Fulton Bank N.A. Sells 6,764 Shares of Xcel Energy Inc. $XEL

Fulton Bank N.A. lowered its stake in Xcel Energy Inc. (NASDAQ:XEL) by 31.5% during the second quarter, Holdings Channel reports. The firm owned 14,726 shares of the company’s stock after selling 6,764 shares during the period. Fulton Bank N.A.’s holdings in Xcel Energy were worth $1,182,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sapient Capital LLC bought a new stake in Xcel Energy during the second quarter worth about $1,274,000. Oliver Luxxe Assets LLC increased its holdings in Xcel Energy by 25.2% in the 2nd quarter. Oliver Luxxe Assets LLC now owns 95,287 shares of the company’s stock valued at $7,652,000 after buying an additional 19,196 shares during the period. Hennion & Walsh Asset Management Inc. raised its position in shares of Xcel Energy by 6.9% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 58,481 shares of the company’s stock valued at $4,696,000 after buying an additional 3,787 shares in the last quarter. Czech National Bank raised its position in shares of Xcel Energy by 10.3% in the 2nd quarter. Czech National Bank now owns 177,691 shares of the company’s stock valued at $14,269,000 after buying an additional 16,588 shares in the last quarter. Finally, PensionDanmark Pensionsforsikringsaktieselskab lifted its holdings in shares of Xcel Energy by 9.7% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 125,350 shares of the company’s stock worth $10,066,000 after acquiring an additional 11,100 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on XEL shares. Truist Financial lifted their price objective on shares of Xcel Energy from $92.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. KeyCorp restated an “overweight” rating on shares of Xcel Energy in a research note on Monday, June 8th. Morgan Stanley set a $89.00 target price on Xcel Energy in a report on Wednesday, June 24th. Mizuho set a $92.00 price target on Xcel Energy in a research note on Friday, July 31st. Finally, Barclays boosted their price target on Xcel Energy from $87.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Xcel Energy has an average rating of “Buy” and a consensus price target of $92.76.

Xcel Energy Trading Up 1.0%

Shares of Xcel Energy stock opened at $77.66 on Wednesday. The firm has a market capitalization of $48.51 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 2.00 and a beta of 0.39. 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’s 50 day moving average is $79.26 and its 200 day moving average is $79.56. Xcel Energy Inc. has a 1 year low of $69.16 and a 1 year high of $84.23.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.79 by $0.14. Xcel Energy had a net margin of 15.28% and a return on equity of 10.65%. The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same quarter in the prior year, the firm earned $1.59 EPS. The firm’s revenue was down 5.1% compared to the same quarter last year. Equities research analysts forecast 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 Tuesday, October 20th. Stockholders of record on Tuesday, September 15th will be paid a $0.5925 dividend. This represents a $2.37 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Tuesday, September 15th. Xcel Energy’s dividend payout ratio is presently 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.