Thrivent Financial for Lutherans Sells 278,558 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Thrivent Financial for Lutherans trimmed its holdings in Xcel Energy Inc. (NASDAQ:XEL) by 42.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 376,385 shares of the company’s stock after selling 278,558 shares during the period. Thrivent Financial for Lutherans owned 0.07% of Xcel Energy worth $25,430,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of XEL. State Street Corp boosted its holdings in Xcel Energy by 6.7% in the third quarter. State Street Corp now owns 37,143,025 shares of the company’s stock worth $2,445,477,000 after purchasing an additional 2,323,448 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Xcel Energy by 6.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 15,190,756 shares of the company’s stock worth $991,956,000 after acquiring an additional 892,740 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Xcel Energy by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 14,562,103 shares of the company’s stock worth $952,091,000 after acquiring an additional 262,191 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Xcel Energy by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 3,777,002 shares of the company’s stock valued at $255,023,000 after acquiring an additional 11,529 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Xcel Energy by 6.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,625,848 shares of the company’s stock valued at $244,817,000 after acquiring an additional 208,233 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Xcel Energy Price Performance

Shares of NASDAQ:XEL opened at $70.09 on Friday. The firm has a market capitalization of $40.27 billion, a PE ratio of 20.38, a PEG ratio of 2.62 and a beta of 0.37. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 1.42. Xcel Energy Inc. has a 1-year low of $51.58 and a 1-year high of $73.38. The business’s 50 day moving average is $68.09 and its 200-day moving average is $66.96.

Xcel Energy (NASDAQ:XEL) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). Xcel Energy had a return on equity of 10.65% and a net margin of 14.40%. Sell-side analysts predict that Xcel Energy Inc. will post 3.82 earnings per share for the current year.

Xcel Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 20th. Investors of record on Friday, March 14th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Xcel Energy’s previous quarterly dividend of $0.55. Xcel Energy’s dividend payout ratio is 66.28%.

Insiders Place Their Bets

In related news, Director Devin W. Stockfish bought 2,170 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average price of $68.93 per share, for a total transaction of $149,578.10. Following the transaction, the director now directly owns 3,007 shares of the company’s stock, valued at $207,272.51. This represents a 259.26 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on XEL shares. JPMorgan Chase & Co. upgraded Xcel Energy from a “neutral” rating to an “overweight” rating and increased their price target for the company from $69.00 to $80.00 in a report on Thursday, December 12th. Barclays lowered their target price on shares of Xcel Energy from $71.00 to $69.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. Morgan Stanley boosted their target price on shares of Xcel Energy from $75.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday. KeyCorp raised their price target on Xcel Energy from $74.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company boosted their price objective on Xcel Energy from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $71.70.

Xcel Energy Company Profile

Xcel Energy Inc, through its subsidiaries, engages in the generation, purchasing, transmission, distribution, and sale of electricity. It operates through Regulated Electric Utility, Regulated Natural Gas Utility, and All Other segments. The company generates electricity through wind, nuclear, hydroelectric, biomass, and solar energy sources, as well as coal, natural gas, oil, wood, and refuse-derived fuels.