The Vanguard Group, Inc. recently announced the acquisition of new stake in Xcel Energy, Inc. (NASDAQ:XEL). The institutional investor has increased its shareholding in the Utilities company by 16.33% to 61.51 million shares with purchase of 8.64 million shares. This fresh investment now brings its stake to 11.15% valued currently at $3.81 billion. In addition, BlackRock Fund Advisors raised its holdings by 71228.0 to 38.44 million shares. And T. Rowe Price Investment Manageme has lifted its position by 35.99% or 5.7 million shares – to 21.55 million shares.
Currently, there are 551.82M common shares owned by the public and among those 550.96M shares have been available to trade.
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Insiders at the company have transacted a total of 58 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 46 of these insider trades were purchases, accounting for 334,307 shares. Insider sales of the common stock occurred on 12 occasions, with total insider shares sold totaling 114,108 shares.
The top 3 mutual fund holders in Xcel Energy, Inc. are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Vanguard Mid Cap Index Fund. Vanguard Total Stock Market ETF owns 17.35 million shares of the company’s stock, all valued at over $1.07 billion. The company bought an additional 81373.0 shares recently to bring their total holdings to about 3.14% of the shares outstanding. Vanguard 500 Index Fund bought 33623.0 shares to see its total holdings expand to 13.47 million shares valued at over $834.11 million and representing 2.44% of the shares outstanding. Vanguard Mid Cap Index Fund bought 6.1 million shares to bring its total holdings to over 12.37 million shares at a value of $765.81 million. Vanguard Mid Cap Index Fund now owns shares totaling to 2.24% of the shares outstanding.
However, the script later moved the day high at 59.35, up 0.44%. The company’s stock has a 5-day price change of -2.82% and 1.88% over the past three months. XEL shares are trading -4.39% year to date (YTD), with the 12-month market performance down to -13.65% lower. It has a 12-month low price of $53.73 and touched a high of $71.96 over the same period. XEL has an average intraday trading volume of 4.01 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -4.27%, -3.32%, and -4.80% respectively.
Institutional ownership of Xcel Energy, Inc. (NASDAQ: XEL) shares accounts for 79.30% of the company’s 551.82M shares outstanding. Mutual fund holders own 27.71%, while other institutional holders and individual stakeholders account for 51.95% and 0.71% respectively.
It has a market capitalization of $32.66B and a beta (3y monthly) value of 0.41. The stock’s trailing 12-month PE ratio is 18.74, while the earnings-per-share (ttm) stands at $3.16. The company has a PEG of 2.97 and a Quick Ratio of 0.73 with the debt-to-equity ratio at 1.57. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.57% over the week and 1.34% over the month.
Analysts forecast that Xcel Energy, Inc. (XEL) will achieve an EPS of $0.85 for the current quarter, $0.82 for the next quarter and $3.57 for 2024. The lowest estimate earnings-per-share for the quarter is $0.81 while analysts give the company a high EPS estimate of $0.9. Comparatively, EPS for the current quarter was $0.69 a year ago. Earnings per share for the fiscal year are expected to increase by 5.80%, and 6.69% over the next financial year. EPS should shrink at an annualized rate of 6.30% over the next five years, compared to 7.07% over the past 5-year period.
Looking at the support for the XEL, a number of firms have released research notes about the stock. BofA Securities stated their Buy rating for the stock in a research note on October 06, 2023, with the firm’s price target at $58-$66.
