EverSource Wealth Advisors LLC Boosts Stake in Xcel Energy Inc. (NASDAQ:XEL)

EverSource Wealth Advisors LLC increased its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL) by 44.0% during the second quarter, HoldingsChannel reports. The firm owned 8,987 shares of the company’s stock after buying an additional 2,748 shares during the period. EverSource Wealth Advisors LLC’s holdings in Xcel Energy were worth $524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in Xcel Energy by 770.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,552,625 shares of the company’s stock valued at $405,955,000 after acquiring an additional 6,684,499 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of Xcel Energy during the 1st quarter valued at about $80,283,000. Federated Hermes Inc. lifted its stake in shares of Xcel Energy by 120.2% in the 2nd quarter. Federated Hermes Inc. now owns 2,379,615 shares of the company’s stock worth $127,095,000 after purchasing an additional 1,299,025 shares during the period. American Century Companies Inc. boosted its holdings in shares of Xcel Energy by 130.4% in the second quarter. American Century Companies Inc. now owns 2,084,345 shares of the company’s stock worth $111,325,000 after buying an additional 1,179,823 shares during the last quarter. Finally, Zimmer Partners LP grew its position in Xcel Energy by 1,765.0% during the first quarter. Zimmer Partners LP now owns 932,505 shares of the company’s stock valued at $50,122,000 after buying an additional 882,505 shares during the period. 78.38% of the stock is owned by hedge funds and other institutional investors.

Xcel Energy Trading Down 0.3 %

Shares of NASDAQ:XEL opened at $63.96 on Tuesday. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.97 and a quick ratio of 0.86. Xcel Energy Inc. has a 1 year low of $46.79 and a 1 year high of $64.95. The firm has a market capitalization of $35.54 billion, a P/E ratio of 19.21, a P/E/G ratio of 2.81 and a beta of 0.38. The business’s 50-day moving average is $60.11 and its 200 day moving average is $56.06.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.03). Xcel Energy had a net margin of 13.46% and a return on equity of 10.94%. The company had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.29 billion. During the same period last year, the firm earned $0.52 EPS. The business’s quarterly revenue was up .2% compared to the same quarter last year. On average, research analysts predict that Xcel Energy Inc. will post 3.55 earnings per share for the current fiscal year.

Xcel Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 20th. Investors of record on Friday, September 13th will be given a dividend of $0.548 per share. The ex-dividend date is Friday, September 13th. This is a positive change from Xcel Energy’s previous quarterly dividend of $0.55. This represents a $2.19 dividend on an annualized basis and a yield of 3.43%. Xcel Energy’s payout ratio is presently 65.77%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Argus upgraded shares of Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research report on Monday, August 26th. Morgan Stanley boosted their price objective on Xcel Energy from $62.00 to $68.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. KeyCorp increased their target price on shares of Xcel Energy from $65.00 to $66.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. UBS Group lifted their price target on shares of Xcel Energy from $66.00 to $67.00 and gave the company a “neutral” rating in a report on Friday. Finally, Jefferies Financial Group initiated coverage on shares of Xcel Energy in a research note on Thursday, September 19th. They issued a “hold” rating and a $70.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Xcel Energy has an average rating of “Hold” and a consensus price target of $63.79.

About Xcel Energy

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.