Northwestern Mutual Investment Management Company LLC grew its position in shares of Xcel Energy Inc (NYSE:XEL) by 34.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,344 shares of the utilities provider’s stock after purchasing an additional 6,974 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Xcel Energy were worth $1,649,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Advisor Partners LLC lifted its stake in Xcel Energy by 4.6% during the fourth quarter. Advisor Partners LLC now owns 15,150 shares of the utilities provider’s stock worth $977,000 after purchasing an additional 669 shares during the last quarter. Magellan Asset Management Ltd lifted its stake in Xcel Energy by 35.4% during the fourth quarter. Magellan Asset Management Ltd now owns 31,040,812 shares of the utilities provider’s stock worth $1,970,781,000 after purchasing an additional 8,116,737 shares during the last quarter. Exane Derivatives lifted its stake in Xcel Energy by 30.1% during the fourth quarter. Exane Derivatives now owns 2,476 shares of the utilities provider’s stock worth $160,000 after purchasing an additional 573 shares during the last quarter. Hexavest Inc. bought a new stake in Xcel Energy during the first quarter worth about $16,220,000. Finally, Carmichael Hill & Associates Inc. bought a new stake in Xcel Energy during the fourth quarter worth about $65,000. 73.96% of the stock is owned by hedge funds and other institutional investors.
XEL opened at $60.37 on Friday. The business has a 50 day simple moving average of $62.29 and a two-hundred day simple moving average of $63.50. Xcel Energy Inc has a one year low of $46.58 and a one year high of $72.14.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.43 per share. The ex-dividend date is Friday, June 12th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.85%.
A number of equities research analysts have recently weighed in on XEL shares. Mizuho boosted their target price on Xcel Energy from $53.00 to $63.00 and gave the company a “neutral” rating in a research note on Wednesday, April 15th. Morgan Stanley lowered Xcel Energy from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $61.00 to $55.00 in a research note on Wednesday, May 13th. Bank of America raised Xcel Energy from an “underperform” rating to a “neutral” rating and set a $70.00 target price for the company in a research note on Friday, January 31st. Royal Bank of Canada reissued a “hold” rating and issued a $62.00 target price on shares of Xcel Energy in a research note on Wednesday, April 8th. Finally, Barclays lowered their target price on Xcel Energy from $70.00 to $54.00 and set an “equal weight” rating for the company in a research note on Thursday, March 26th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $63.53.
Xcel Energy Company Profile
Xcel Energy Inc is a public utility holding company. The Company’s operations include the activity of four utility subsidiaries that serve electric and natural gas customers in eight states. The Company’s segments include regulated electric utility, regulated natural gas utility and all other. The Company’s utility subsidiaries include NSP-Minnesota, NSP-Wisconsin, Public Service Company of Colorado (PSCo) and Southwestern Public Service Co (SPS), which serve customers in portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin.
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