Scout Investments Inc. reduced its holdings in shares of Xcel Energy Inc (NYSE:XEL) by 89.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 199,398 shares of the utilities provider’s stock after selling 1,768,445 shares during the period. Scout Investments Inc.’s holdings in Xcel Energy were worth $12,939,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of XEL. First Trust Advisors LP grew its position in Xcel Energy by 2.1% during the first quarter. First Trust Advisors LP now owns 1,141,363 shares of the utilities provider’s stock valued at $64,156,000 after acquiring an additional 23,738 shares during the last quarter. Alphasimplex Group LLC purchased a new stake in shares of Xcel Energy during the first quarter valued at approximately $396,000. Wealthfront Advisers LLC boosted its stake in shares of Xcel Energy by 9.0% during the first quarter. Wealthfront Advisers LLC now owns 45,883 shares of the utilities provider’s stock valued at $2,579,000 after purchasing an additional 3,777 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Xcel Energy by 1.0% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 73,513 shares of the utilities provider’s stock valued at $4,132,000 after purchasing an additional 750 shares during the period. Finally, Williams Jones & Associates LLC boosted its stake in shares of Xcel Energy by 5.6% during the first quarter. Williams Jones & Associates LLC now owns 4,331 shares of the utilities provider’s stock valued at $243,000 after purchasing an additional 231 shares during the period. Institutional investors and hedge funds own 73.96% of the company’s stock.
In other news, insider Christopher B. Clark sold 2,500 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $62.38, for a total transaction of $155,950.00. Following the completion of the transaction, the insider now directly owns 16,560 shares in the company, valued at $1,033,012.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Scott M. Wilensky sold 15,000 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $61.71, for a total value of $925,650.00. The disclosure for this sale can be found here. Insiders have sold 49,382 shares of company stock valued at $3,133,045 in the last three months. Insiders own 0.22% of the company’s stock.
Xcel Energy (NYSE:XEL) last announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). The company had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.84 billion. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period last year, the firm earned $0.52 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 20th. Shareholders of record on Friday, September 13th will be given a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 2.54%. The ex-dividend date is Thursday, September 12th.
A number of research firms have recently weighed in on XEL. Bank of America lowered Xcel Energy from a “neutral” rating to an “underperform” rating and set a $62.00 price objective for the company. in a research note on Monday, September 30th. Morgan Stanley increased their price objective on Xcel Energy from $60.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, September 6th. SunTrust Banks set a $63.00 price objective on Xcel Energy and gave the company a “hold” rating in a research note on Tuesday, September 3rd. UBS Group increased their price objective on Xcel Energy from $63.00 to $66.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Finally, Zacks Investment Research raised Xcel Energy from a “sell” rating to a “hold” rating and set a $66.00 price objective for the company in a research note on Monday, August 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $61.40.
About Xcel Energy
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.
Featured Story: Using other technical indicators with support levels
Want to see what other hedge funds are holding XEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Xcel Energy Inc (NYSE:XEL).
Receive News & Ratings for Xcel Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Xcel Energy and related companies with MarketBeat.com's FREE daily email newsletter.