Corient Private Wealth LP Buys New Shares in Xcel Energy Inc. $XEL

Corient Private Wealth LP bought a new position in shares of Xcel Energy Inc. (NASDAQ:XEL) during the 2nd quarter, Holdings Channel.com reports. The firm bought 265,277 shares of the company’s stock, valued at approximately $13,374,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Parallax Volatility Advisers L.P. purchased a new stake in Xcel Energy in the 2nd quarter valued at about $861,000. Bank of America Corp DE boosted its position in shares of Xcel Energy by 1.7% in the second quarter. Bank of America Corp DE now owns 29,933,748 shares of the company’s stock worth $2,403,680,000 after acquiring an additional 491,937 shares during the last quarter. Freestone Grove Partners LP acquired a new stake in shares of Xcel Energy in the second quarter worth approximately $64,102,000. Gallagher Fiduciary Advisors LLC purchased a new stake in Xcel Energy in the second quarter valued at approximately $1,442,000. Finally, Man Group plc acquired a new position in Xcel Energy during the second quarter worth approximately $3,107,000. 78.38% of the stock is owned by institutional investors and hedge funds.

Xcel Energy Stock Performance

NASDAQ:XEL opened at $76.45 on Friday. The firm’s fifty day simple moving average is $79.25 and its 200 day simple moving average is $79.75. The company has a current ratio of 0.70, a quick ratio of 0.62 and a debt-to-equity ratio of 1.49. Xcel Energy Inc. has a twelve month low of $71.29 and a twelve month high of $84.23. The firm has a market capitalization of $47.75 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 1.98 and a beta of 0.39.

Xcel Energy (NASDAQ:XEL) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.14. Xcel Energy had a return on equity of 10.65% and a net margin of 15.28%.The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same period in the prior year, the firm earned $1.59 EPS. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. As a group, equities research analysts expect that Xcel Energy Inc. will post 4.12 earnings per share for the current fiscal year.

Xcel Energy Dividend Announcement

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 given a $0.5925 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.37 annualized dividend and a yield of 3.1%. Xcel Energy’s dividend payout ratio (DPR) is 64.93%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on XEL shares. JPMorgan Chase & Co. increased their price target on shares of Xcel Energy from $91.00 to $102.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Truist Financial dropped their price objective on Xcel Energy from $94.00 to $88.00 and set a “buy” rating for the company in a report on Thursday, August 13th. Wall Street Zen lowered Xcel Energy from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Barclays lifted their target price on Xcel Energy from $87.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Finally, Morgan Stanley dropped their price target on Xcel Energy from $92.00 to $89.00 and set an “equal weight” rating for the company in a research note on Friday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Xcel Energy presently has an average rating of “Buy” and an average 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.