Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Xcel Energy Inc. (NASDAQ:XEL – Free Report) 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 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.
Read Our Latest Stock Analysis on Xcel Energy
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.
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