M&T Bank Corp Sells 14,718 Shares of Xcel Energy Inc. (NASDAQ:XEL)

M&T Bank Corp lessened its stake in shares of Xcel Energy Inc. (NASDAQ:XEL) by 11.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 111,342 shares of the company’s stock after selling 14,718 shares during the period. M&T Bank Corp’s holdings in Xcel Energy were worth $7,271,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC bought a new stake in shares of Xcel Energy during the 3rd quarter worth approximately $25,000. Transcendent Capital Group LLC bought a new stake in Xcel Energy during the third quarter worth $33,000. Kimelman & Baird LLC acquired a new stake in shares of Xcel Energy in the 2nd quarter valued at $35,000. Rothschild Investment LLC bought a new position in shares of Xcel Energy in the 2nd quarter valued at $37,000. Finally, Andra AP fonden acquired a new position in shares of Xcel Energy during the 2nd quarter worth $43,000. 78.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. KeyCorp raised their price objective on Xcel Energy from $74.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Wells Fargo & Company raised their price target on shares of Xcel Energy from $63.00 to $66.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. 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 report on Monday, August 26th. Barclays raised their target price on shares of Xcel Energy from $67.00 to $71.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. upgraded shares of Xcel Energy from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $69.00 to $80.00 in a report on Thursday, December 12th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Xcel Energy currently has an average rating of “Moderate Buy” and an average price target of $69.17.

Xcel Energy Stock Up 1.1 %

Shares of XEL opened at $67.40 on Monday. The company has a market capitalization of $38.70 billion, a PE ratio of 20.00, a PEG ratio of 2.79 and a beta of 0.41. The stock’s 50-day moving average price is $67.73 and its two-hundred day moving average price is $61.83. 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.

Xcel Energy (NASDAQ:XEL) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.01). The company had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.93 billion. Xcel Energy had a return on equity of 10.76% and a net margin of 13.67%. Xcel Energy’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.23 earnings per share. On average, analysts anticipate that Xcel Energy Inc. will post 3.54 EPS for the current year.

Xcel Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Monday, January 6th will be given a dividend of $0.5475 per share. This represents a $2.19 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Monday, January 6th. Xcel Energy’s dividend payout ratio (DPR) is presently 64.99%.

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.