Global Retirement Partners LLC Buys Shares of 16,833 Xcel Energy Inc. $XEL

Global Retirement Partners LLC acquired a new position in shares of Xcel Energy Inc. (NASDAQ:XEL) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 16,833 shares of the company’s stock, valued at approximately $1,352,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Evolution Wealth Management Inc. increased its stake in Xcel Energy by 365.3% in the first quarter. Evolution Wealth Management Inc. now owns 349 shares of the company’s stock valued at $28,000 after purchasing an additional 274 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in shares of Xcel Energy during the 4th quarter valued at $30,000. Pittenger & Anderson Inc. grew its stake in shares of Xcel Energy by 73.8% in the fourth 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. Cedar Mountain Advisors LLC purchased a new position in shares of Xcel Energy in the first quarter valued at $39,000. Finally, Measured Wealth Private Client Group LLC acquired a new stake in shares of Xcel Energy during the third quarter valued at about $42,000. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on XEL. Mizuho set a $92.00 price objective on shares of Xcel Energy in a research note on Friday, July 31st. Evercore reissued an “outperform” rating and set a $96.00 price target on shares of Xcel Energy in a report on Monday, May 4th. Truist Financial cut their target price on Xcel Energy from $94.00 to $88.00 and set a “buy” rating on the stock in a research note on Thursday. Barclays upped their price target on shares of Xcel Energy from $87.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Finally, JPMorgan Chase & Co. raised their target price on Xcel Energy from $91.00 to $102.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Two research 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $92.41.

Xcel Energy Stock Performance

Shares of XEL stock opened at $79.21 on Tuesday. The company has a market capitalization of $49.48 billion, a price-to-earnings ratio of 21.70, a P/E/G ratio of 2.06 and a beta of 0.39. Xcel Energy Inc. has a 1-year low of $71.29 and a 1-year high of $84.23. The company has a current ratio of 0.70, a quick ratio of 0.62 and a debt-to-equity ratio of 1.49. The stock’s fifty day simple moving average is $79.35 and its 200-day simple moving average is $79.66.

Xcel Energy (NASDAQ:XEL) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.14. The business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.54 billion. Xcel Energy had a return on equity of 10.65% and a net margin of 15.28%.Xcel Energy’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period last year, the company earned $1.59 earnings per share. On average, sell-side analysts predict that Xcel Energy Inc. will post 4.11 earnings per share for the current fiscal year.

Xcel Energy Dividend Announcement

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

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.