CIBC Asset Management Inc Grows Stock Holdings in Xcel Energy Inc. $XEL

CIBC Asset Management Inc lifted its holdings in Xcel Energy Inc. (NASDAQ:XEL) by 26.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 303,970 shares of the company’s stock after acquiring an additional 62,996 shares during the quarter. CIBC Asset Management Inc owned 0.05% of Xcel Energy worth $22,451,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC acquired a new stake in Xcel Energy during the 3rd quarter worth about $27,000. Abound Wealth Management lifted its holdings in shares of Xcel Energy by 394.5% in the 4th quarter. Abound Wealth Management now owns 361 shares of the company’s stock valued at $27,000 after buying an additional 288 shares during the period. Beacon Financial Strategies CORP purchased a new stake in shares of Xcel Energy in the fourth quarter worth about $33,000. Pittenger & Anderson Inc. grew its holdings in Xcel Energy by 73.8% during the fourth quarter. Pittenger & Anderson Inc. now owns 471 shares of the company’s stock worth $35,000 after acquiring an additional 200 shares during the period. Finally, Collier Financial acquired a new stake in Xcel Energy during the third quarter worth about $38,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on XEL shares. JPMorgan Chase & Co. lowered their price objective on Xcel Energy from $94.00 to $91.00 and set an “overweight” rating on the stock in a research report on Thursday, May 14th. Weiss Ratings upgraded shares of Xcel Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 20th. Evercore restated an “outperform” rating and set a $96.00 price target on shares of Xcel Energy in a research report on Monday, May 4th. KeyCorp upped their price objective on shares of Xcel Energy from $89.00 to $90.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 21st. Finally, Argus set a $86.00 target price on shares of Xcel Energy in a research note on Thursday, March 12th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Xcel Energy currently has an average rating of “Buy” and a consensus target price of $90.63.

Xcel Energy Price Performance

Shares of NASDAQ XEL opened at $77.77 on Friday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.68 and a current ratio of 0.77. The firm has a fifty day moving average of $79.78 and a 200 day moving average of $78.51. The firm has a market cap of $48.55 billion, a PE ratio of 22.41, a PEG ratio of 2.01 and a beta of 0.39. Xcel Energy Inc. has a one year low of $65.21 and a one year high of $84.23.

Xcel Energy (NASDAQ:XEL) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.91 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.91. The business had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $4.21 billion. Xcel Energy had a net margin of 14.14% and a return on equity of 10.37%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same period last year, the firm posted $0.84 earnings per share. As a group, research analysts predict that Xcel Energy Inc. will post 4.11 EPS for the current fiscal year.

Xcel Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.5925 per share. This represents a $2.37 annualized dividend and a yield of 3.0%. The ex-dividend date is Monday, June 15th. Xcel Energy’s payout ratio is 68.30%.

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.