31,504 Shares in Xcel Energy Inc. $XEL Bought by Banque Pictet & Cie SA

Key Points

• Banque Pictet & Cie SA acquired 31,504 shares of Xcel Energy in the third quarter, valued at approximately $2.22 million. Institutional investors collectively own 78.38% of the company.
• Xcel Energy’s stock was trading at $76.31, up 1.6%, while its latest quarterly earnings of $0.93 per share exceeded analyst estimates of $0.79. However, revenue fell 5.1% year over year to $3.12 billion.
• The company declared a quarterly dividend of $0.5925 per share, equivalent to an annualized $2.37 payout and a 3.1% yield. Analysts maintain a consensus “Buy” rating with an average price target of $91.00.

Banque Pictet & Cie SA acquired a new stake in Xcel Energy Inc. (NASDAQ:XEL - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 31,504 shares of the company's stock, valued at approximately $2,220,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new stake in shares of Xcel Energy during the 2nd quarter worth about $280,187,000. Jupiter Topco LLC bought a new stake in shares of Xcel Energy during the 2nd quarter worth about $94,211,000. Allianz Asset Management GmbH grew its stake in Xcel Energy by 10,366.0% in the 2nd quarter. Allianz Asset Management GmbH now owns 316,702 shares of the company's stock valued at $25,431,000 after buying an additional 313,676 shares during the last quarter. Engineers Gate Manager LP acquired a new position in Xcel Energy in the 2nd quarter valued at about $7,894,000. Finally, Bank of America Corp DE grew its stake in Xcel Energy by 1.7% in the 2nd quarter. Bank of America Corp DE now owns 29,933,748 shares of the company's stock valued at $2,403,680,000 after buying an additional 491,937 shares during the last quarter. Institutional investors own 78.38% of the company's stock.

Xcel Energy Stock Up 1.6%

XEL stock opened at $76.31 on Friday. Xcel Energy Inc. has a fifty-two week low of $68.72 and a fifty-two week high of $84.23. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.70 and a quick ratio of 0.62. The stock has a market capitalization of $47.67 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 2.53 and a beta of 0.36. The business's fifty day moving average price is $74.80 and its two-hundred day moving average price is $77.96.

Xcel Energy (NASDAQ:XEL - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share for the quarter, topping analysts' consensus estimates of $0.79 by $0.14. The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.54 billion. Xcel Energy had a return on equity of 10.65% and a net margin of 15.28%. The company's revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.59 earnings per share. On average, equities analysts anticipate that Xcel Energy Inc. will post 4.13 earnings per share for the current year.

Xcel Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Tuesday, September 15th will be given a dividend of $0.5925 per share. This represents a $2.37 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 15th. Xcel Energy's dividend payout ratio (DPR) is currently 64.93%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on XEL. Weiss Ratings raised shares of Xcel Energy from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, October 2nd. New Street Research set a $91.00 price objective on shares of Xcel Energy in a research report on Tuesday, June 23rd. Truist Financial reduced their price objective on Xcel Energy from $88.00 to $87.00 and set a "buy" rating for the company in a report on Wednesday. Wall Street Zen raised Xcel Energy from a "sell" rating to a "hold" rating in a research report on Saturday, September 26th. Finally, JPMorgan Chase & Co. upped their target price on Xcel Energy from $91.00 to $102.00 and gave the company an "overweight" rating in a research report on Thursday, July 16th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $91.00.

Xcel Energy Profile

Xcel Energy Inc is a Minneapolis-based energy company that provides electricity and natural gas through regulated utility operations. Its businesses generate, transmit, distribute and sell electricity, as well as distribute natural gas to residential, commercial and industrial customers.

Through its operating companies, Xcel Energy serves customers in Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin. The company's operations include a diverse generation portfolio featuring wind, solar, hydroelectric, nuclear, natural gas and other energy resources.

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