Fulton Bank N.A. Reduces Position in Xcel Energy Inc. $XEL

Fulton Bank N.A. decreased its holdings in Xcel Energy Inc. (NASDAQ:XEL) by 29.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,490 shares of the company’s stock after selling 8,815 shares during the period. Fulton Bank N.A.’s holdings in Xcel Energy were worth $1,707,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Xcel Energy in the third quarter valued at approximately $27,000. Abound Wealth Management lifted its position in Xcel Energy by 394.5% during the fourth quarter. Abound Wealth Management now owns 361 shares of the company’s stock worth $27,000 after buying an additional 288 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in Xcel Energy during the fourth quarter worth $30,000. Beacon Financial Strategies CORP acquired a new position in Xcel Energy during the fourth quarter worth $33,000. Finally, Pittenger & Anderson Inc. grew its holdings in 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 buying an additional 200 shares in the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

Xcel Energy Stock Up 2.8%

Shares of NASDAQ XEL opened at $81.96 on Friday. 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 company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.45. Xcel Energy Inc. has a 52-week low of $66.56 and a 52-week high of $84.23. The business’s 50 day moving average is $79.54 and its two-hundred day moving average is $78.61.

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

Xcel Energy Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.37 annualized dividend and a yield of 2.9%. Xcel Energy’s dividend payout ratio is presently 68.30%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Morgan Stanley set a $89.00 target price on Xcel Energy in a research note on Wednesday, June 24th. Argus set a $86.00 price target on shares of Xcel Energy in a research report on Thursday, March 12th. BMO Capital Markets upped their price objective on shares of Xcel Energy from $90.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Truist Financial cut their price objective on shares of Xcel Energy from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Finally, Barclays reduced their target price on shares of Xcel Energy from $91.00 to $87.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 12th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Xcel Energy currently has an average rating of “Buy” and an average target price of $91.29.

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.