NewEdge Wealth LLC Purchases New Stake in Xcel Energy Inc. $XEL

NewEdge Wealth LLC purchased a new stake in shares of Xcel Energy Inc. (NASDAQ:XEL) during the second quarter, HoldingsChannel reports. The institutional investor purchased 10,418 shares of the company’s stock, valued at approximately $837,000.

Several other institutional investors also recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Xcel Energy in the second quarter worth $4,890,136,000. Deutsche Bank AG purchased a new stake in Xcel Energy during the 2nd quarter worth $433,927,000. Barclays PLC boosted its position in Xcel Energy by 63.6% during the 4th quarter. Barclays PLC now owns 9,979,397 shares of the company’s stock worth $737,078,000 after purchasing an additional 3,881,011 shares during the period. JPMorgan Chase & Co. increased its holdings in Xcel Energy by 16.9% in the 4th quarter. JPMorgan Chase & Co. now owns 24,572,438 shares of the company’s stock valued at $1,814,920,000 after purchasing an additional 3,546,423 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Xcel Energy in the 2nd quarter valued at $280,187,000. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Xcel Energy Stock Performance

Xcel Energy stock opened at $76.30 on Friday. Xcel Energy Inc. has a 12-month low of $71.29 and a 12-month high of $84.23. 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 $47.66 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 2.05 and a beta of 0.39. The firm’s fifty day moving average price is $79.35 and its 200 day moving average price is $79.70.

Xcel Energy (NASDAQ:XEL) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.14. The company had revenue of $3.12 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.59 EPS. On average, research analysts forecast that Xcel Energy Inc. will post 4.11 EPS for the current fiscal year.

Xcel Energy Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 3.1%. Xcel Energy’s dividend payout ratio is currently 64.93%.

Analyst Upgrades and Downgrades

XEL has been the topic of a number of recent research reports. BMO Capital Markets reduced their price objective 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. Truist Financial lowered their target price on Xcel Energy from $94.00 to $88.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. Mizuho set a $92.00 target price on Xcel Energy in a report on Friday, July 31st. Jefferies Financial Group set a $101.00 price target on Xcel Energy in a research report on Tuesday, July 7th. Finally, Wall Street Zen cut Xcel Energy from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price 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.