Dearborn Partners LLC bought a new position in Xcel Energy Inc. (NASDAQ:XEL – Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 10,965 shares of the company’s stock, valued at approximately $871,000.
Other institutional investors have also made changes to their positions in the company. Safeguard Investment Advisory Group LLC purchased a new stake in shares of Xcel Energy in the 2nd quarter valued at approximately $516,000. Infrastructure Capital Advisors LLC purchased a new position in Xcel Energy during the 2nd quarter worth approximately $2,448,000. Cibc World Market Inc. acquired a new stake in Xcel Energy during the 2nd quarter valued at $518,000. OMERS ADMINISTRATION Corp acquired a new stake in Xcel Energy during the 2nd quarter valued at $31,862,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of Xcel Energy during the second quarter valued at $6,851,000. 78.38% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on XEL shares. Morgan Stanley decreased their price objective on Xcel Energy from $92.00 to $89.00 and set an “equal weight” rating for the company in a research report on Friday. Barclays increased their price target on shares of Xcel Energy from $87.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Truist Financial decreased their price target on shares of Xcel Energy from $94.00 to $88.00 and set a “buy” rating for the company in a report on Thursday, August 13th. Mizuho set a $92.00 price objective on shares of Xcel Energy in a research report on Friday, July 31st. Finally, KeyCorp reiterated an “overweight” rating on shares of Xcel Energy in a research note on Monday, June 8th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Xcel Energy presently has a consensus rating of “Buy” and a consensus target price of $92.41.
Xcel Energy Stock Up 1.3%
XEL opened at $77.33 on Tuesday. Xcel Energy Inc. has a fifty-two week low of $71.29 and a fifty-two week high of $84.23. The business has a 50-day moving average of $79.31 and a 200-day moving average of $79.74. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.70 and a quick ratio of 0.62. The company has a market capitalization of $48.30 billion, a PE ratio of 21.19, a price-to-earnings-growth ratio of 1.98 and a beta of 0.39.
Xcel Energy (NASDAQ:XEL – Get Free Report) 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 business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.54 billion. During the same period in the previous year, the company earned $1.59 EPS. The firm’s revenue was down 5.1% on a year-over-year basis. Equities research analysts forecast that Xcel Energy Inc. will post 4.12 EPS for the current fiscal year.
Xcel Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders 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 dividend on an annualized basis and a yield of 3.1%. Xcel Energy’s payout ratio is 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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