Perigon Wealth Management LLC Buys Shares of 8,175 Xcel Energy Inc. $XEL

Perigon Wealth Management LLC bought a new stake in shares of Xcel Energy Inc. (NASDAQ:XEL) in the 2nd quarter, Holdings Channel reports. The firm bought 8,175 shares of the company’s stock, valued at approximately $656,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Commerzbank Aktiengesellschaft FI bought a new position in Xcel Energy during the 2nd quarter valued at approximately $2,625,000. Trust Co. of Vermont bought a new stake in Xcel Energy in the second quarter worth $64,000. Principle Wealth Partners LLC bought a new stake in Xcel Energy in the second quarter worth $294,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Xcel Energy in the second quarter worth $127,036,000. Finally, OneDigital Investment Advisors LLC bought a new position in shares of Xcel Energy during the second quarter valued at $1,139,000. 78.38% of the stock is owned by institutional investors.

Xcel Energy Stock Up 0.3%

Shares of Xcel Energy stock opened at $79.41 on Thursday. The company has a market cap of $49.60 billion, a price-to-earnings ratio of 21.76, a price-to-earnings-growth ratio of 2.06 and a beta of 0.39. The company’s 50 day moving average is $79.40 and its 200 day moving average is $79.70. Xcel Energy Inc. has a twelve month low of $71.29 and a twelve month high of $84.23. The company has a quick ratio of 0.62, a current ratio of 0.70 and a debt-to-equity ratio of 1.49.

Xcel Energy (NASDAQ:XEL) last posted its earnings results on Thursday, July 30th. The company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.14. The business had revenue of $3.12 billion during 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 firm’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.59 EPS. Research analysts anticipate that Xcel Energy Inc. will post 4.11 EPS for the current year.

Xcel Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Tuesday, September 15th will be issued a $0.5925 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.37 annualized dividend and a dividend yield of 3.0%. Xcel Energy’s payout ratio is presently 64.93%.

Analysts Set New Price Targets

Several research firms have recently issued reports on XEL. JPMorgan Chase & Co. lifted their price target on Xcel Energy from $91.00 to $102.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Truist Financial reduced their price objective on shares of Xcel Energy from $94.00 to $88.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. BTIG Research reiterated a “buy” rating and issued a $99.00 target price on shares of Xcel Energy in a research note on Friday, July 31st. Wall Street Zen downgraded shares of Xcel Energy from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Barclays boosted their price objective on shares of Xcel Energy from $87.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $92.41.

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.