Parallax Volatility Advisers L.P. Takes Position in Xcel Energy Inc. $XEL

Parallax Volatility Advisers L.P. acquired a new position in Xcel Energy Inc. (NASDAQ:XEL) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,728 shares of the company’s stock, valued at approximately $861,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Quadrant Capital Group LLC increased its stake in shares of Xcel Energy by 1.7% during the 3rd quarter. Quadrant Capital Group LLC now owns 7,358 shares of the company’s stock worth $593,000 after purchasing an additional 125 shares during the last quarter. Bleakley Financial Group LLC boosted its holdings in Xcel Energy by 0.5% in the fourth quarter. Bleakley Financial Group LLC now owns 28,949 shares of the company’s stock worth $2,138,000 after purchasing an additional 131 shares in the last quarter. Hills Bank & Trust Co increased its position in Xcel Energy by 2.2% during the fourth quarter. Hills Bank & Trust Co now owns 6,184 shares of the company’s stock worth $457,000 after buying an additional 133 shares during the last quarter. Keel Point LLC raised its holdings in Xcel Energy by 2.6% during the fourth quarter. Keel Point LLC now owns 5,485 shares of the company’s stock valued at $405,000 after buying an additional 137 shares in the last quarter. Finally, KCM Investment Advisors LLC lifted its position in shares of Xcel Energy by 1.9% in the first quarter. KCM Investment Advisors LLC now owns 7,549 shares of the company’s stock worth $600,000 after buying an additional 140 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Xcel Energy Trading Up 0.6%

Shares of XEL opened at $77.68 on Thursday. Xcel Energy Inc. has a 12-month low of $71.29 and a 12-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. The firm has a market capitalization of $48.52 billion, a price-to-earnings ratio of 21.28, a P/E/G ratio of 2.00 and a beta of 0.39. The stock’s 50-day moving average price is $79.28 and its 200 day moving average price is $79.76.

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

Xcel Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Tuesday, September 15th will be issued a $0.5925 dividend. This represents a $2.37 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 15th. Xcel Energy’s payout ratio is 64.93%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on XEL. KeyCorp reissued an “overweight” rating on shares of Xcel Energy in a research note on Monday, June 8th. JPMorgan Chase & Co. increased their price target on Xcel Energy from $91.00 to $102.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Truist Financial dropped their price target on shares of Xcel Energy from $94.00 to $88.00 and set a “buy” rating on the stock in a research report on Thursday, August 13th. Wall Street Zen downgraded shares of Xcel Energy from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Barclays boosted their target price 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. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average 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.