18,939 Shares in Xcel Energy Inc. $XEL Acquired by Ninepoint Partners LP

Key Points

• Ninepoint Partners LP acquired 18,939 shares of Xcel Energy in the second quarter, valued at approximately $1.52 million. Institutional investors collectively own 78.38% of the company.
• Analysts maintain a broadly positive outlook, with a consensus “Buy” rating and an average price target of $92.41. Recent targets range from $88 to $102.
• Xcel Energy reported quarterly EPS of $0.93, beating estimates of $0.79, although revenue fell 5.1% year over year to $3.12 billion. The company declared a quarterly dividend of $0.5925, equivalent to a 3.0% annual yield.

Ninepoint Partners LP acquired a new stake in Xcel Energy Inc. (NASDAQ:XEL - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 18,939 shares of the company's stock, valued at approximately $1,521,000.

A number of other institutional investors have also recently modified their holdings of the stock. Cbre Investment Management Listed Real Assets LLC boosted its stake in Xcel Energy by 18.1% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,324,667 shares of the company's stock valued at $171,700,000 after buying an additional 356,208 shares in the last quarter. PKO Investment Management Joint Stock Co bought a new position in shares of Xcel Energy in the fourth quarter worth about $1,477,000. Electron Capital Partners LLC boosted its stake in shares of Xcel Energy by 15.2% in the 4th quarter. Electron Capital Partners LLC now owns 1,936,695 shares of the company's stock valued at $143,044,000 after purchasing an additional 255,884 shares in the last quarter. Reaves W H & Co. Inc. boosted its stake in shares of Xcel Energy by 13.1% in the 4th quarter. Reaves W H & Co. Inc. now owns 3,579,918 shares of the company's stock valued at $264,413,000 after purchasing an additional 415,759 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Xcel Energy by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 16,496,124 shares of the company's stock valued at $1,214,035,000 after purchasing an additional 126,498 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on XEL. JPMorgan Chase & Co. upped their price objective on shares of Xcel Energy from $91.00 to $102.00 and gave the stock an "overweight" rating in a research report on Thursday, July 16th. BMO Capital Markets cut their target price on shares of Xcel Energy from $95.00 to $92.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 22nd. Truist Financial decreased their target price on shares of Xcel Energy from $94.00 to $88.00 and set a "buy" rating on the stock in a research note on Thursday, August 13th. New Street Research set a $91.00 price target on shares of Xcel Energy in a report on Tuesday, June 23rd. Finally, KeyCorp reiterated an "overweight" rating on shares of Xcel Energy in a research note on Monday, June 8th. 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's stock. Based on data from 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 $78.71 on Friday. The stock has a market capitalization of $49.16 billion, a PE ratio of 21.56, a PEG ratio of 2.06 and a beta of 0.39. The business's 50 day simple moving average is $79.41 and its 200 day simple moving average is $79.72. 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 one year low of $71.29 and a one year high of $84.23.

Xcel Energy (NASDAQ:XEL - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.14. Xcel Energy had a net margin of 15.28% and a return on equity of 10.65%. The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.54 billion. During the same quarter last year, the business earned $1.59 EPS. The company's revenue was down 5.1% compared to the same quarter last year. As a group, research analysts forecast that Xcel Energy Inc. will post 4.11 earnings per share for the current year.

Xcel Energy Announces Dividend

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 paid 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%.

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.

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