Harrison Street Private Wealth LLC Takes $4.57 Million Position in Xcel Energy Inc. $XEL

Harrison Street Private Wealth LLC acquired a new position in Xcel Energy Inc. (NASDAQ:XEL) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 57,507 shares of the company’s stock, valued at approximately $4,568,000. Xcel Energy makes up 6.0% of Harrison Street Private Wealth LLC’s holdings, making the stock its 6th biggest holding.

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

Xcel Energy Price Performance

Shares of XEL opened at $81.96 on Friday. Xcel Energy Inc. has a 52 week low of $66.56 and a 52 week high of $84.23. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.45. The firm has a market cap of $51.17 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 2.07 and a beta of 0.39. The stock has a 50 day moving average of $79.54 and a 200-day moving average of $78.61.

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

Xcel Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Monday, June 15th will be paid a dividend of $0.5925 per share. This represents a $2.37 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, June 15th. Xcel Energy’s dividend payout ratio is presently 68.30%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on XEL. UBS Group increased their target price on Xcel Energy from $89.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Mizuho cut their price target on shares of Xcel Energy from $94.00 to $91.00 and set an “outperform” rating on the stock in a report on Tuesday, June 23rd. Truist Financial reduced their price objective on shares of Xcel Energy from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Monday, May 18th. Argus set a $86.00 price objective on shares of Xcel Energy in a report on Thursday, March 12th. Finally, Morgan Stanley set a $89.00 price objective on shares of Xcel Energy in a report on Wednesday, June 24th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $91.29.

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.