Xcel Energy, a US-based energy company, has announced that its board of directors will pay a quarterly cash dividend of $0.52 per share ($2.08 annualized), which is the same as the previous quarter’s dividend. The shares are expected to go ex-dividend on June 14, 2023, and the dividend will be paid to shareholders of record on July 20, 2023.
At the current share price of $64.30, the dividend yield on the stock is 3.23%. Looking back over the previous five years, the average dividend yield has been 2.79% with the lowest being 2.30% and the highest being 3.61%. The company’s dividend payout ratio is 0.65: this ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. The company’s 3-year dividend growth rate is 0.21%, demonstrating that it has increased its dividend over time.
If you want to buy stock to capture a dividend, sell the stock, and repeat, you can do so with Fintel’s Dividend Capture Calendar. As of May 11, 2023, the average one-year price target for Xcel Energy is 74.92. The forecasts range from a low of 67.67 to a high of $81.90. The average price target represents an increase of 16.52% from its latest reported closing price of 64.30.
Institutions who reported ownership in Xcel Energy increased by 22 in the last quarter, bringing the total number of holdings to 1,820. The put/call ratio is 0.38, indicating a bullish outlook.
Shareholders who own Xcel Energy stock plan to receive a $0.52 per share dividend. A total of 518,006K shares are held by institutions, up 2.17% from the previous quarter. The largest institutional investor is Jpmorgan Chase with a portfolio allocation of 5.67%, representing a decrease of 3.70% from their prior filing.
Xcel Energy provides energy to millions of homes and businesses across eight Western and Midwestern states. The company is a leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices.
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This story originally appeared on Fintel.
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