SteelPeak Wealth LLC Makes New $2.76 Million Investment in Xcel Energy Inc. $XEL

SteelPeak Wealth LLC purchased a new position in Xcel Energy Inc. (NASDAQ:XEL) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 37,071 shares of the company’s stock, valued at approximately $2,759,000.

Several other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC purchased a new position in Xcel Energy during the fourth quarter worth about $240,000. Empowered Funds LLC raised its stake in Xcel Energy by 30.7% in the first quarter. Empowered Funds LLC now owns 13,810 shares of the company’s stock valued at $978,000 after purchasing an additional 3,242 shares in the last quarter. Woodline Partners LP grew its stake in Xcel Energy by 40.7% in the 1st quarter. Woodline Partners LP now owns 48,515 shares of the company’s stock worth $3,434,000 after buying an additional 14,029 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in shares of Xcel Energy in the 2nd quarter worth $25,000. Finally, CW Advisors LLC raised its position in shares of Xcel Energy by 3.3% during the 2nd quarter. CW Advisors LLC now owns 21,620 shares of the company’s stock valued at $1,472,000 after buying an additional 686 shares in the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Xcel Energy Price Performance

Shares of NASDAQ XEL opened at $80.74 on Friday. The company has a market cap of $50.37 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 2.21 and a beta of 0.43. The company has a quick ratio of 0.60, a current ratio of 0.71 and a debt-to-equity ratio of 1.35. The firm’s fifty day moving average is $79.67 and its 200 day moving average is $78.43. Xcel Energy Inc. has a 52 week low of $65.21 and a 52 week high of $84.23.

Xcel Energy (NASDAQ:XEL) last released its quarterly earnings data on Wednesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.96. The firm had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Xcel Energy had a net margin of 13.76% and a return on equity of 10.46%. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.81 earnings per share. On average, equities research analysts expect that Xcel Energy Inc. will post 3.82 earnings per share for the current year.

Xcel Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 20th. Stockholders of record on Friday, March 13th will be paid a dividend of $0.5925 per share. This represents a $2.37 annualized dividend and a dividend yield of 2.9%. This is a boost from Xcel Energy’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, March 13th. Xcel Energy’s payout ratio is presently 69.30%.

Analyst Ratings Changes

A number of research analysts recently commented on XEL shares. UBS Group reduced their target price on Xcel Energy from $93.00 to $89.00 and set a “buy” rating on the stock in a research note on Tuesday, March 24th. Morgan Stanley set a $91.00 price objective on Xcel Energy in a research report on Friday, February 20th. Weiss Ratings raised Xcel Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 20th. Royal Bank Of Canada reissued an “outperform” rating and set a $95.00 price target on shares of Xcel Energy in a research note on Friday, January 23rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $90.00 price objective on shares of Xcel Energy in a research note on Friday, February 6th. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $88.44.

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.