Meeder Asset Management Inc. Invests $6.91 Million in Xcel Energy Inc. $XEL

by · The Markets Daily

Meeder Asset Management Inc. bought a new position in shares of Xcel Energy Inc. (NASDAQ:XEL – Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 85,676 shares of the company’s stock, valued at approximately $6,910,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Bank of America Corp DE grew its holdings in Xcel Energy by 9.0% during the 2nd quarter. Bank of America Corp DE now owns 26,262,079 shares of the company’s stock worth $1,788,448,000 after acquiring an additional 2,157,602 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Xcel Energy by 10.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 18,719,520 shares of the company’s stock worth $1,274,799,000 after purchasing an additional 1,746,066 shares during the last quarter. Invesco Ltd. grew its stake in shares of Xcel Energy by 29.0% during the second quarter. Invesco Ltd. now owns 7,366,422 shares of the company’s stock worth $501,653,000 after purchasing an additional 1,654,505 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in shares of Xcel Energy by 2,324.9% during the second quarter. Balyasny Asset Management L.P. now owns 1,716,351 shares of the company’s stock worth $116,884,000 after purchasing an additional 1,645,571 shares in the last quarter. Finally, Raymond James Financial Inc. increased its holdings in Xcel Energy by 100.3% in the second quarter. Raymond James Financial Inc. now owns 2,519,061 shares of the company’s stock valued at $171,548,000 after buying an additional 1,261,439 shares during the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on XEL. Weiss Ratings raised Xcel Energy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 24th. KeyCorp lowered their price target on Xcel Energy from $85.00 to $84.00 and set an “overweight” rating for the company in a report on Friday, December 12th. Mizuho set a $86.00 price objective on shares of Xcel Energy in a report on Friday. BMO Capital Markets boosted their price objective on shares of Xcel Energy from $84.00 to $87.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 15th. Finally, Morgan Stanley reaffirmed an “underperform” rating and issued a $84.00 target price on shares of Xcel Energy in a research report on Thursday, November 20th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $87.21.

Check Out Our Latest Stock Report on XEL

Xcel Energy Stock Performance

Shares of Xcel Energy stock opened at $74.26 on Monday. The firm’s fifty day simple moving average is $77.23 and its 200-day simple moving average is $75.31. Xcel Energy Inc. has a 12 month low of $62.58 and a 12 month high of $83.01. The stock has a market capitalization of $43.93 billion, a price-to-earnings ratio of 22.64, a PEG ratio of 2.03 and a beta of 0.46. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.79 and a quick ratio of 0.69.

Xcel Energy (NASDAQ:XEL – Get Free Report) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.08). The business had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Xcel Energy had a return on equity of 10.45% and a net margin of 13.46%.The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.25 earnings per share. As a group, equities analysts forecast that Xcel Energy Inc. will post 3.82 earnings per share for the current year.

Xcel Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 20th. Investors of record on Monday, December 29th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.1%. The ex-dividend date is Monday, December 29th. Xcel Energy’s payout ratio is 69.51%.

Xcel Energy Profile

(Free Report)

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.

Further Reading

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