55. Xcel Energy’s dividend payout ratio (DPR) is currently 65.77%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. KeyCorp lifted their target price on Xcel Energy from $66.00 to $69.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Barclays lifted their price objective on shares of Xcel Energy from $57.00 to $67.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Wells Fargo & Company increased their target price on shares of Xcel Energy from $63.00 to $66.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Morgan Stanley lifted their price target on shares of Xcel Energy from $68.00 to $73.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Finally, Argus upgraded shares of Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research note on Monday, August 26th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $65.54.

Xcel Energy Company 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.