Meiji Yasuda Asset Management Co Ltd. Has $1.13 Million Holdings in Xcel Energy Inc. (NASDAQ:XEL)

Meiji Yasuda Asset Management Co Ltd. reduced its stake in shares of Xcel Energy Inc. (NASDAQ:XEL) by 7.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,063 shares of the company’s stock after selling 1,765 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Xcel Energy were worth $1,125,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Heritage Wealth Advisors acquired a new position in Xcel Energy during the 4th quarter valued at $25,000. Tidemark LLC acquired a new position in Xcel Energy during the 4th quarter valued at $29,000. Quarry LP acquired a new position in shares of Xcel Energy in the 4th quarter valued at $34,000. TruNorth Capital Management LLC acquired a new position in shares of Xcel Energy in the 2nd quarter valued at $30,000. Finally, American National Bank acquired a new position in shares of Xcel Energy in the 2nd quarter valued at $32,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

XEL has been the subject of a number of recent research reports. Morgan Stanley increased their price objective on shares of Xcel Energy from $62.00 to $68.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Argus upgraded shares of Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Monday, August 26th. KeyCorp increased their price objective on shares of Xcel Energy from $65.00 to $66.00 and gave the company an “overweight” rating in a research note on Monday. Jefferies Financial Group initiated coverage on shares of Xcel Energy in a research note on Thursday. They issued a “hold” rating and a $70.00 price objective for the company. Finally, Wells Fargo & Company increased their price objective on shares of Xcel Energy from $57.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.54.

Xcel Energy Stock Down 0.5 %

Shares of NASDAQ:XEL opened at $64.06 on Friday. Xcel Energy Inc. has a 12 month low of $46.79 and a 12 month high of $64.95. The company’s 50-day moving average price is $59.69 and its two-hundred day moving average price is $55.76. The company has a quick ratio of 0.86, a current ratio of 0.97 and a debt-to-equity ratio of 1.54. The firm has a market cap of $35.59 billion, a P/E ratio of 19.24, a P/E/G ratio of 2.81 and a beta of 0.38.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.03). Xcel Energy had a return on equity of 10.94% and a net margin of 13.46%. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.29 billion. During the same period in the prior year, the company earned $0.52 EPS. The firm’s revenue was up .2% compared to the same quarter last year. As a group, research analysts forecast that Xcel Energy Inc. will post 3.55 EPS for the current fiscal year.

Xcel Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 20th. Stockholders of record on Friday, September 13th will be paid a $0.548 dividend. This represents a $2.19 annualized dividend and a dividend yield of 3.42%. The ex-dividend date is Friday, September 13th. This is a positive change from Xcel Energy’s previous quarterly dividend of $0.55. Xcel Energy’s dividend payout ratio (DPR) is 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.