Allspring Global Investments Holdings LLC Sells 8,404 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Allspring Global Investments Holdings LLC reduced its holdings in Xcel Energy Inc. (NASDAQ:XEL) by 5.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 153,453 shares of the company’s stock after selling 8,404 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Xcel Energy were worth $10,260,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Ashton Thomas Securities LLC bought a new position in shares of Xcel Energy during the 3rd quarter valued at about $25,000. Transcendent Capital Group LLC bought a new position in shares of Xcel Energy during the 3rd quarter valued at about $33,000. Crews Bank & Trust bought a new position in shares of Xcel Energy during the 4th quarter valued at about $34,000. MCF Advisors LLC increased its position in shares of Xcel Energy by 566.3% during the 4th quarter. MCF Advisors LLC now owns 593 shares of the company’s stock valued at $40,000 after purchasing an additional 504 shares during the last quarter. Finally, First Financial Corp IN bought a new position in shares of Xcel Energy during the 4th quarter valued at about $46,000. 78.38% of the stock is currently owned by institutional investors.

Xcel Energy Stock Performance

XEL stock opened at $68.54 on Wednesday. The stock’s 50 day simple moving average is $67.04 and its 200 day simple moving average is $65.43. 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 12-month low of $46.79 and a 12-month high of $73.38. The stock has a market capitalization of $39.36 billion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 2.54 and a beta of 0.43.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings data 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 company also recently announced a quarterly dividend, which was paid on Wednesday, January 29th. Investors of record on Monday, January 6th were issued a $0.5475 dividend. This represents a $2.19 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend was Monday, January 6th. Xcel Energy’s dividend payout ratio is currently 63.66%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on XEL shares. JPMorgan Chase & Co. upgraded shares of Xcel Energy from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $69.00 to $80.00 in a report on Thursday, December 12th. Morgan Stanley dropped their price objective 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. KeyCorp upped their target price on Xcel Energy from $74.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Jefferies Financial Group raised Xcel Energy from a “hold” rating to a “buy” rating and raised their price target for the stock from $71.00 to $76.00 in a research note on Friday, November 1st. Finally, Wells Fargo & Company upped their price objective on shares of Xcel Energy from $72.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Xcel Energy currently has an average 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.