Xcel Energy Inc. $XEL Stake Boosted by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC boosted its stake in Xcel Energy Inc. (NASDAQ:XEL) by 54.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,966 shares of the company’s stock after buying an additional 17,961 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Xcel Energy were worth $4,072,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Xcel Energy by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 77,610,805 shares of the company’s stock worth $5,732,334,000 after buying an additional 885,085 shares in the last quarter. State Street Corp increased its stake in shares of Xcel Energy by 1.2% during the fourth quarter. State Street Corp now owns 36,340,645 shares of the company’s stock valued at $2,704,534,000 after acquiring an additional 444,092 shares during the period. Bank of America Corp DE increased its stake in shares of Xcel Energy by 9.9% during the third quarter. Bank of America Corp DE now owns 28,851,485 shares of the company’s stock valued at $2,326,872,000 after acquiring an additional 2,589,406 shares during the period. JPMorgan Chase & Co. raised its holdings in Xcel Energy by 16.9% during the fourth quarter. JPMorgan Chase & Co. now owns 24,572,438 shares of the company’s stock worth $1,814,920,000 after purchasing an additional 3,546,423 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Xcel Energy by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 16,496,124 shares of the company’s stock worth $1,214,035,000 after purchasing an additional 126,498 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Mizuho lowered their price target on Xcel Energy from $94.00 to $91.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 23rd. Truist Financial decreased 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. JPMorgan Chase & Co. lowered their target price on Xcel Energy from $94.00 to $91.00 and set an “overweight” rating on the stock in a report on Thursday, May 14th. UBS Group boosted their price target on shares of Xcel Energy from $89.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Finally, New Street Research set a $91.00 price target on shares of Xcel Energy in a report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Xcel Energy currently has a consensus rating of “Buy” and an average price target of $91.29.

Xcel Energy Price Performance

Shares of Xcel Energy stock 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 P/E/G ratio of 2.13 and a beta of 0.39. The stock has a 50-day simple moving average of $79.61 and a 200-day simple moving average of $78.63. Xcel Energy Inc. has a 52-week low of $66.56 and a 52-week high of $84.23. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.77 and a quick ratio of 0.68.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.91 EPS for the quarter, meeting analysts’ consensus estimates of $0.91. The business had revenue of $4.02 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the firm posted $0.84 EPS. On average, equities research analysts expect that Xcel Energy Inc. will post 4.11 earnings per share for the current fiscal year.

Xcel Energy Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, June 15th. 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.