Vestcor Inc Has $7.53 Million Stake in Xcel Energy Inc. $XEL

Vestcor Inc boosted its position in Xcel Energy Inc. (NASDAQ:XEL) by 64.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 101,926 shares of the company’s stock after buying an additional 40,133 shares during the period. Vestcor Inc’s holdings in Xcel Energy were worth $7,528,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of XEL. Vanguard Group Inc. lifted its holdings in shares of Xcel Energy by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 76,725,720 shares of the company’s stock valued at $6,187,929,000 after purchasing an additional 2,001,018 shares during the last quarter. Cibc World Market Inc. purchased a new stake in Xcel Energy during the 3rd quarter valued at approximately $6,994,000. BI Asset Management Fondsmaeglerselskab A S raised its stake in Xcel Energy by 86.6% during the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 41,406 shares of the company’s stock valued at $3,339,000 after acquiring an additional 19,214 shares during the last quarter. USA Financial Formulas raised its stake in Xcel Energy by 491.3% during the 4th quarter. USA Financial Formulas now owns 21,435 shares of the company’s stock valued at $1,583,000 after acquiring an additional 17,810 shares during the last quarter. Finally, Citigroup Inc. raised its stake in Xcel Energy by 135.3% during the 3rd quarter. Citigroup Inc. now owns 2,017,717 shares of the company’s stock valued at $162,729,000 after acquiring an additional 1,160,205 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on XEL shares. Wall Street Zen downgraded Xcel Energy from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. reduced their price objective on Xcel Energy from $94.00 to $91.00 and set an “overweight” rating for the company in a research note on Thursday, May 14th. Truist Financial reduced their price objective on Xcel Energy from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Monday, May 18th. Barclays reduced their price objective on Xcel Energy from $91.00 to $87.00 and set an “overweight” rating for the company in a research note on Tuesday, May 12th. Finally, KeyCorp upped their price objective on Xcel Energy from $89.00 to $90.00 and gave the company an “overweight” rating in a research note on Tuesday, April 21st. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $90.63.

Xcel Energy Stock Performance

XEL opened at $79.04 on Friday. The stock has a market cap of $49.34 billion, a P/E ratio of 22.78, a P/E/G ratio of 2.02 and a beta of 0.39. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.77 and a quick ratio of 0.68. The stock’s 50 day simple moving average is $79.81 and its 200 day simple moving average is $78.51. Xcel Energy Inc. has a 1-year low of $65.21 and a 1-year high of $84.23.

Xcel Energy (NASDAQ:XEL) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.91 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.91. The business had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $4.21 billion. Xcel Energy had a return on equity of 10.37% and a net margin of 14.14%.The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.84 EPS. As a group, equities analysts anticipate that Xcel Energy Inc. will post 4.11 EPS for the current fiscal year.

Xcel Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Monday, June 15th will be issued a $0.5925 dividend. The ex-dividend date is Monday, June 15th. This represents a $2.37 dividend on an annualized basis and a dividend yield of 3.0%. Xcel Energy’s dividend payout ratio is currently 68.30%.

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.