Bank of America Corp DE Grows Holdings in Xcel Energy Inc. (NASDAQ:XEL)

Bank of America Corp DE increased its position in shares of Xcel Energy Inc. (NASDAQ:XELGet Rating) by 56.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,108,940 shares of the company’s stock after buying an additional 1,482,671 shares during the period. Bank of America Corp DE owned about 0.75% of Xcel Energy worth $296,543,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in XEL. JFS Wealth Advisors LLC boosted its position in Xcel Energy by 256.3% during the first quarter. JFS Wealth Advisors LLC now owns 342 shares of the company’s stock valued at $25,000 after purchasing an additional 246 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in Xcel Energy in the fourth quarter worth about $29,000. Covestor Ltd acquired a new stake in Xcel Energy in the fourth quarter worth about $31,000. Eagle Bay Advisors LLC boosted its holdings in Xcel Energy by 3,035.7% in the first quarter. Eagle Bay Advisors LLC now owns 439 shares of the company’s stock worth $32,000 after acquiring an additional 425 shares in the last quarter. Finally, Westside Investment Management Inc. boosted its holdings in Xcel Energy by 645.5% in the first quarter. Westside Investment Management Inc. now owns 492 shares of the company’s stock worth $35,000 after acquiring an additional 426 shares in the last quarter. Hedge funds and other institutional investors own 77.52% of the company’s stock.

Xcel Energy Stock Up 0.9 %

Xcel Energy stock opened at $74.53 on Tuesday. The stock has a market capitalization of $40.77 billion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 3.63 and a beta of 0.34. Xcel Energy Inc. has a 12 month low of $61.15 and a 12 month high of $77.66. The business has a 50 day simple moving average of $74.88 and a 200-day simple moving average of $71.92. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.00 and a quick ratio of 0.86.

Xcel Energy (NASDAQ:XELGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.60 EPS for the quarter, meeting analysts’ consensus estimates of $0.60. The business had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Xcel Energy had a return on equity of 10.45% and a net margin of 11.66%. On average, analysts anticipate that Xcel Energy Inc. will post 3.17 EPS for the current fiscal year.

Xcel Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Thursday, September 15th will be paid a $0.4875 dividend. This represents a $1.95 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Wednesday, September 14th. Xcel Energy’s dividend payout ratio is presently 64.78%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on XEL shares. Credit Suisse Group lowered their price target on Xcel Energy to $77.00 in a report on Thursday, June 9th. Morgan Stanley raised their price objective on Xcel Energy from $69.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 23rd. UBS Group reduced their price target on Xcel Energy from $74.00 to $71.00 and set a “neutral” rating for the company in a research report on Thursday, June 30th. Finally, Barclays reduced their price target on Xcel Energy from $82.00 to $78.00 and set an “overweight” rating for the company in a research report on Monday, July 18th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $74.40.

Xcel Energy Profile

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Xcel Energy Inc, through its subsidiaries, generates, purchases, transmits, distributes, and sells electricity. It operates through Regulated Electric Utility, Regulated Natural Gas Utility, and All Other segments. The company generates electricity through coal, nuclear, natural gas, hydroelectric, solar, biomass, oil, wood/refuse, and wind energy sources.

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Institutional Ownership by Quarter for Xcel Energy (NASDAQ:XEL)

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