OneAscent Financial Services LLC Takes Position in Xcel Energy Inc. $XEL

OneAscent Financial Services LLC bought a new position in shares of Xcel Energy Inc. (NASDAQ:XEL) during the 2nd quarter, HoldingsChannel reports. The fund bought 9,893 shares of the company’s stock, valued at approximately $794,000.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Xcel Energy by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 77,610,805 shares of the company’s stock valued at $5,732,334,000 after buying an additional 885,085 shares during the period. BlackRock Inc. acquired a new position in shares of Xcel Energy in the 2nd quarter valued at approximately $4,890,136,000. State Street Corp lifted its holdings in shares of Xcel Energy by 1.2% during the 4th quarter. State Street Corp now owns 36,340,645 shares of the company’s stock worth $2,704,534,000 after acquiring an additional 444,092 shares during the period. Bank of America Corp DE lifted its holdings in shares of Xcel Energy by 5.9% during the 1st quarter. Bank of America Corp DE now owns 29,441,811 shares of the company’s stock worth $2,338,858,000 after acquiring an additional 1,637,890 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Xcel Energy by 16.9% during the 4th quarter. JPMorgan Chase & Co. now owns 24,572,438 shares of the company’s stock worth $1,814,920,000 after acquiring an additional 3,546,423 shares during the period. Institutional investors own 78.38% of the company’s stock.

Xcel Energy Stock Performance

Shares of XEL stock opened at $78.71 on Friday. The firm has a market capitalization of $49.16 billion, a price-to-earnings ratio of 21.56, a PEG ratio of 2.06 and a beta of 0.39. The company has a current ratio of 0.70, a quick ratio of 0.62 and a debt-to-equity ratio of 1.49. The business’s 50-day moving average price is $79.41 and its 200-day moving average price is $79.72. Xcel Energy Inc. has a 12 month low of $71.29 and a 12 month high of $84.23.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.14. Xcel Energy had a net margin of 15.28% and a return on equity of 10.65%. The business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.54 billion. During the same quarter last year, the business earned $1.59 EPS. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. Equities research analysts forecast that Xcel Energy Inc. will post 4.11 EPS for the current year.

Xcel Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.5925 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.37 annualized dividend and a dividend yield of 3.0%. Xcel Energy’s dividend payout ratio (DPR) is presently 64.93%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Xcel Energy in a research note on Wednesday, June 17th. New Street Research set a $91.00 target price on Xcel Energy in a research note on Tuesday, June 23rd. BTIG Research reaffirmed a “buy” rating and issued a $99.00 target price on shares of Xcel Energy in a report on Friday, July 31st. Wall Street Zen lowered Xcel Energy from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Barclays boosted their price target on Xcel Energy from $87.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average 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.