Stewart & Patten Co. LLC Decreases Stock Holdings in Xcel Energy Inc. (NASDAQ:XEL)

Stewart & Patten Co. LLC trimmed its holdings in shares of Xcel Energy Inc. (NASDAQ:XELGet Rating) by 3.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 317,713 shares of the company’s stock after selling 10,215 shares during the quarter. Xcel Energy accounts for about 3.7% of Stewart & Patten Co. LLC’s holdings, making the stock its 11th largest position. Stewart & Patten Co. LLC’s holdings in Xcel Energy were worth $22,929,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Nuveen Asset Management LLC grew its holdings in Xcel Energy by 44.4% during the fourth quarter. Nuveen Asset Management LLC now owns 5,881,414 shares of the company’s stock valued at $398,172,000 after purchasing an additional 1,807,448 shares during the period. BlackRock Inc. grew its holdings in Xcel Energy by 3.3% during the fourth quarter. BlackRock Inc. now owns 54,190,365 shares of the company’s stock valued at $3,668,687,000 after purchasing an additional 1,755,729 shares during the period. Marshall Wace LLP grew its holdings in Xcel Energy by 19,643.3% during the fourth quarter. Marshall Wace LLP now owns 1,579,861 shares of the company’s stock valued at $106,957,000 after purchasing an additional 1,571,859 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Xcel Energy by 10.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,222,087 shares of the company’s stock valued at $692,036,000 after purchasing an additional 940,807 shares during the period. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Xcel Energy by 1,929.1% in the fourth quarter. Point72 Asset Management L.P. now owns 956,979 shares of the company’s stock worth $64,787,000 after acquiring an additional 909,817 shares during the period. 75.14% of the stock is owned by institutional investors.

In related news, Director Kim Williams sold 2,000 shares of the firm’s stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $76.21, for a total value of $152,420.00. Following the transaction, the director now directly owns 99,993 shares of the company’s stock, valued at approximately $7,620,466.53. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Frank P. Prager sold 1,000 shares of the stock in a transaction on Friday, April 29th. The stock was sold at an average price of $73.58, for a total value of $73,580.00. Following the completion of the sale, the senior vice president now owns 29,174 shares of the company’s stock, valued at approximately $2,146,622.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,000 shares of company stock worth $1,271,240. 0.05% of the stock is owned by insiders.

NASDAQ XEL opened at $72.63 on Tuesday. The business’s fifty day moving average price is $72.16 and its 200-day moving average price is $70.47. The stock has a market capitalization of $39.56 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 3.57 and a beta of 0.35. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.75 and a quick ratio of 0.66. Xcel Energy Inc. has a 1-year low of $61.15 and a 1-year high of $76.63.

Xcel Energy (NASDAQ:XELGet Rating) last released its quarterly earnings results on Thursday, April 28th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02. The firm had revenue of $3.75 billion for the quarter, compared to analysts’ expectations of $3.42 billion. Xcel Energy had a return on equity of 10.54% and a net margin of 11.84%. The company’s revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.67 EPS. Equities research analysts anticipate that Xcel Energy Inc. will post 3.16 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 20th. Investors of record on Wednesday, June 15th will be issued a $0.4875 dividend. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $1.95 dividend on an annualized basis and a yield of 2.68%. Xcel Energy’s dividend payout ratio is currently 65.22%.

A number of research firms have recently commented on XEL. UBS Group cut their price target on Xcel Energy from $74.00 to $71.00 and set a “neutral” rating for the company in a report on Thursday, June 30th. Credit Suisse Group lowered their price target on Xcel Energy to $77.00 in a research report on Thursday, June 9th. Morgan Stanley decreased their price objective on Xcel Energy from $75.00 to $72.00 and set an “equal weight” rating on the stock in a report on Monday, May 23rd. Finally, KeyCorp lifted their price objective on Xcel Energy from $78.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, April 20th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $74.00.

Xcel Energy Company Profile (Get Rating)

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.

Further Reading

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

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