E Fund Management Co. Ltd. Invests $1.93 Million in Xcel Energy Inc. $XEL

E Fund Management Co. Ltd. bought a new stake in Xcel Energy Inc. (NASDAQ:XEL) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 24,032 shares of the company’s stock, valued at approximately $1,930,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Evolution Wealth Management Inc. lifted its stake in Xcel Energy by 365.3% during the first quarter. Evolution Wealth Management Inc. now owns 349 shares of the company’s stock worth $28,000 after purchasing an additional 274 shares during the period. Garton & Associates Financial Advisors LLC bought a new stake in shares of Xcel Energy in the 4th quarter valued at approximately $30,000. Pittenger & Anderson Inc. raised its holdings in shares of Xcel Energy by 73.8% in the 4th quarter. Pittenger & Anderson Inc. now owns 471 shares of the company’s stock worth $35,000 after buying an additional 200 shares in the last quarter. Advocate Investing Services LLC acquired a new position in shares of Xcel Energy in the 4th quarter worth approximately $38,000. Finally, Cedar Mountain Advisors LLC bought a new position in shares of Xcel Energy during the 1st quarter worth approximately $39,000. 78.38% of the stock is owned by institutional investors.

Xcel Energy Stock Performance

Shares of NASDAQ:XEL opened at $79.41 on Thursday. The company has a market capitalization of $49.60 billion, a price-to-earnings ratio of 21.76, a P/E/G ratio of 2.06 and a beta of 0.39. The firm’s 50 day simple moving average is $79.40 and its 200 day simple moving average is $79.70. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.70 and a quick ratio of 0.62. Xcel Energy Inc. has a fifty-two week low of $71.29 and a fifty-two week high of $84.23.

Xcel Energy (NASDAQ:XEL) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.14. The business had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.54 billion. Xcel Energy had a net margin of 15.28% and a return on equity of 10.65%. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.59 EPS. As a group, sell-side analysts forecast that Xcel Energy Inc. will post 4.11 earnings per share for the current year.

Xcel Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Tuesday, September 15th will be given a $0.5925 dividend. This represents a $2.37 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Xcel Energy’s payout ratio is currently 64.93%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on XEL shares. JPMorgan Chase & Co. boosted their target price on shares of Xcel Energy from $91.00 to $102.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. New Street Research set a $91.00 target price on shares of Xcel Energy in a research report on Tuesday, June 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Xcel Energy in a report on Wednesday, June 17th. Evercore restated an “outperform” rating and issued a $96.00 price target on shares of Xcel Energy in a research report on Monday, May 4th. Finally, Truist Financial dropped their price objective on shares of Xcel Energy from $94.00 to $88.00 and set a “buy” rating for the company in a report on Thursday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $92.41.

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.