M&T Bank Corp Has $6.99 Million Stake in Xcel Energy Inc. (NASDAQ:XEL)

M&T Bank Corp trimmed its stake in shares of Xcel Energy Inc. (NASDAQ:XEL) by 4.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 112,962 shares of the company’s stock after selling 5,651 shares during the period. M&T Bank Corp’s holdings in Xcel Energy were worth $6,994,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Xcel Energy by 15.6% in the 3rd quarter. Vanguard Group Inc. now owns 64,062,856 shares of the company’s stock valued at $3,665,677,000 after buying an additional 8,644,054 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Xcel Energy by 16.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 18,521,863 shares of the company’s stock valued at $1,059,821,000 after buying an additional 2,559,321 shares during the last quarter. Hsbc Holdings PLC increased its stake in Xcel Energy by 216.1% in the 3rd quarter. Hsbc Holdings PLC now owns 1,627,320 shares of the company’s stock valued at $92,981,000 after buying an additional 1,112,510 shares during the last quarter. Jennison Associates LLC increased its stake in Xcel Energy by 184.9% in the 4th quarter. Jennison Associates LLC now owns 1,451,483 shares of the company’s stock valued at $89,861,000 after buying an additional 942,097 shares during the last quarter. Finally, Federated Hermes Inc. increased its stake in Xcel Energy by 247.8% in the 4th quarter. Federated Hermes Inc. now owns 1,284,305 shares of the company’s stock valued at $79,511,000 after buying an additional 915,046 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Xcel Energy Stock Up 0.9 %

NASDAQ XEL opened at $54.25 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.74 and a debt-to-equity ratio of 1.48. The company has a market cap of $30.14 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 2.38 and a beta of 0.36. The company has a 50 day moving average of $53.24 and a 200-day moving average of $57.89. Xcel Energy Inc. has a 1-year low of $46.79 and a 1-year high of $69.85.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings results on Thursday, April 25th. The company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.08. The business had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Xcel Energy had a return on equity of 11.03% and a net margin of 13.36%. The firm’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.76 earnings per share. On average, equities research analysts expect that Xcel Energy Inc. will post 3.56 earnings per share for the current fiscal year.

Xcel Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, April 20th. Investors of record on Friday, March 15th were paid a $0.548 dividend. This is a boost from Xcel Energy’s previous quarterly dividend of $0.52. This represents a $2.19 annualized dividend and a dividend yield of 4.04%. The ex-dividend date was Thursday, March 14th. Xcel Energy’s payout ratio is 65.77%.

Wall Street Analyst Weigh In

XEL has been the topic of a number of research analyst reports. Wolfe Research raised shares of Xcel Energy from a “peer perform” rating to an “outperform” rating and set a $58.00 target price on the stock in a report on Monday, March 11th. Wells Fargo & Company boosted their target price on Xcel Energy from $63.00 to $64.00 and gave the stock an “equal weight” rating in a report on Friday, January 26th. Evercore ISI raised their price target on Xcel Energy from $54.00 to $59.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Bank of America lifted their price objective on shares of Xcel Energy from $63.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Finally, TheStreet downgraded shares of Xcel Energy from a “b-” rating to a “c+” rating in a report on Thursday, March 14th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $62.83.

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.