Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of Xcel Energy Inc. (NASDAQ:XEL – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,422 shares of the company’s stock, valued at approximately $1,238,000.
Several other hedge funds have also made changes to their positions in the company. Evolution Wealth Management Inc. grew its position in Xcel Energy by 365.3% during the 1st quarter. Evolution Wealth Management Inc. now owns 349 shares of the company’s stock worth $28,000 after purchasing an additional 274 shares in the last quarter. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Xcel Energy in the fourth quarter valued at $30,000. Pittenger & Anderson Inc. lifted its holdings in shares of Xcel Energy by 73.8% in the fourth quarter. Pittenger & Anderson Inc. now owns 471 shares of the company’s stock valued at $35,000 after purchasing an additional 200 shares in the last quarter. Advocate Investing Services LLC acquired a new stake in shares of Xcel Energy in the fourth quarter worth $38,000. Finally, Cedar Mountain Advisors LLC acquired a new stake in shares of Xcel Energy in the first quarter worth $39,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have weighed in on XEL. Truist Financial lowered their target price on Xcel Energy from $94.00 to $88.00 and set a “buy” rating on the stock in a research note on Thursday, August 13th. JPMorgan Chase & Co. increased their price objective on Xcel Energy from $91.00 to $102.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Wall Street Zen cut Xcel Energy from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. BMO Capital Markets lowered their target price on Xcel Energy from $95.00 to $92.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 22nd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Xcel Energy in a research report on Wednesday, June 17th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $92.41.
Xcel Energy Stock Up 1.3%
Shares of Xcel Energy stock opened at $77.33 on Tuesday. The company has a quick ratio of 0.62, a current ratio of 0.70 and a debt-to-equity ratio of 1.49. The stock has a 50 day moving average price of $79.31 and a two-hundred day moving average price of $79.74. The stock has a market capitalization of $48.30 billion, a P/E ratio of 21.19, a PEG ratio of 1.98 and a beta of 0.39. Xcel Energy Inc. has a 12-month low of $71.29 and a 12-month high of $84.23.
Xcel Energy (NASDAQ:XEL – Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.79 by $0.14. The firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.54 billion. Xcel Energy had a net margin of 15.28% and a return on equity of 10.65%. The business’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.59 EPS. Equities analysts expect that Xcel Energy Inc. will post 4.12 earnings per share for the current year.
Xcel Energy Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Tuesday, September 15th will be paid a $0.5925 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $2.37 annualized dividend and a dividend yield of 3.1%. Xcel Energy’s dividend payout ratio (DPR) is presently 64.93%.
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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