Primecap Management Co. CA Acquires Shares of 496,300 Xcel Energy Inc. $XEL

Primecap Management Co. CA acquired a new position in shares of Xcel Energy Inc. (NASDAQ:XEL) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 496,300 shares of the company’s stock, valued at approximately $39,853,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Xcel Energy in the 2nd quarter valued at about $4,890,136,000. GQG Partners LLC purchased a new position in Xcel Energy during the 2nd quarter worth approximately $891,688,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Xcel Energy during the second quarter worth approximately $708,086,000. Legal & General Group Plc acquired a new position in Xcel Energy during the second quarter worth approximately $503,543,000. Finally, Deutsche Bank AG purchased a new stake in Xcel Energy in the second quarter valued at approximately $433,927,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on XEL shares. Truist Financial decreased their price objective on Xcel Energy from $94.00 to $88.00 and set a “buy” rating for the company in a report on Thursday, August 13th. Barclays upped their price target on shares of Xcel Energy from $87.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. New Street Research set a $91.00 price target on shares of Xcel Energy in a research note on Tuesday, June 23rd. Wall Street Zen downgraded shares of Xcel Energy from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, KeyCorp restated an “overweight” rating on shares of Xcel Energy in a research note on Monday, June 8th. 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 stock. Based on data from MarketBeat, Xcel Energy has an average rating of “Buy” and an average price target of $92.41.

Xcel Energy Trading Up 0.6%

Shares of XEL stock opened at $77.68 on Thursday. The business’s 50 day moving average is $79.28 and its two-hundred day moving average is $79.76. Xcel Energy Inc. has a twelve month low of $71.29 and a twelve month high of $84.23. The company has a market capitalization of $48.52 billion, a P/E ratio of 21.28, a price-to-earnings-growth ratio of 2.00 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.

Xcel Energy (NASDAQ:XEL) last released its earnings results 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 return on equity of 10.65% and a net margin of 15.28%.The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same quarter in the previous year, the company posted $1.59 earnings per share. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. Equities analysts forecast that Xcel Energy Inc. will post 4.12 EPS for the current year.

Xcel Energy Dividend Announcement

The company also recently disclosed 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. 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 currently 64.93%.

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.