Dearborn Partners LLC purchased a new position in shares of Xcel Energy Inc. (NASDAQ:XEL – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 10,965 shares of the company’s stock, valued at approximately $871,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of XEL. Evolution Wealth Management Inc. raised its stake in shares of Xcel Energy by 365.3% during the first quarter. Evolution Wealth Management Inc. now owns 349 shares of the company’s stock worth $28,000 after acquiring an additional 274 shares in the last quarter. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Xcel Energy in the 4th quarter valued at $30,000. Pittenger & Anderson Inc. grew its holdings in shares of Xcel Energy by 73.8% during the 4th quarter. Pittenger & Anderson Inc. now owns 471 shares of the company’s stock valued at $35,000 after purchasing an additional 200 shares during the last quarter. First Bancorp Inc ME bought a new position in shares of Xcel Energy during the 2nd quarter valued at $36,000. Finally, Advocate Investing Services LLC purchased a new position in Xcel Energy in the 4th quarter worth $38,000. 78.38% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
XEL has been the topic of several analyst reports. New Street Research set a $91.00 price objective on Xcel Energy in a report on Tuesday, June 23rd. BMO Capital Markets dropped their target price on Xcel Energy from $95.00 to $92.00 and set an “outperform” rating for the company in a report on Wednesday, July 22nd. KeyCorp restated an “overweight” rating on shares of Xcel Energy in a research report on Monday, June 8th. Wall Street Zen cut Xcel Energy from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Truist Financial lowered their price objective on Xcel Energy from $94.00 to $88.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $92.41.
Xcel Energy Stock Performance
Xcel Energy stock opened at $76.45 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.62 and a debt-to-equity ratio of 1.49. The firm has a 50-day moving average of $79.25 and a 200-day moving average of $79.75. The firm has a market cap of $47.75 billion, a P/E ratio of 20.95, a P/E/G ratio of 2.00 and a beta of 0.39. Xcel Energy Inc. has a 1-year low of $71.29 and a 1-year high of $84.23.
Xcel Energy (NASDAQ:XEL – Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.14. The business had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.54 billion. Xcel Energy had a net margin of 15.28% and a return on equity of 10.65%. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.59 earnings per share. Sell-side analysts expect that Xcel Energy Inc. will post 4.12 EPS for the current year.
Xcel Energy Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Tuesday, September 15th will be issued a $0.5925 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $2.37 dividend on an annualized basis and a yield of 3.1%. Xcel Energy’s dividend payout ratio is 64.93%.
About Xcel Energy
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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