Canada Pension Plan Investment Board Takes $58.48 Million Position in Xcel Energy Inc. $XEL

Canada Pension Plan Investment Board purchased a new stake in shares of Xcel Energy Inc. (NASDAQ:XEL) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 728,290 shares of the company’s stock, valued at approximately $58,482,000. Canada Pension Plan Investment Board owned 0.12% of Xcel Energy at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new stake in shares of Xcel Energy during the 2nd quarter valued at $280,187,000. Cbre Investment Management Listed Real Assets LLC increased its stake in shares of Xcel Energy by 18.1% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,324,667 shares of the company’s stock worth $171,700,000 after acquiring an additional 356,208 shares during the last quarter. PKO Investment Management Joint Stock Co purchased a new stake in shares of Xcel Energy during the fourth quarter worth $1,477,000. Electron Capital Partners LLC raised its holdings in shares of Xcel Energy by 15.2% during the fourth quarter. Electron Capital Partners LLC now owns 1,936,695 shares of the company’s stock worth $143,044,000 after acquiring an additional 255,884 shares in the last quarter. Finally, Reaves W H & Co. Inc. boosted its position in Xcel Energy by 13.1% during the fourth quarter. Reaves W H & Co. Inc. now owns 3,579,918 shares of the company’s stock valued at $264,413,000 after purchasing an additional 415,759 shares during the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

Xcel Energy Trading Down 0.7%

Xcel Energy stock opened at $77.16 on Friday. Xcel Energy Inc. has a one year low of $71.29 and a one year high of $84.23. The company’s fifty day moving average price is $79.27 and its two-hundred day moving average price is $79.77. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.70 and a quick ratio of 0.62. The company has a market capitalization of $48.20 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 2.02 and a beta of 0.39.

Xcel Energy (NASDAQ:XEL) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.14. The company had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.54 billion. Xcel Energy had a return on equity of 10.65% and a net margin of 15.28%.The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.59 earnings per share. On average, analysts forecast that Xcel Energy Inc. will post 4.12 earnings per share for the current fiscal year.

Xcel Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Tuesday, September 15th will be issued a $0.5925 dividend. This represents a $2.37 annualized dividend and a yield of 3.1%. The ex-dividend date is Tuesday, September 15th. Xcel Energy’s payout ratio is 64.93%.

Analyst Ratings Changes

Several research analysts have weighed in on XEL shares. Evercore reaffirmed an “outperform” rating and issued a $96.00 target price on shares of Xcel Energy in a research report on Monday, May 4th. New Street Research set a $91.00 price target on Xcel Energy in a report on Tuesday, June 23rd. Truist Financial lowered their price target on Xcel Energy from $94.00 to $88.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. Morgan Stanley dropped their price objective on Xcel Energy from $92.00 to $89.00 and set an “equal weight” rating on the stock in a report on Friday, August 21st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Xcel Energy from $91.00 to $102.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $92.41.

Xcel Energy Company Profile

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.