CIBC Asset Management Inc Grows Position in Xcel Energy Inc. $XEL

CIBC Asset Management Inc grew its holdings in Xcel Energy Inc. (NASDAQ:XEL) by 26.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 303,970 shares of the company’s stock after buying an additional 62,996 shares during the quarter. CIBC Asset Management Inc’s holdings in Xcel Energy were worth $22,451,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of XEL. Vanguard Group Inc. increased its holdings in shares of Xcel Energy by 2.7% in the third 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. acquired a new position in Xcel Energy during the third quarter worth $6,994,000. BI Asset Management Fondsmaeglerselskab A S grew its holdings in Xcel Energy by 86.6% in 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 buying an additional 19,214 shares in the last quarter. USA Financial Formulas grew its holdings in Xcel Energy by 491.3% in the 4th quarter. USA Financial Formulas now owns 21,435 shares of the company’s stock valued at $1,583,000 after buying an additional 17,810 shares in the last quarter. Finally, Citigroup Inc. increased its stake in shares of Xcel Energy by 135.3% in the 3rd quarter. Citigroup Inc. now owns 2,017,717 shares of the company’s stock worth $162,729,000 after acquiring an additional 1,160,205 shares during the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

Xcel Energy Stock Performance

NASDAQ XEL opened at $77.77 on Friday. The stock has a fifty day simple moving average of $79.78 and a 200-day simple moving average of $78.51. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.45. The stock has a market cap of $48.55 billion, a PE ratio of 22.41, a P/E/G ratio of 2.01 and a beta of 0.39. Xcel Energy Inc. has a twelve month low of $65.21 and a twelve month high of $84.23.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.91 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.91. Xcel Energy had a net margin of 14.14% and a return on equity of 10.37%. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period in the previous year, the firm earned $0.84 EPS. Xcel Energy’s revenue was up 2.9% on a year-over-year basis. Equities analysts anticipate that Xcel Energy Inc. will post 4.11 earnings per share for the current year.

Xcel Energy Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on XEL. UBS Group boosted their price target on shares of Xcel Energy from $89.00 to $91.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Weiss Ratings upgraded shares of Xcel Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, March 20th. Truist Financial decreased their target price on shares of Xcel Energy from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Monday, May 18th. JPMorgan Chase & Co. dropped their price target on shares of Xcel Energy from $94.00 to $91.00 and set an “overweight” rating for the company in a research note on Thursday, May 14th. Finally, Wall Street Zen downgraded shares of Xcel Energy from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Three 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.com, Xcel Energy has an average rating of “Buy” and an average price target of $90.63.

Xcel Energy 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.