California State Teachers Retirement System Has $4.68 Billion Stake in Xcel Energy Inc. $XEL

California State Teachers Retirement System raised its stake in Xcel Energy Inc. (NASDAQ:XEL) by 8,419.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,315,466 shares of the company’s stock after acquiring an additional 57,630,988 shares during the quarter. California State Teachers Retirement System owned approximately 0.09% of Xcel Energy worth $4,682,732,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in XEL. BlackRock Inc. acquired a new position in Xcel Energy during the 2nd quarter worth approximately $4,890,136,000. GQG Partners LLC bought a new position in Xcel Energy in the 2nd quarter valued at approximately $891,688,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Xcel Energy in the second quarter valued at approximately $708,086,000. Legal & General Group Plc bought a new stake in shares of Xcel Energy during the second quarter worth $503,543,000. Finally, Deutsche Bank AG bought a new stake in shares of Xcel Energy during the second quarter worth $433,927,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Xcel Energy Stock Performance

NASDAQ XEL opened at $76.19 on Thursday. The company has a market capitalization of $47.59 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 2.60 and a beta of 0.39. The company has a quick ratio of 0.62, a current ratio of 0.70 and a debt-to-equity ratio of 1.49. Xcel Energy Inc. has a twelve month low of $71.35 and a twelve month high of $84.23. The stock has a fifty day simple moving average of $78.48 and a 200 day simple moving average of $79.55.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.14. Xcel Energy had a return on equity of 10.65% and a net margin of 15.28%.The company had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter in the prior year, the firm posted $1.59 earnings per share. The business’s quarterly revenue was down 5.1% on a year-over-year basis. Sell-side analysts expect that Xcel Energy Inc. will post 4.11 EPS for the current year.

Xcel Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.5925 per share. The ex-dividend date is Tuesday, September 15th. This represents a $2.37 annualized dividend and a yield of 3.1%. Xcel Energy’s dividend payout ratio (DPR) is presently 64.93%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Jefferies Financial Group set a $101.00 price target on shares of Xcel Energy in a report on Tuesday, July 7th. BTIG Research restated a “buy” rating and set a $99.00 price objective on shares of Xcel Energy in a research report on Friday, July 31st. Morgan Stanley lowered their target price on Xcel Energy from $92.00 to $89.00 and set an “equal weight” rating for the company in a report on Friday, August 21st. New Street Research set a $91.00 target price on Xcel Energy in a research report on Tuesday, June 23rd. Finally, BMO Capital Markets cut their price target on Xcel Energy from $95.00 to $92.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Xcel Energy currently has an average rating of “Buy” and an average price target of $92.41.

Xcel Energy Profile

Xcel Energy Inc is a Minneapolis-based electric and natural gas utility holding company that serves customers across parts of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin. Through its operating companies, Xcel provides electricity generation, transmission and distribution, as well as natural gas distribution and related energy services.

The company operates a diversified generating fleet that includes wind, solar, hydroelectric, nuclear, natural gas and other resources.