Resona Asset Management Co. Ltd. Sells 8,750 Shares of Xcel Energy Inc. $XEL

Resona Asset Management Co. Ltd. cut its stake in Xcel Energy Inc. (NASDAQ:XEL) by 4.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 200,430 shares of the company’s stock after selling 8,750 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Xcel Energy were worth $16,147,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Xcel Energy in the second quarter valued at approximately $25,000. ORG Partners LLC lifted its holdings in Xcel Energy by 168.4% during the 3rd quarter. ORG Partners LLC now owns 314 shares of the company’s stock worth $25,000 after buying an additional 197 shares in the last quarter. Clearstead Trust LLC boosted its position in Xcel Energy by 202.2% in the 2nd quarter. Clearstead Trust LLC now owns 417 shares of the company’s stock valued at $28,000 after buying an additional 279 shares during the last quarter. Salomon & Ludwin LLC increased its stake in shares of Xcel Energy by 98.8% in the 3rd quarter. Salomon & Ludwin LLC now owns 509 shares of the company’s stock valued at $41,000 after buying an additional 253 shares during the period. Finally, RMG Wealth Management LLC acquired a new stake in shares of Xcel Energy in the 2nd quarter valued at $46,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Xcel Energy Price Performance

XEL opened at $75.01 on Monday. The stock has a market cap of $44.37 billion, a P/E ratio of 22.87, a P/E/G ratio of 2.05 and a beta of 0.46. Xcel Energy Inc. has a 12 month low of $65.21 and a 12 month high of $83.01. The company has a quick ratio of 0.69, a current ratio of 0.79 and a debt-to-equity ratio of 1.51. The company has a fifty day simple moving average of $76.17 and a 200 day simple moving average of $75.85.

Xcel Energy (NASDAQ:XEL) last posted its earnings results on Wednesday, October 29th. The company reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). The business had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.89 billion. Xcel Energy had a net margin of 13.46% and a return on equity of 10.45%. The firm’s revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.25 earnings per share. On average, research analysts expect that Xcel Energy Inc. will post 3.82 EPS for the current year.

Xcel Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 20th. Investors of record on Monday, December 29th were paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Monday, December 29th. Xcel Energy’s dividend payout ratio is presently 69.51%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on XEL shares. BTIG Research upgraded Xcel Energy to a “strong-buy” rating in a report on Wednesday, October 22nd. JPMorgan Chase & Co. reduced their target price on shares of Xcel Energy from $90.00 to $87.00 and set an “overweight” rating on the stock in a research note on Thursday, December 11th. Jefferies Financial Group lifted their price target on shares of Xcel Energy from $84.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Mizuho set a $86.00 price objective on shares of Xcel Energy in a report on Friday, January 9th. Finally, Citigroup raised their price objective on shares of Xcel Energy from $80.00 to $92.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Three investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $87.53.

Xcel Energy Company 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.