National Pension Service Reduces Position in Xcel Energy Inc. (NASDAQ:XEL)

National Pension Service cut its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL) by 55.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 617,660 shares of the company’s stock after selling 753,438 shares during the period. National Pension Service owned approximately 0.11% of Xcel Energy worth $41,704,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of XEL. State Street Corp lifted its holdings in Xcel Energy by 6.7% in the third quarter. State Street Corp now owns 37,143,025 shares of the company’s stock valued at $2,445,477,000 after acquiring an additional 2,323,448 shares during the period. Brookfield Corp ON lifted its holdings in Xcel Energy by 520.1% in the third quarter. Brookfield Corp ON now owns 2,509,031 shares of the company’s stock valued at $163,840,000 after acquiring an additional 2,104,405 shares during the period. Merewether Investment Management LP bought a new position in Xcel Energy in the third quarter valued at about $64,301,000. Massachusetts Financial Services Co. MA lifted its holdings in Xcel Energy by 6.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 15,190,756 shares of the company’s stock valued at $991,956,000 after acquiring an additional 892,740 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in Xcel Energy by 1,265.6% in the third quarter. Janus Henderson Group PLC now owns 839,146 shares of the company’s stock valued at $54,797,000 after acquiring an additional 777,696 shares during the period. 78.38% of the stock is owned by hedge funds and other institutional investors.

Xcel Energy Stock Performance

NASDAQ:XEL opened at $72.10 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 1.42. Xcel Energy Inc. has a 12-month low of $46.79 and a 12-month high of $73.38. The stock has a 50-day moving average price of $67.45 and a 200 day moving average price of $66.07. The stock has a market capitalization of $41.40 billion, a P/E ratio of 20.96, a P/E/G ratio of 2.62 and a beta of 0.43.

Xcel Energy (NASDAQ:XEL) last released its earnings results on Thursday, February 6th. The company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). Xcel Energy had a return on equity of 10.65% and a net margin of 14.40%. Equities research analysts forecast that Xcel Energy Inc. will post 3.82 EPS for the current fiscal year.

Xcel Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 20th. Investors of record on Friday, March 14th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.28 annualized dividend and a dividend yield of 3.16%. This is a boost from Xcel Energy’s previous quarterly dividend of $0.55. Xcel Energy’s dividend payout ratio (DPR) is currently 63.66%.

Analysts Set New Price Targets

A number of research analysts have weighed in on XEL shares. Jefferies Financial Group raised Xcel Energy from a “hold” rating to a “buy” rating and increased their target price for the company from $71.00 to $76.00 in a report on Friday, November 1st. JPMorgan Chase & Co. raised Xcel Energy from a “neutral” rating to an “overweight” rating and increased their target price for the company from $69.00 to $80.00 in a report on Thursday, December 12th. KeyCorp raised their price objective on Xcel Energy from $74.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Wells Fargo & Company raised their price objective on Xcel Energy from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Finally, Barclays decreased their price objective on Xcel Energy from $71.00 to $69.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Xcel Energy currently has an average rating of “Moderate Buy” and a consensus price target of $69.91.

Xcel Energy 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.