Cigna Investments Inc. New Has $900,000 Position in Xcel Energy Inc. (NYSE:XEL)
Cigna Investments Inc. New lowered its position in shares of Xcel Energy Inc. (NYSE:XEL) by 7.5% during the second quarter, Holdings Channel reports. The institutional investor owned 19,452 shares of the utilities provider’s stock after selling 1,580 shares during the period. Cigna Investments Inc. New’s holdings in Xcel Energy were worth $900,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the stock. Carroll Financial Associates Inc. increased its position in shares of Xcel Energy by 14.5% in the second quarter. Carroll Financial Associates Inc. now owns 2,365 shares of the utilities provider’s stock worth $108,000 after buying an additional 300 shares in the last quarter. Founders Capital Management acquired a new position in shares of Xcel Energy during the first quarter worth $124,000. Reilly Financial Advisors LLC increased its position in shares of Xcel Energy by 5.8% in the first quarter. Reilly Financial Advisors LLC now owns 2,901 shares of the utilities provider’s stock worth $129,000 after buying an additional 160 shares in the last quarter. Sharkey Howes & Javer increased its position in shares of Xcel Energy by 0.5% in the first quarter. Sharkey Howes & Javer now owns 2,994 shares of the utilities provider’s stock worth $133,000 after buying an additional 16 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. increased its position in shares of Xcel Energy by 89.9% in the second quarter. Independent Portfolio Consultants Inc. now owns 3,134 shares of the utilities provider’s stock worth $144,000 after buying an additional 1,484 shares in the last quarter. 72.03% of the stock is owned by institutional investors and hedge funds.
Shares of Xcel Energy Inc. (NYSE XEL) opened at 48.19 on Friday. The stock’s 50 day moving average is $46.87 and its 200-day moving average is $45.12. The stock has a market cap of $24.47 billion, a PE ratio of 21.28 and a beta of 0.19. Xcel Energy Inc. has a 12-month low of $38.00 and a 12-month high of $48.72.
Xcel Energy (NYSE:XEL) last posted its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.43 by $0.02. The firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.63 billion. Xcel Energy had a net margin of 10.08% and a return on equity of 10.42%. Xcel Energy’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.39 EPS. Equities analysts expect that Xcel Energy Inc. will post $2.20 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, July 20th. Shareholders of record on Thursday, June 15th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $1.44 dividend on an annualized basis and a yield of 2.99%. Xcel Energy’s payout ratio is 63.44%.
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A number of brokerages have weighed in on XEL. BidaskClub raised shares of Xcel Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. BMO Capital Markets raised their target price on shares of Xcel Energy from $46.00 to $47.00 and gave the company a “market perform” rating in a research note on Friday, July 28th. Morgan Stanley raised their target price on shares of Xcel Energy from $45.00 to $46.00 and gave the company an “equal weight” rating in a research note on Thursday. Jefferies Group LLC reaffirmed a “hold” rating and set a $48.00 target price on shares of Xcel Energy in a research note on Friday, June 9th. Finally, Zacks Investment Research downgraded shares of Xcel Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, June 28th. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $46.67.
In other Xcel Energy news, EVP Kent T. Larson sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $47.25, for a total transaction of $472,500.00. Following the transaction, the executive vice president now owns 80,221 shares in the company, valued at approximately $3,790,442.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.22% of the company’s stock.
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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