Elevation Point Wealth Partners LLC increased its stake in shares of Xcel Energy Inc. (NASDAQ:XEL – Free Report) by 54.4% during the 1st quarter, Holdings Channel reports. The institutional investor owned 50,966 shares of the company’s stock after buying an additional 17,961 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Xcel Energy were worth $4,072,000 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. Brighton Jones LLC acquired a new position in Xcel Energy in the fourth quarter valued at about $240,000. Empowered Funds LLC increased its stake in shares of Xcel Energy by 30.7% in the 1st quarter. Empowered Funds LLC now owns 13,810 shares of the company’s stock valued at $978,000 after acquiring an additional 3,242 shares during the last quarter. Woodline Partners LP increased its stake in shares of Xcel Energy by 40.7% in the 1st quarter. Woodline Partners LP now owns 48,515 shares of the company’s stock valued at $3,434,000 after acquiring an additional 14,029 shares during the last quarter. Brown Advisory Inc. raised its position in shares of Xcel Energy by 4.8% in the 2nd quarter. Brown Advisory Inc. now owns 10,193 shares of the company’s stock valued at $694,000 after acquiring an additional 469 shares during the period. Finally, Cary Street Partners Financial LLC boosted its stake in Xcel Energy by 16.0% during the 2nd quarter. Cary Street Partners Financial LLC now owns 2,620 shares of the company’s stock worth $178,000 after acquiring an additional 362 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Xcel Energy from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Evercore reaffirmed an “outperform” rating and set a $96.00 price objective on shares of Xcel Energy in a research note on Monday, May 4th. Barclays reduced their target price on Xcel Energy from $91.00 to $87.00 and set an “overweight” rating on the stock in a report on Tuesday, May 12th. UBS Group boosted their target price on Xcel Energy from $89.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Finally, JPMorgan Chase & Co. lowered their price target on Xcel Energy from $94.00 to $91.00 and set an “overweight” rating for the company in a report on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $91.29.
Xcel Energy Stock Performance
Xcel Energy stock opened at $81.96 on Friday. The company has a market cap of $51.17 billion, a price-to-earnings ratio of 23.62, a P/E/G ratio of 2.13 and a beta of 0.39. The firm has a 50-day moving average of $79.61 and a 200-day moving average of $78.63. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.77 and a quick ratio of 0.68. Xcel Energy Inc. has a one year low of $66.56 and a one year high of $84.23.
Xcel Energy (NASDAQ:XEL – Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported $0.91 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.91. The business had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $4.21 billion. Xcel Energy had a net margin of 14.14% and a return on equity of 10.37%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.84 earnings per share. On average, equities analysts expect that Xcel Energy Inc. will post 4.11 earnings per share for the current fiscal year.
Xcel Energy Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Monday, June 15th will be paid a $0.5925 dividend. The ex-dividend date is Monday, June 15th. This represents a $2.37 annualized dividend and a yield of 2.9%. Xcel Energy’s payout ratio is 68.30%.
Xcel Energy Company Profile
Xcel Energy (NASDAQ: XEL) is a Minneapolis-based, publicly traded utility holding company that develops, owns and operates regulated electricity and natural gas delivery systems. The company’s core activities include generation, transmission and distribution of electricity, the delivery of natural gas to customers, and related customer service operations. Xcel provides a mix of utility services to residential, commercial and industrial customers and participates in wholesale energy markets where appropriate.
Its generation portfolio combines nuclear, natural gas, coal and a growing share of renewable resources such as wind and solar.
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