Atomi Financial Group Inc. bought a new stake in Xcel Energy Inc. (NASDAQ:XEL – Free Report) during the fourth quarter, HoldingsChannel.com reports. The fund bought 4,122 shares of the company’s stock, valued at approximately $278,000.
Other hedge funds also recently modified their holdings of the company. State Street Corp lifted its stake in shares of Xcel Energy by 6.7% during the third quarter. State Street Corp now owns 37,143,025 shares of the company’s stock valued at $2,445,477,000 after buying an additional 2,323,448 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Xcel Energy by 6.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 15,190,756 shares of the company’s stock valued at $991,956,000 after acquiring an additional 892,740 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Xcel Energy by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 14,562,103 shares of the company’s stock worth $952,091,000 after purchasing an additional 262,191 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Xcel Energy by 2.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,417,615 shares of the company’s stock worth $223,170,000 after purchasing an additional 67,820 shares during the last quarter. Finally, Brookfield Corp ON grew its position in shares of Xcel Energy by 520.1% in the third quarter. Brookfield Corp ON now owns 2,509,031 shares of the company’s stock valued at $163,840,000 after purchasing an additional 2,104,405 shares during the period. 78.38% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on XEL. JPMorgan Chase & Co. upgraded Xcel Energy from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $69.00 to $80.00 in a research report on Thursday, December 12th. KeyCorp raised their target price on shares of Xcel Energy from $74.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Jefferies Financial Group upgraded shares of Xcel Energy from a “hold” rating to a “buy” rating and boosted their target price for the company from $71.00 to $76.00 in a report on Friday, November 1st. Barclays decreased their price target on shares of Xcel Energy from $71.00 to $69.00 and set an “overweight” rating on the stock in a report on Wednesday, January 22nd. Finally, Morgan Stanley lowered their price objective on shares of Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $69.50.
Xcel Energy Stock Up 0.8 %
Shares of NASDAQ XEL opened at $66.61 on Monday. The stock has a fifty day moving average price of $68.20 and a 200 day moving average price of $64.08. The company has a market cap of $38.25 billion, a P/E ratio of 19.77, a P/E/G ratio of 2.53 and a beta of 0.42. Xcel Energy Inc. has a 12-month low of $46.79 and a 12-month high of $73.38. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 1.42.
Xcel Energy (NASDAQ:XEL – Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.01). The company had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.93 billion. Xcel Energy had a net margin of 13.67% and a return on equity of 10.76%. Xcel Energy’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business posted $1.23 EPS. Research analysts anticipate that Xcel Energy Inc. will post 3.54 EPS for the current fiscal year.
Xcel Energy Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Monday, January 6th will be issued a dividend of $0.5475 per share. This represents a $2.19 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Monday, January 6th. Xcel Energy’s payout ratio is 64.99%.
Xcel Energy Company Profile
Xcel Energy Inc, through its subsidiaries, engages in the generation, purchasing, transmission, distribution, and sale of electricity. It operates through Regulated Electric Utility, Regulated Natural Gas Utility, and All Other segments. The company generates electricity through wind, nuclear, hydroelectric, biomass, and solar energy sources, as well as coal, natural gas, oil, wood, and refuse-derived fuels.
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