Allspring Global Investments Holdings LLC Reduces Stock Holdings in Xcel Energy Inc. (NASDAQ:XEL)

Allspring Global Investments Holdings LLC cut its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 5.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 153,453 shares of the company's stock after selling 8,404 shares during the period. Allspring Global Investments Holdings LLC's holdings in Xcel Energy were worth $10,260,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in shares of Xcel Energy during the third quarter worth approximately $25,000. Transcendent Capital Group LLC purchased a new stake in shares of Xcel Energy during the third quarter worth approximately $33,000. Crews Bank & Trust purchased a new stake in shares of Xcel Energy during the fourth quarter worth approximately $34,000. MCF Advisors LLC increased its stake in shares of Xcel Energy by 566.3% during the fourth quarter. MCF Advisors LLC now owns 593 shares of the company's stock worth $40,000 after buying an additional 504 shares during the period. Finally, First Financial Corp IN acquired a new position in Xcel Energy in the fourth quarter valued at approximately $46,000. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Xcel Energy Stock Performance

Shares of XEL stock traded up $0.62 during trading hours on Friday, hitting $69.94. The stock had a trading volume of 2,379,048 shares, compared to its average volume of 3,399,145. The firm has a market capitalization of $40.16 billion, a PE ratio of 20.33, a PEG ratio of 2.61 and a beta of 0.43. Xcel Energy Inc. has a twelve month low of $46.79 and a twelve month high of $73.38. The stock's 50 day moving average is $67.06 and its 200 day moving average is $65.54. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.93 and a quick ratio of 0.82.

Xcel Energy (NASDAQ:XEL - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). Xcel Energy had a return on equity of 10.65% and a net margin of 14.40%. As a group, research analysts forecast that Xcel Energy Inc. will post 3.82 earnings per share for the current fiscal year.

Xcel Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Investors of record on Monday, January 6th were issued a dividend of $0.5475 per share. This represents a $2.19 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend was Monday, January 6th. Xcel Energy's dividend payout ratio is presently 63.66%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on XEL. Wells Fargo & Company upped their price target on Xcel Energy from $72.00 to $75.00 and gave the company an "overweight" rating in a report on Friday, February 7th. Jefferies Financial Group raised Xcel Energy from a "hold" rating to a "buy" rating and upped their price target for the company from $71.00 to $76.00 in a report on Friday, November 1st. KeyCorp upped their price target on Xcel Energy from $74.00 to $79.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. Morgan Stanley lowered their price target on Xcel Energy from $74.00 to $72.00 and set an "equal weight" rating for the company in a report on Friday, November 22nd. Finally, Barclays lowered their price target on Xcel Energy from $71.00 to $69.00 and set an "overweight" rating for the company in a report on Wednesday, January 22nd. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $69.91.

Xcel Energy 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.