Mackenzie Financial Corp Has $11.62 Million Stock Holdings in Xcel Energy Inc. (NASDAQ:XEL)

Mackenzie Financial Corp decreased its holdings in Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 52.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 217,519 shares of the company's stock after selling 242,783 shares during the quarter. Mackenzie Financial Corp's holdings in Xcel Energy were worth $11,618,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Quarry LP acquired a new stake in shares of Xcel Energy during the fourth quarter valued at approximately $34,000. TruNorth Capital Management LLC acquired a new stake in shares of Xcel Energy in the second quarter worth $30,000. American National Bank purchased a new position in shares of Xcel Energy during the second quarter valued at $32,000. Rothschild Investment LLC acquired a new position in Xcel Energy during the second quarter valued at $37,000. Finally, YHB Investment Advisors Inc. purchased a new stake in Xcel Energy in the 1st quarter worth about $38,000. Institutional investors own 78.38% of the company's stock.

Wall Street Analysts Forecast Growth

XEL has been the topic of several research analyst reports. KeyCorp lifted their target price on Xcel Energy from $66.00 to $69.00 and gave the company an "overweight" rating in a research note on Monday. Argus raised shares of Xcel Energy from a "hold" rating to a "buy" rating and set a $68.00 target price for the company in a research report on Monday, August 26th. UBS Group raised their price target on shares of Xcel Energy from $66.00 to $67.00 and gave the company a "neutral" rating in a report on Friday, September 20th. Wells Fargo & Company boosted their price objective on shares of Xcel Energy from $57.00 to $63.00 and gave the stock an "equal weight" rating in a report on Friday, August 2nd. Finally, Morgan Stanley raised their target price on Xcel Energy from $68.00 to $73.00 and gave the stock an "equal weight" rating in a research report on Wednesday, September 25th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Xcel Energy has an average rating of "Hold" and an average price target of $64.36.

Xcel Energy Stock Performance

Shares of NASDAQ:XEL traded up $0.74 on Monday, hitting $65.31. The company had a trading volume of 1,579,410 shares, compared to its average volume of 4,238,000. The stock has a 50 day moving average price of $60.82 and a 200 day moving average price of $56.40. The company has a current ratio of 0.97, a quick ratio of 0.86 and a debt-to-equity ratio of 1.54. The stock has a market cap of $36.29 billion, a price-to-earnings ratio of 19.58, a P/E/G ratio of 2.82 and a beta of 0.38. Xcel Energy Inc. has a 1-year low of $46.79 and a 1-year high of $65.31.

Xcel Energy (NASDAQ:XEL - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.54 earnings per share for the quarter, missing analysts' consensus estimates of $0.57 by ($0.03). The business had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.29 billion. Xcel Energy had a net margin of 13.46% and a return on equity of 10.94%. The firm's quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 earnings per share. Analysts expect that Xcel Energy Inc. will post 3.55 EPS for the current year.

Xcel Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 20th. Investors of record on Friday, September 13th will be given a dividend of $0.548 per share. This is a boost from Xcel Energy's previous quarterly dividend of $0.55. The ex-dividend date is Friday, September 13th. This represents a $2.19 annualized dividend and a yield of 3.36%. Xcel Energy's dividend payout ratio is currently 65.77%.

About Xcel Energy

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.