BI Asset Management Fondsmaeglerselskab A S Raises Holdings in Xcel Energy Inc. $XEL

BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Xcel Energy Inc. (NASDAQ:XEL) by 53.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 35,166 shares of the company’s stock after purchasing an additional 12,265 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Xcel Energy were worth $2,794,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vermillion & White Wealth Management Group LLC acquired a new stake in Xcel Energy in the 3rd quarter worth approximately $27,000. Abound Wealth Management increased its stake in Xcel Energy by 394.5% during the 4th quarter. Abound Wealth Management now owns 361 shares of the company’s stock valued at $27,000 after purchasing an additional 288 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in Xcel Energy during the 4th quarter valued at approximately $30,000. Beacon Financial Strategies CORP purchased a new position in shares of Xcel Energy in the fourth quarter worth $33,000. Finally, Pittenger & Anderson Inc. raised its holdings in shares of Xcel Energy by 73.8% in the fourth quarter. Pittenger & Anderson Inc. now owns 471 shares of the company’s stock worth $35,000 after buying an additional 200 shares during the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

XEL has been the topic of a number of research analyst reports. UBS Group boosted their price objective on shares of Xcel Energy from $89.00 to $91.00 and gave the company a “buy” rating in a report on Monday, April 20th. Mizuho reduced their target price on Xcel Energy from $94.00 to $91.00 and set an “outperform” rating for the company in a research note on Tuesday. Truist Financial reduced their target price on Xcel Energy from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Monday, May 18th. New Street Research set a $91.00 price target on Xcel Energy in a research report on Tuesday. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Xcel Energy in a research note on Wednesday, June 17th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $90.94.

Xcel Energy Stock Performance

XEL opened at $80.33 on Wednesday. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.45. Xcel Energy Inc. has a 12-month low of $66.56 and a 12-month high of $84.23. The firm has a 50 day moving average of $79.36 and a two-hundred day moving average of $78.34. The firm has a market capitalization of $50.15 billion, a PE ratio of 23.15, a P/E/G ratio of 2.05 and a beta of 0.39.

Xcel Energy (NASDAQ:XEL) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.91 EPS for the quarter, meeting the consensus estimate of $0.91. The business had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $4.21 billion. Xcel Energy had a net margin of 14.14% and a return on equity of 10.37%. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.84 EPS. On average, analysts anticipate that Xcel Energy Inc. will post 4.11 EPS for the current year.

Xcel Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Monday, June 15th will be given a dividend of $0.5925 per share. The ex-dividend date is Monday, June 15th. This represents a $2.37 dividend on an annualized basis and a yield of 3.0%. Xcel Energy’s payout ratio is currently 68.30%.

Xcel Energy Company Profile

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.