ProShare Advisors LLC, one of the premiere investment management companies in the United States, recently announced that it has reduced its position in Xcel Energy Inc., a leading provider of electric and natural gas services to customers across eight Western and Midwestern states. According to the latest 13F filing with the SEC, ProShare Advisors LLC lowered its stake in Xcel Energy by 10.2% during the fourth quarter, selling 55,346 shares of the company’s stock amid challenging market conditions.
ProShare Advisors LLC now owns 486,938 shares in Xcel Energy worth $34,139,000 following this development. This is a significant shift for ProShare Advisors LLC and could have major implications for investors and stakeholders alike in both short- and long-term contexts.
Against this backdrop of pessimism lies some rays of hope as well. On March 20th , Xcel Energy announced an increased quarterly dividend payout for its investors – always a positive sign from any corporation focused on growth and sustainability. The new dividend payout rate stands at $0.52 per share; up from $0.49 previously.
Xcel Energy’s rising dividends are part and parcel of wider confidence within the energy sector that is building on recent improvements in demand dynamics across different markets – especially as vaccination efforts accelerate across America.
On Tuesday March 14th ex-dividend date will occur while investors that record on Wednesday March 15th will receive their newest earnings from better-than expected performance.
The announcement coupled with other favorable market indicators signal an overall bullish outlook and creates optimism among key players involved in financial transactions associated with Xcel Energy including President Christopher Blevins who seems confident about forthcoming developments.“We’re feeling very good about our continued success under these conditions,” said Christopher Blevins “and we remain optimistic about future growth potential.”
Meanwhile, SVP Frank P Prager continued that momentum by offloading some of his own shares following keenly watched legal filings with the SEC. Prager sold 737 shares of Xcel Energy’s stock at an average price of $65.00 on Thursday, March 9th, for a total value of $47,905. Following the transaction, he remains senior vice president of the company and owns a total of 29,340 shares in it.
As we continue to navigate these interesting times in the energy market – where uncertainty has become commonplace – investors and other key players ought to remain alert to any potential opportunities that may arise amid ongoing shifts and changes that are disrupting traditional patterns in this sector.
Xcel Energy’s Quarterly Dividend Announced as Stocks Rise Amid Investor Interest
Xcel Energy Reports a Quarterly Dividend, Stocks Continue to Rise
Xcel Energy, one of the biggest energy providers in the US, recently recorded a high degree of stock activity as large investors bought and sold shares. Hedge funds and other institutional investors now own 77.15% of Xcel Energy’s stock. For instance, Acadian Asset Management LLC purchased a new position in the first quarter valued at around $302,000; Prudential PLC also got on board with a new investment worth nearly $1.4 million.
Despite some analyst concerns resulting from the findings of these reports, other insider investments have suggested that this could be a good time to invest in Xcel. Brokerages such as Morgan Stanley and Wells Fargo lowered their price objective on shares of Xcel Energy; however five research analysts have rated the stock as hold while six assigned it as moderate buy with an average consensus price target of $70.30.
The company also revealed recently that it will pay out dividend amounting to $0.52 per share for the first quarter this year, up from its previous quarterly dividend offering of $0.49. Investors have observed that this is an encouraging sign for them and allows them to stay dedicated on investing even more based on their yearly estimate yield percentage of 2.95 percent.
Looking ahead in terms of profit margins, Xcel Energy’s earnings for Q1 2017 showed significant growth compared to earnings from the same period last year, equating to fundamental gains relevant to current market conditions due partly to revenue increase brought about by amplified customer rates during certain times last year.
Overall, analysts note that these changes should continue to keep investors interested in the coming months despite some expected periods volatility due to market activities outside player control.