Beese Fulmer Investment Management Inc. Invests $486,000 in Xcel Energy Inc. $XEL

Beese Fulmer Investment Management Inc. bought a new stake in shares of Xcel Energy Inc. (NASDAQ:XEL) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 6,576 shares of the company’s stock, valued at approximately $486,000.

Several other institutional investors have also made changes to their positions in XEL. Bank of America Corp DE boosted its position in shares of Xcel Energy by 9.9% during the 3rd quarter. Bank of America Corp DE now owns 28,851,485 shares of the company’s stock valued at $2,326,872,000 after acquiring an additional 2,589,406 shares in the last quarter. Barclays PLC boosted its position in shares of Xcel Energy by 54.3% during the 3rd quarter. Barclays PLC now owns 6,098,386 shares of the company’s stock valued at $491,835,000 after acquiring an additional 2,145,063 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Xcel Energy by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 76,725,720 shares of the company’s stock valued at $6,187,929,000 after acquiring an additional 2,001,018 shares in the last quarter. State Street Corp boosted its position in shares of Xcel Energy by 5.1% during the 3rd quarter. State Street Corp now owns 35,896,553 shares of the company’s stock valued at $2,914,984,000 after acquiring an additional 1,752,296 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its stake in Xcel Energy by 100.3% in the 2nd quarter. Raymond James Financial Inc. now owns 2,519,061 shares of the company’s stock valued at $171,548,000 after buying an additional 1,261,439 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Xcel Energy Price Performance

NASDAQ:XEL opened at $77.92 on Monday. The firm has a market cap of $48.64 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 2.02 and a beta of 0.41. Xcel Energy Inc. has a 12 month low of $65.21 and a 12 month high of $84.23. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.45. The company’s 50-day moving average price is $80.12 and its two-hundred day moving average price is $78.65.

Xcel Energy (NASDAQ:XEL) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.91 EPS for the quarter, hitting analysts’ consensus estimates of $0.91. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.21 billion. Xcel Energy had a return on equity of 10.37% and a net margin of 14.14%.The business’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.84 earnings per share. On average, equities analysts anticipate that Xcel Energy Inc. will post 4.11 EPS for the current fiscal year.

Xcel Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 20th. Shareholders of record on Friday, March 13th were paid a $0.5925 dividend. This is an increase from Xcel Energy’s previous quarterly dividend of $0.57. This represents a $2.37 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Friday, March 13th. Xcel Energy’s payout ratio is presently 68.30%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Argus set a $86.00 price target on Xcel Energy in a research note on Thursday, March 12th. Truist Financial assumed coverage on Xcel Energy in a research note on Monday, April 20th. They issued a “buy” rating and a $95.00 price target on the stock. Weiss Ratings raised Xcel Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 20th. JPMorgan Chase & Co. decreased their price target on Xcel Energy from $94.00 to $91.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, UBS Group boosted their price target on Xcel Energy from $89.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Four equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $91.13.

Xcel Energy 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.